The ability to take the quality of your IG marketing up to the next step demands you study the content of your competition.
This will give you great insight about when and what you should publish, and which type of content will be most effective for your intended audience.
Analyzing competition is crucial to establish your brand’s position against others, aiding in improving your marketing strategy Click Here and keeping you in the forefront of your game.
Also monitoring your competitors’ websites allows you to stay one step ahead and find out what’s being used to their advantage in terms of what’s working and not.
What exactly is competitive analysis? And what is its significance?
When you conduct an analysis like this you look at your competitors to discover the strengths as well as weaknesses of their competitors. This is a method of comparing your performance against those who are the most powerful on the market.
This kind of analysis reveals potential growth opportunities. You will be able to determine what is unique about your product in order to draw the attention of your market.
For the sake of reiteration to you, an Instagram competitive analysis can help you:
Find any areas of your marketing strategy that aren’t being addressed.
Look up your competitors and the way of delivering content, their scheduling and so on.
Recognize market threats to your business or brand
Collect data to better know where to position your products on the market
Important metrics to be aware of when conducting a competitive analysis on Instagram
The number of followers This is the social evidence of a brand. This is vital for any Instagram account to be noticed to potential customers.
Quantity of Posts Another important metric Checking how many posts your competitors are publishing will help you to tailor your content calendar to match.
Quantity of Likes The number of likes indicates the authenticity of a particular post and every person is eager to get lots of likes on their posts. The more likes you get on a rival’s post will prompt you to duplicate the same style and type of content that helped them get there. However, you should avoid making copies or using cliches. simply get invigorated by what’s working and not working.
Comments They inform you whether a blog post is motivating or offensive, constructive inspiring, motivating or any other adjectiveor other adjective. They are used to provide feedback on the effect a article has on readers, which makes it an essential indicator for engagement.
Engagement This metric is essential and splits into two parts:
The engagement rate of a post which is the number of reactions an article receives.
Rate of engagement per webpage it is the number of responses the page gets.
top hashtags This one highlights the most popular and effective hashtags that your competition is using. If they are used properly they can help drive the growth and increase engagement.
Some marketers advise you to include hashtags that are useful in captions. Others suggest that they place their hashtags in the comments. However, you can put your hashtags anywhere you’d like.
Methods to carry out an analysis of competition on Instagram
1. Find your competitors by identifying keywords competitive to them.
As a first step, you’ll need to determine certain keywords that your company is trying to achieve. A thorough understanding of your list of keywords will assist in forming an understanding of who you’re competing with.
For instance, if you’re company is about hotels in New York You’re probably interested in keywords such as “best places to stay in New York” or “best New York hotels.”
Then, check out who’s the top performer for these keywords on Instagram and then select the top five keywords that are the most relevant to your product or service and connect them to IG. You’ll soon get an idea of your most popular Instagram competitors.
2. Collect data
Pick up to five Instagram accounts to concentrate on that represent brands you’ve categorized as the best competitors. In the Instagram competitor analysis form, take an entry for the following points:
What size is the business and how quickly is it growing?
How many followers do they currently have?
What is their page and post engagement rates?
Are they the top popular hashtags?
How many hashtags can they use per post?
How much is the social part in the conversation?
What frequency do they blog?
What other social networks are they using?
3. Do an SWOT analysis
Once you’ve collected all of the information you need now is the time to review it to determine the position you’re in compared with your competitors.
Marketers utilize SWOT analyses to understand the similarities and differences between a brand’s image and that of its competitors. The purpose is to discover:
S (Strengths): Note the metrics that show your numbers are more than those of your competitors.
Web (Weaknesses): List areas in which your performance is trailing behind your competition. These are areas that you should to improve by making adjustments to the strategy you use for your Instagram advertising strategy.
Be precise here, as these distinctions will show your options and risks.
O (Opportunities): Now look for opportunities that you could benefit from. These could be areas in which you believe you can improve relative to your competition, based on the anticipated or recent developments on your Instagram world or the data you’ve already collected.
“T (Threats): These are from outside your company and are a reason to take a close review of numbers that indicate an evolution or anything that indicates that things are changing in the course of time.
4. Use tools for analysis of Instagram’s competition
We’ll discuss some of the most effective tools for monitoring your most popular Instagram competitor’s data.
The concept is to note down any crucial information you discover through your research on competitors and integrate these into your updated threat and opportunity analysis.
You can look over any number of accounts you like with these tools:
These tools are useful for finding out details about:
Content from competitors
Historical analysis (days, months, and weeks)
Top-rated posts (what attracts the most attention or likes) and also engagement)
The most frequently used hashtags are the ones that are most commonly used.
The most ideal time and day to post on Instagram is at Instagram
The busiest hours are those of followers
Growth and engagement spikes