Competitor Benchmarking

Welcome back to another episode of the London School of Planning and Management podcast, where we turn data into decisions and insights into impact. I am so excited to dive into today’s topic because, quite frankly, it is one of the most powerful tools in any marketer’s arsenal, yet it is often misunderstood or underutilized. We are talking about Competitor Benchmarking. Now, before you roll your eyes and think this is just about spying on your rivals, let me reframe that for you. Think of competitor benchmarking not as looking over your shoulder with suspicion, but as looking at a map that someone else has already drawn through the jungle. It is about understanding the landscape, knowing where the traps are, and seeing which paths lead to the treasure. In our Certificate in Instagram Analytics course at LSPM, we emphasize that you cannot improve what you do not measure, and you cannot measure effectively if you do not know what "good" looks like in your specific industry. So, let’s explore why this matters, where it came from, and how you can use it to skyrocket your Instagram growth.

To really appreciate the power of benchmarking, we have to look back a bit. The concept didn’t start with Instagram or even social media. It has its roots in the late nineteenth century with Frederick Taylor and his studies on scientific management, where the goal was to find the most efficient way to perform a task. Fast forward to the digital age, and this principle evolved into competitive intelligence. In the early days of the internet, companies would simply check each other’s websites to see who had better design. But as platforms like Instagram exploded, the game changed. It became less about static design and more about dynamic engagement. Today, benchmarking on Instagram is not just about seeing who has more followers; it is about understanding the behavior of their audience, the timing of their posts, the type of content that triggers shares, and the hashtags that drive discovery. It is the difference between guessing and knowing.

So, how do you actually do this without spending hours scrolling aimlessly? Let’s get practical. The first step is identifying the right competitors. This is a common pitfall. Many people look at global giants like Nike or Apple and think, "Wow, their engagement is amazing, I should do that." But here is the trap: comparing a local bakery to a multinational corporation is like comparing a sprinter to a marathon runner. The metrics, the resources, and the audience expectations are completely different. At LSPM, we teach our students to identify three types of competitors. First, direct competitors, who offer the same product or service to the same audience. Second, indirect competitors, who solve the same problem but in a different way. And third, aspirational competitors, who are leaders in your industry that you admire. You need to create a spreadsheet or use a tool to track these accounts. Do not just look at follower count. That is a vanity metric. Instead, look at engagement rate. Are people commenting? Are they saving the posts? Are they sharing them to their stories? These are the signals that tell you the content is resonating deeply.

Let me give you a concrete example. Imagine you run a sustainable fashion brand. You notice a competitor, let’s call them EcoThreads, has a post with significantly higher saves than their average. You dig deeper and realize it is a carousel post titled "Five Ways to Style One Dress." It is educational, it is practical, and it provides immediate value. This is your benchmark. You do not copy the post. Instead, you analyze the format. You realize that your audience loves educational content. So, you create your own version, perhaps "Three Ways to Accessorize Your Winter Coat," tailored to your brand voice. This is how you use benchmarking to innovate, not to imitate. It is about finding the patterns in successful content and adapting them to your unique context.

Another crucial aspect to consider is the timing and frequency of your competitors’ posts. Use Instagram’s native insights or third-party analytics tools to see when your competitors are posting and when their audience is most active. You might find that while you are posting at noon, your top competitor posts at eight in the evening and gets double the engagement. This doesn’t mean you must post at eight, but it prompts you to test that time slot. Maybe your audience is active then, but you haven’t been reaching them. Benchmarking gives you the hypothesis; your own analytics provide the proof.

Use Instagram’s native insights or third-party analytics tools to see when your competitors are posting and when their audience is most active.

However, there are pitfalls to avoid. The biggest one is analysis paralysis. Do not get so caught up in tracking every single metric of every single competitor that you forget to create content for your own brand. Benchmarking is a compass, not the destination. It guides you, but you still have to walk the path. Another pitfall is focusing solely on negative aspects. If a competitor is struggling, do not just gloat. Ask yourself, "Why are they struggling? Is their content too salesy? Is their posting inconsistent?" Learn from their mistakes as much as you learn from their successes. This holistic approach is what separates good analysts from great strategists.

At the London School of Planning and Management, we believe that data should empower creativity, not stifle it. When you benchmark effectively, you free up mental space. You stop wondering, "What should I post?" and start asking, "How can I provide more value than this?" This shift in mindset is transformative. It turns competition into collaboration with the market, helping you understand what the audience truly craves.

As we wrap up this episode, I want you to take one action this week. Choose one direct competitor and one aspirational competitor. Look at their last ten posts. Identify the one with the highest engagement and ask yourself three questions: What was the format? What was the hook? And what value did it provide? Then, take that insight and apply it to your next piece of content. That is how you grow. That is how you turn analytics into art.

Thank you for joining me on this journey through the world of Instagram analytics. If you found this episode helpful, please subscribe, share it with a fellow marketer, and leave us a review. Your support helps us bring more valuable content from the London School of Planning and Management to your ears. Keep analyzing, keep creating, and keep growing. Until next time, happy scrolling.