Business competition has always been cutthroat and being left behind could cost a business dearly, even as far as closure. With the competition moving into the space of social media as well, many businesses are giving their best shot at using platforms such as Instagram to create more brand awareness and potentially, bring in more customers. Instagram is ever-growing in monthly users, already with over a billion, and also has many growth services, such as Growthoid, which makes it a great place for businesses but can also come with disadvantages. While there are many customers due to the space becoming larger every day, it means there is more noise which may drown out your business. Businesses can still navigate the social media marketing world effectively despite this.
Competitors are a large part of what determines whether you will be successful or not. Every business must keep an eye on them while focusing on how to promote their products and services. Businesses can stay ahead of their competitors on Instagram by considering the tactics in this article.
Start with an in-depth analysis
Competitors are often what stands in the way of a business converting a user into a customer. If their product or service is doing something better than you, it may become difficult for your brand to get out there. It is important to identify who your business’ competitors are and analyze their offerings and whether they are products or services. An Instagram brand audit will assist your business measure whether its goals match the results from the account. With the many options being used on your Instagram including Reels, Stories, and IGLive, you want to ensure the content posted is delivering results that match your goals and if they are not, you can adjust your business sails toward more effective strategies. These audits and analyses will help show metrics of content engagement such as likes, comments, views, and demographics that are a great tool in understanding what content works and which does not.
Explore your competitors’ social media content
It is not always necessary to reinvent the wheel by trying to be original. Sometimes, competitors are a great guide as to what works and what will not. By watching what they do, you can develop content using some of the ideas you gain from them. You can look at the kind of videos and photos they use. How often do they use video features such as Reels, Stories, and IGLive, and to what purpose are they used? Additionally, you can observe how often they post, when they post, what successful hashtags they use, and how much engagement they get on their posts. There is a lot a business can learn from its competitors that will help it start a little ahead of the learning curve and as result get more followers. Besides the good, a brand can also learn the bad such as posts that affected their social media strategy whether it was something insensitive or misunderstood in order to avoid creating and sharing content that may create similar results.
Create your identity using collected data
After collecting all the information on your competitors by looking through their niches and understanding what kind of content works, how often you should post, and when to post, it is time to create your own Instagram social media strategy. While many of the ideas behind your competitors can be copied, a brand needs to create customized content using that portrays its uniqueness. You do not have to reinvent the wheel but you need to create content that has similar attributes to competitors such as humor and entertainment using the different features. The content must be unique to your brand in order for the brand to stand out from the crowd. Alternatively, using user-generated content that is similar to competitor content may help a brand along its quest to draw in more followers who could become customers.
Competitors do not always have to be enemies. They can also be a great resource when developing a social media strategy because they may have more successful experiences than your brand. By using in-depth analysis, exploring their social media content, and using that data to create your own strategy, you can get ahead on social media. Businesses can use only what works without making similar mistakes to their competitors by learning from them.