Although the strategy seems alright at first. But there is a loophole in this. For example you mentioned that you need to follow other successful sites, and do what they are doing. But the bigger question that arises is - how are you going to know their strategy, if they don't reveal that in public. To know that you have to do extensive research.
Very good point. And I say this because although you can emulate what's being posted on the page, and possibly even gather the times they are posting if the times are strategic, you can't fully know what their game plan is.