In this article, you will learn:
- What is Instagram competitor analysis for?
- How to find competitors: 3 main ways.
- The main stages of competitive analysis.
- How to automate analysis process.
- How to draw conclusions about the work done – in the format of a table with examples.
For what is competitor analysis: goals and objectives
Competitor analysis is an important stage in marketing promotion on Instagram. It is carried out at the stage of preparation for profile promotion: before launching advertising or holding contests.
Competitive analysis will help:
- Create a Unique Selling Proposition (USP) to differentiate yourself from your main competitors.
- Develop a detailed strategy for promoting your profile: for example, after analyzing competitors, you can add new methods of attracting customers to your promotion plan.
- Draw up a content plan based on popular posts of competitors.
- Study the target audience in more detail: interests, geography, income level.
- Determine the market value of the product: for example, if all competitors sell a product / service for 10,000 rubles, then this is the optimal price.
How to find competitors on Instagram: 3 ways
Before you start analyzing your competitors, you need to collect a list of accounts. This can be done manually – without special services and specialist assistance. Let’s look at 3 main ways to find competitors.
The first way to find competitors is by using the Instagram app or web search. Enter the desired keyword in the search: for example, “plastic windows Moscow”.
This will open a list of Instagram profiles that use these “keys” in the name or description of the account.
Important: It is not necessary to include the city name. Even if you work in Novosibirsk and your competitors are in Moscow. Our task is to collect many profiles for analysis in order to get as much information as possible.
The second way to find competitors is with hashtags. Open Instagram app or web search again and enter your target hashtag. The main thing is that it is commercial.
For example, the # plastic windows tag is most often used by companies that install windows. But the #sports tag is general: it can be used by both ordinary users and fitness centers, online stores.
The third way to find competitors is to use the search engines Yandex or Google. Everything is simple here: go to the PS website and enter a keyword – for example, “Plastic windows Moscow Instagram”.
The search results will include Instagram accounts that use the specified keywords.
Competitor analysis: main stages
So, you’ve put together a list of competitors – for example, 15-20 accounts. Let’s move on to the main part of the article – let’s analyze the profiles found.
First, manually – without automating actions. In the next section, we’ll talk about services that will help you conduct a more detailed competitive analysis.
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Exploring the design of the profile
The first step is to analyze your competitor’s Instagram account design.
What to look for:
- Avatar. What image the competitor uses: company logo, main product photo.
- Nickname. Which @username is using: For example, a brand name or a description of a service / product.
- Description. Be sure to check the profile header. See what information competitors provide about the company: for example, opening hours, delivery and payment methods, office / store address. Also, USP is often added in the description.
- Eternal stories. What Stories Highlights are used: for example, a block with examples of works, prices, information about the company.
The next step is content analysis. See what posts your competitors are posting.
Explore which posts get the most likes and comments. This means that this type of content “hits” your target audience. Good formats can be added to your content plan.
Simple example: you’ve analyzed the content of 10 competitors. As a result, we came to the conclusion that posts in the step-by-step format receive the most likes and comments. This means that your target audience appreciates this type of content.
Add a publishing plan in instructions format to your content. This will help increase engagement and reach.
Also examine the ratio of entertainment, information and advertising posts. For example, if successful competitors – accounts with high reach – publish 3-4 sales posts per week, then try to stick to the same frequency.
Check and compare prices
The third stage of the analysis is the simplest and fastest. Your task is to study prices for goods / services.
This will help determine the market value of the product. Example: you are launching a new product, but you don’t know what price to bid. Study 10-15 competitors and see how much they are selling a similar product for.
The fourth stage is the analysis of the competitor’s audience. To be honest, it is very difficult to conduct a full-fledged subscriber analysis manually. But you can still get a general idea of the target audience.
For this you need:
- Examine comments under posts. See what questions subscribers are asking and what they write about competitors’ products / services.
- View accounts of people who like posts. “Go through” the profiles of the competitor’s active audience – from the photos and account description, you can draw conclusions about the interests, geography and even the approximate level of income of the target audience.
Studying the product and service
The fifth stage is the analysis of the product and service. Here you need to make a small remark: sometimes it is impossible to study a competitor’s product. For example, if these are services, then it is very difficult to assess their quality from photos on Instagram. After all, even reviews in the comments can be screwed up.
But in some cases, you can draw general conclusions about the product – for example, if competitors take “live” photos of their products. This information will help you improve your own product or service.
For example, look at how competitors communicate with their target audience: they answer questions in the comments under posts and in Stories, conduct live broadcasts, talk about the main stages of production, introduce their employees.
Automating the analysis process
The competitive analysis process can be automated. The LiveDune service will help you with this.
This is a tool for complex work in social networks. It helps increase audience and reach growth, engagement and sales.
What analysis capabilities does LiveDune provide:
- Account statistics. Hourly collection of statistics on competitors’ Instagram accounts. This will help you find new growth points for your profile.
- Content analytics. You can measure the quality of your competitors’ posts.
- Engagement Rate.
- Track the dynamics of reach.
- Target audience analysis.
- Check for cheating bots.
Analysis of hashtag statistics. For example, you can define which tags will help to display your account in the recommendation.
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Drawing conclusions from the analysis of competitors
The final stage of the competitive analysis on Instagram is summing up. Write all data about competitors in a separate table or text file.
Let’s give an example for clarity. We will continue to work with the niche of plastic windows.
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Conclusion on the analysis of competitors in the “Plastic windows” niche (table):
|Profile styling|| We analyzed 15 competitors. 10 of them use the brand logo as their avatars and only 5 use stock photos of plastic windows.
All 15 Instagram competitors use the company name as a nickname: for example, @plasticlife.
In the description they provide information on the timing of the installation of plastic windows, office address and contacts for communication. The most common USP is a free departure of the measurer.
|Content Analysis|| Basically, all competitors publish examples of their work: photos of already installed windows.
At the same time, most of the likes and comments receive short videos showing the process of installing plastic windows.
Selling posts are published rarely – on average, 5-6 per month.
|Prices||Prices for services start from 15,000 rubles.|
|Audience Analysis|| Based on the analysis of the audience, the following conclusions can be drawn:
– Average age of the target audience – 35 years.
– Owners of apartments and houses.
– Interests: interior design, gardening.
– Floor : 90% of all activity is women.
|Product and service|| It was difficult to assess the quality of the product. As for the service, we made the following conclusions:
– 10 out of 15 competitors very rarely answer questions in the comments.
– Only 2 competitors conduct live broadcasts and publish Stories.
– Posts with information about company and employees – no.
This table is just an example of the analysis of competitors. But you can use it as a template.