Your competitors that got into social media early are probably well established with plenty of followers. They do not have to do incentive marketing to get more followers. They just now use social media for marketing. They might post a special offer or promote a new product. How do you compete getting into social media for your business late in the game? Well, you can buy likes or followers. I use Instagram now, and I would buy Instagram followers to get my numbers up to the point where the social media platform sees me as something it can use to get more interest for its subscribers.
The algorithms used for the various social media platforms promotes popular stuff.