Competitors vs. Hashtags. What is the best Instagram account promotion method?

Our service provides two promotion methods: "By Hashtags" and "By Competitors".

Promotion is the method the service use to search the target audience to put likes or follow users.
Choose "By Hashtags" option to allow the service to search for all users, who have put at least one hashtag from your list under their posts.
Use "By Competitors" option to allow the service to search for all users, whom you have specified as your competitors.

"By Hashtags" promotion method is commonly used to cover broader audience without paying too much attention to users’ interests and location (excluding the cases with local hashtags, such as #newyork, #losangeles etc.)
For example, if you have an online toy shop, offering throughout Russia delivery.
Our purpose is to make the service to put likes to the users with children.
To do this, we should understand, what hashtags are used by the parents with their posts. For example, parents may use the following hashtags #daughter, #son, #mybaby etc. To find whether you are on a right way, enter the selected hashtags into the Instagram search box and examine the search results. If your search results contain photos of parents and their children, you are on the right way. If the results contain photos of watches, nails, dresses, etc., then try another hashtag. Click here to find more information about how to choose the hashtags.

"By Competitors" promotion method is best for those, who want to attract the users interested in a particular service or product, in a particular locale.
Let’s consider a beauty salon in New York as an example.
Our purpose is to make the service to put the likes and to follow those users, who are interested in related services.To do this, we should search for the accounts similar to our, i.e. the accounts of our competitors in New York.
Click here to find more information how to choose the competitors.
This promotion method allows to narrow our target market.

For this reason, we recommend to use this method to promote your projects. Do the math. The fact that a person is following a company that is selling the dresses means that the dresses are a product of interest for that user. Generally, we can extend this logic over other cases.
However, the fact that we prefer this promotion method does not mean that "By Hashtags" method is less efficient.
In some cases, promotion by hashtags can be even more efficient, then by competitors. For example, you are a B2B company that offers professional cosmetics and associated products on the Internet.Your customers are the companies (both beauty salons and private entrepreneurs), which offer manicure, pedicure, makeup services, etc.
To cover your target audience, you can use such hashtags as #nails, #manicure, #beautysalon, etc.Do the search using these hashtags, and you will find thousands of post created by the consumers of the professional cosmetics.
There are plenty of similar examples. It’s up to you, what promotion method to use, as everything depends on your business area, locale, and goals.