Trying to set your Instagram feed apart from the competition, but don’t know where to start? Well, it’s much easier than you think – the key to success is competitor analysis.
There are a few solid grounds as to why it is important to analyze your competitor’s accounts. Experience shows that it is important not only for boosting your «sixth sense» on what and when to post, but at the same time it will help you to choose the most suitable content type for your target audience and as a result help you stand out from the competition.
Search Parameters for Competitors
In this step, you should choose the priorities for your analysis. While choosing, note the weakest links of your profile that, in your opinion, need to be changed.
How to Find Competitors on Instagram?
According to the Marketing Playbook, the selection of the right competitors for the analysis determines how you will perceive your company and the final analysis. Your competitors have the same target audience as you and they might have already done a lot of the hard work for you so why not use this to your advantage.
Use Internal Instagram Search
The most popular method to find the competitors of your business is to search them via an internal Instagram search, but for the expanded analysis we recommend you browse the Internet.
Conduct an Instagram Hashtag Research
To make it more effective, use some keywords or hashtags connected with your business. That will help you to group content, and, for instance, may include the product, its special features, and even your location.
How to Conduct a Competitor Analysis?
Newbies always go catatonic at the very beginning of the analyses. For avoiding that, use services like trendHERO which can help you to find the competitors among 15 million pages and provide the detailed analyses of their Instagram accounts.
For your convenience, we have summarized a short plan of the key points of the Instagram account analysis, which have been mentioned earlier.
#1 Competitor’s Product Analysis
First of all, your main target is the competitor’s product. Try to find the benefits of goods/services the competitor offers, why are they better or worse than you.
#2 Competitor’s Aesthetic Design Analysis
Secondly, pay attention to the aesthetic design of the profile. How much do you like the logo, the colors, and what is the total impression of the product? Does it feel like you’d make the purchase or not? Research shows that 93% of the consumers place aesthetics and color above other factors when shopping.
#3 Competitor’s Profile Content Analysis
One of the main features, for the positive impact on consumers, is the profile content. The publications determine the target audience, their points of interest. Find the ones, which caused the greatest response and discussion from customers. Most of the competitors plan the content published in advance, so as to remind and broaden the information about the product. For example, you can contact the essay writer pro to create an original post for extending the site audience.
#4 Competitor’s Audience Analysis
Talking about the audience, focus on the subscribers’ number, what is the engagement of the account. Also, note how many bots and “dead” souls subscribe to the page.
#5 Competitor’s Price Policy Analysis
Study the competitor’s price policy. Compare it with yours, choose the most acceptable product’s price.
#6 Competitor’s Promotion Methods Analysis
Research the promotion methods used by your competitors. If most of them stick to one of the following methods as paids ads, collaboration with influencers, giveaways, hashtags, mass following or other, you might also consider using such approaches to attract a similar target audience relevant to your brand.
#7 Defining Your Budget
Budget the money you can spend on researching and analyzing your Instagram competitors. Track their promotion methodology, advertising, and budget spent on development. If you have found that most of your competitors utilize giveaways or cooperation with influencers in order to get exposure, then you might consider trying these methods as well to enlarge your following.
How To Use the Received Data?
Having received the information, it’s time to brainstorm the ideas based on which common features you have noticed among the competitors. Take a look on your page and make some brief notes of changes the account needs for improving the competitiveness of your business, and bring them into reality.
As conclusion, we can assure you that this method of searching and analyzing competitors on Instagram can boost your competitiveness. So just try out some of the points proposed and enjoy the successful outcome! Ready?
Eliza Medley is an experienced writer and psychologist. She is actively interested in management, new technologies, and writing motivational articles. And also trying to go with time with modern trends. Inspires people with her work to learn new things and reach new heights.