Social Media

Advice for Businesses on Analyzing the Competition on Instagram

Instagram is one of, if not the most, well-known social media networks due to its massive user base of over 1.4 billion active monthly users. As this is the case, it has rapidly risen in importance and is now considered an indispensable resource for every social media manager.

Instagram isn’t only a fantastic tool for expanding your brand’s reach; it’s also a goldmine of information about your target demographic and the competitors you should be monitoring. To get a leg up on the competition, you need to do an Instagram competitive analysis.

Explain the meaning of a competitive analysis on Instagram

Doing research into your rivals’ Instagram profiles allows you to gain valuable information into what they are up to. Analysis of factors including posting frequency, content type, creative inclination, and user behaviour may help shape your content strategy moving ahead.

Just Why Should Businesses Do an Investigation of Instagram Rivals?

Keeping tabs on the competition has always been difficult for brands, but they increasingly realise how crucial it is. Collecting information on the competition is a tedious process that often ends with a mountain of information from which to draw no clear conclusions or make any forward progress. Another justification for companies to engage in competitive analysis on Instagram:

Facilitates the Development of Key Performance Indicators

Brands can benefit from doing a competitive study in order to construct social KPIs; while it is essential to develop KPIs based on your own historical performance, it is also useful to compare yourself to rivals.

Change Your Content Approach

Build it and they will come, the old adage goes, but what if they don’t? It’s easy to become stuck in a rut (in terms of both content and style) on social media, but taking a look at what’s working for your competitors might help you ditch the posts and stories that aren’t generating results.

With this information in hand, a competitive analysis may be carried out. The ability to gather, store, and analyse data in a unified manner makes it much simpler to gain a holistic understanding of the competition and draw actionable conclusions.

Instagram: The Secret to Spying on Your Rivals

If you know your business and industry well outside of social media, you should be able to easily identify your competitors on Instagram. If you’ve already discovered rivals outside of Instagram, all you have to do is locate their accounts, which are typically linked on their website if you can’t find them via search.

There are a few options to consider if finding new rivals is a priority. Keep tabs on the brand-related hashtags and subjects being discussed, and take note of the other brands that are mentioned. You shouldn’t be scared to go specific in your investigation. What we mean is that you may replace broad product categories with more narrow ones, such as hashtags or individual goods. Feel free to branch out from the norm when releasing a new skincare product. You’ll have access to more rivals and maybe even draw some inspiration from them.

Techniques for Researching and Comprehending Instagram Rivals

The hardest element of conducting a competitive analysis on Instagram is getting started, but even that just requires a few simple steps. How can you even begin to examine the competition?

Identify the criteria by which you will judge the brands, and then choose your competitors. There will be a lot of competition in the beauty industry, for instance, from both established companies and up-and-coming startups. Want to see how the Top Brands on Instagram promoted the launch of products that were comparable to yours? The process through which a company reintroduced an old product to a brand-new audience. If you’re trying to compete for share of voice on Instagram with other fashionable, youthful companies, knowing which metrics to focus on is essential. You may quickly and easily gain an overview (or go further into the specifics) of what the most successful accounts are doing by utilising the Competitive Insights and Benchmarking features offered by Dash Hudson.
Make a form to save the information you will soon be gathering. It doesn’t matter how complex or simple it is, as long as it provides the measurements you want (more on that below).
After settling on a set of metrics that are relevant to your brand’s Instagram account or campaign, you can begin keeping track of them.
Once you’ve collected your data, you can search for ways to improve your own Instagram approach, such as by forming collaborations with influential users, shifting to a different content type, or even launching a brand-new marketing campaign.
Try to find easy wins, and have a discussion with your team about what can be implemented right now. Finally, create a schedule for pursuing the remaining strategies your team thinks will complement your brand’s identity.

Methods for Drawing in Instagram Followers from Your Rivals

Now that you have gathered information on the competition and have a clearer grasp of what needs to be done, it is time to develop a plan of attack. One place to start is by analysing what you have compared to your rivals and filling up any content gaps. Is everyone else doing something you haven’t started doing yet? Do they seem to be having success with a certain kind of post that you haven’t tried? This is also a chance to spot any holes in current product or service provision.

When you know where you’re lacking, you can focus on improving your content. While imitation may be the highest form of flattery, consumers aren’t interested in firms that are simply following the pack. Customers are seeking for brands that provide something new and improved. Take your Instagram to the next level with the help of the information you gathered about your competitors.

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