There are three types of social media competitors that you should be aware of:
Posted: Tue Jan 21, 2025 9:28 am
Consider the always-popular Instagram giveaway. They typically encourage followers to enter by completing several tasks such as following the brand and tagging a friend in the comments. In thi portugal b2b leads s situation, you would look at brands within your niche and take note of the type of prize, the call to action, and which companies received the highest engagement and largest audience growth. After determining the top brand giveaways trending in your market, ideate how to stand out based on your analysis.
How to find your competitors on Instagram
Direct competitors: Direct competitors are businesses or brands that offer the same or very similar products or services as your company within the same market. They target the same audience as you and fulfill the same needs, making them your primary rivals in attracting customer attention and engagement on platforms like Instagram.
barnesandnoble, booksamillion, halfpricebooks, powellsbooks, amazonbooks.
Indirect competitors: Indirect competitors provide different products or services that satisfy the same or similar customer needs as yours but in a different way. They are not direct rivals but compete for the same discretionary spending of customers.
Using the same bookstore example as above, indirect competitors would be book clubs and literary influencers who might not sell books directly but influence where and what books people buy, such as netgalley, colleenhoover or peruseproject. And other competitors could be publishers who sell books directly to consumers through their websites or special promotions, bypassing traditional bookstores.
Emerging competitors: Emerging competitors are new or growing companies that are starting to gain traction in the market and could potentially become direct or indirect competitors in the future. These competitors are often innovative and can disrupt the market with new approaches, technologies, or business models. They are important to monitor as they can quickly rise to become significant players.
For example, new online platforms that offer innovative ways to access books, such as subscription-based reading services or digital book libraries may change consumer habits from purchasing physical books at traditional bookstores. Think: cratejoy, bookofthemonth, bookbub.
3 Instagram competitor analysis tools
1. Sprout Social
Sprout Social equips social media marketers with a comprehensive understanding of competitors’ performance on social media from multiple angles and data points.
How to find your competitors on Instagram
Direct competitors: Direct competitors are businesses or brands that offer the same or very similar products or services as your company within the same market. They target the same audience as you and fulfill the same needs, making them your primary rivals in attracting customer attention and engagement on platforms like Instagram.
barnesandnoble, booksamillion, halfpricebooks, powellsbooks, amazonbooks.
Indirect competitors: Indirect competitors provide different products or services that satisfy the same or similar customer needs as yours but in a different way. They are not direct rivals but compete for the same discretionary spending of customers.
Using the same bookstore example as above, indirect competitors would be book clubs and literary influencers who might not sell books directly but influence where and what books people buy, such as netgalley, colleenhoover or peruseproject. And other competitors could be publishers who sell books directly to consumers through their websites or special promotions, bypassing traditional bookstores.
Emerging competitors: Emerging competitors are new or growing companies that are starting to gain traction in the market and could potentially become direct or indirect competitors in the future. These competitors are often innovative and can disrupt the market with new approaches, technologies, or business models. They are important to monitor as they can quickly rise to become significant players.
For example, new online platforms that offer innovative ways to access books, such as subscription-based reading services or digital book libraries may change consumer habits from purchasing physical books at traditional bookstores. Think: cratejoy, bookofthemonth, bookbub.
3 Instagram competitor analysis tools
1. Sprout Social
Sprout Social equips social media marketers with a comprehensive understanding of competitors’ performance on social media from multiple angles and data points.