How to use competition to grow your Instagram business
Finding and analyzing competitors in network marketing is very important for the development of a company. But not because you “need to follow an example from someone,” copy someone's ideas and developments. And while the conditional search for inspiration can lead you to find similar accounts, the main goal should be completely different.
Why you need to look for competitors
Subconsciously, every businessman wants to stay away from good competitors, because the assessment begins with comparison. To some extent, this approach does help to draw valuable conclusions, but any analysis should be carried out with a cold mind.
What should you take away from this?
— The most important thing is his USP. It is usually indicated in the profile biography. This is a reason for customers to choose this particular company, and for you it is an indicator by which you may be less attractive.
— Profile design. For an Instagram account, this is also important.
— Logistics, communication with customers, delivery terms and other technical issues.
— Assortment and prices.
— Estimated company budget and SMM costs.
— The reviews and wishes that subscribers leave in the comments under the posts also deserve attention. From them, you can make the most popular proposals for customers and ideas for the implementation of new functions.
Ideally, after analyzing several profiles similar to yours, you will have an understanding of your strengths and weaknesses, a plan for further promotion and several ideas that are possible for implementation in the foreseeable future.
Step one: defining target audience
The first and most important step is to identify the target audience. You need to know who you are fighting for, who your ideal client is. The list should not be too broad, but not too narrow. The best place to start is by composing a portrait.
— family status;
— hobbies, habits;
— goals and aspirations.
Of course, you can skip something, add something. This is not a universal template for every situation, but only basic points. In some cases, it is necessary to paint a portrait of a potential client down to the smallest detail, and sometimes it is important to know only the goals and level of earnings, as an example.
Step two: search
Next, you need to check all the popular PR methods, from hashtags to telegram channels. Of course, in this case, it is necessary to focus on the previously identified target audience, and to influence only on it.
Even search engines will be able to help you if there are keywords. They should be the same ones that they can use to find you - for example, “meat restaurant Boise”, or “Dallas fashion shop”.
The most convenient way is to search for Instagram itself. The request can also be made by keywords, or you can use hashtags. The first case is simpler and faster, but it does not find everyone.
In the second case, there is more content, and sometimes it is difficult to find what you need among the variety of posts.
You can also see the subscriptions of your subscribers. It is quite possible that there will be competitors among them.
You can not learn from your mistakes if you have the opportunity to look at others. Competitor analysis will give you a comprehensive idea of what environment you are in at the moment, what is required of you, where you are better or worse. You will not only study the strengths and weaknesses of your rivals, but also get new ideas for your own unique promotion strategy.