By Instagram’s popularity in the social media world has skyrocketed in recent years. It started out as a simple photo-sharing app, but it has since grown into a major social media marketing channel for many companies.
When trying to stand out on a competitive platform like Instagram, it’s important to develop a strategy that allows you to outperform the competition.
But how do you devise a plan that reliably estimates how likely it is that your marketing approach will resonate with the target demographic? The best way to do this is to keep tabs on what your rivals on the platform are up to.
You can assess what needs to be done through competitor analysis on Instagram to get your brand the engagement you want. Here we’ll go over how to use competitor analysis to strengthen your Instagram brand’s voice and make your journey a little bit smoother.
An examination from one’s contenders on Instagram is recognised as a “competitive
A competitor analysis on Instagram is a way to see how your rivals are doing in the marketing department. The goal is to compile information and generate useful reports so that your brand’s social media campaigns can be compared to those of its competitors.
In this way, you can:
Find out what it is that your audience wants from the industry, and then give it to them by providing them with more useful content than anyone else.
In light of this, let’s investigate its advantages.
Here are 5 reasons why you should be monitoring your competitors on Instagram.
You can learn a lot by analysing your competitors on Instagram, and here are the best reasons why:
1.Identify current and potential rivals
When keeping tabs, it’s important to give equal weight to both established rivals and up-and-coming newcomers. The project management apps Monday.com and ClickUp are two of Trello’s main rivals. Instagram users can now find project management apps like Wrike with a simple search.
Examining one’s known competitors allows for regular benchmarking and comparative analysis. However, it is also essential to find up-and-coming competitors.
It’s an excellent way to meet other business professionals and acquire new knowledge about consumer behaviour. Learn to differentiate between direct and indirect rivals. Everyone might need a unique approach.
2. Recognize the tastes of your intended audience
Investigating the offerings of similar businesses can help you learn more about your target audience’s preferences. You’ll have access to hard numbers on how your leading candidates:
reach out to a specific demographic by learning how they use social media and what kind of content would interest them, then replicating those strategies on Instagram.
You can learn what kinds of posts get the most likes and comments by analysing your competition on Instagram. Your target market can be more narrowly defined. You’ll be free to put more effort into creating a compelling, user-specific social media presence that attracts more potential customers.
The Instagram account for Nike is a fantastic illustration of this. They’ve picked up on the fact that material involving athletes tends to do well. In order to win over their target demographic, they also feature user-submitted content. They can also demonstrate to potential customers how well received their products are.
3. Establish measures of success
The results of your benchmarking efforts will provide you with useful information about your brand’s performance. To be at the top of your game, you’ll be able to use this information to see where you can make the most progress. The generated reports expose the ever-evolving requirements of the market, allowing you to adapt your services accordingly.
You can analyse your own performance and see how you stack up against the competition with the help of a competitor analysis on Instagram. The information you have gathered gives you an advantage over the competition. It aids in launching a company identity that resonates with target demographics.
4. Allows you to establish a standard for your Instagram advertising
Competitor analysis is a crucial first step in developing a winning social media advertising strategy. When you keep tabs on competing products, you can learn more about your target market. It can also help you decide what kind of content would appeal to them the most.
Learn which brands successfully capitalised on current trends and what those brands did to win over consumers with these insights. As a result, you’ll be able to improve your Instagram strategy and increase your brand’s visibility on the platform.
To not repeat the blunders made by rivals, just observe what they are doing wrong. Analyzing your rivals’ Instagram accounts can teach you when to post for maximum engagement and how to gain an edge that will allow you to expand your audience quickly.
The chocolate brands Lindt, Hershey’s, and Toblerone come to mind. The three brands all use visual content as part of their Instagram marketing strategy, as can be seen in the screenshot below. Toblerone, however, is the only brand actively using Instagram’s most popular feature, reels, to attract more customers.
5. A cheap technique
It can be costly to hire a company to analyse your Instagram competitors. However, conducting an analysis with the help of a tool is a cost-effective method of gaining customer and business insight.
What makes a brand popular and what kinds of content get the most views can both be gleaned from Instagram. Your approach to advertising on social media will be enhanced by using this tool.