Competition is not only based on companies or people whom you are competing for customers. These companies or people are also business models that you can use them for ideas.
For example: A company with a profile similar as yours may have a bigger following or be more successful. However, it may have a lot to offer you! Use them as reference profiles, analyze their strategies, how they interact with their clients and how they attract them.
Ultimately, their followers could potentially be your clients as well. That being said, it’s not a bad idea to study them and see what tags they use and what profiles they follow. Once you gather this information, you can create your own hashtag strategy, likes or followed profiles.
There are programs designed to help you achieve these actions automatically. Once you have put a hashtag segmentation together, you could try to use one of these programs that will help you acquire followers based on the needs of your business.
Keep in mind that having thousands of followers with no interest in your brand could be harmful to your profile. For example: with a huge audience, it is difficult to keep up with all the interactions. A profile with lots of followers, but very little interactions tends to lose credibility. At the same time, it will be nearly impossible to get the desired sales or leads results with this type of profile.
Our suggestion is to focus both in quality and quantity so you made the appropriate decisions when it comes to the proper segmentation.
Quality or Quantity? How many followers should my business have?
There is a firm belief that there should a proportionate amount of both quantity and quality of followers; however, this is not always the case when it comes to Instagram. This is extremely important specifically for a business-related profile. Business profile depend on a great number of followers but at the same time they should be the right followers so they can potentially become clients.
That being said, it is all based on a balance of the elements. It is not worth to have hundreds of followers that don’t belong to your target market. On the other hand, it is not a good business practice to have a small number of followers as the company can lose credibility and not be positioned correctly on social media. Thus; what should exist on your profile is a combination or balance between followers that can be converted into clients and followers that like the work you do. Here are some questions you can ask yourself to know who your followers are and if in fact they are the right followers?