With over 200 million active users per month, and over 20 billion photos and videos shared, Instagram has truly come into its own as a leading social media power player. Many looked at Facebook’s $1 billion purchase of the image-sharing platform in 2012 as over valued. However, its phenomenal growth in the years since – at the time of the purchase, it had only 30 million active users – suggests that the purchase was a shrewd move after all, especially given reports that younger users may be shifting away from Facebook and towards sites like Instagram.
Another shift many are grappling with is consumers are more and more accessing the internet via mobile. Facebook, YouTube, and other platforms have struggled to incorporate paid content without turning users off altogether. That’s another reason why savvy marketers are looking to Instagram video: the platform was built for mobile. No wonder, then, that Instagram was called the most effective social platform for business in 2013. Since launching ads last November, Instagram has clearly shown the effectiveness of brand ad campaigns launched on the platform – and the way campaigns can align with, rather than disrupt, the Instagram aesthetic.
Instagram is successfully driving sales in the UK and US among small, medium, and large businesses. In the US alone, Instagram-related sales were up between 1.5 and 3 per cent of revenue. Pure Fix Cycles, makers of fixed gear bikes, explained that each Instagram post is worth around $100 towards its revenues.“With increases in fan and follower engagement nearly three times that of other networks studied, Instagram is the clear winner for 2013.” All four of the networks continue to show their value, with Facebook still established as the overall leading deliverer of ROI for marketing dollars invested. Our results show increasingly, if a company has a actual product to sell and it’s currently not promoted on Instagram, that company is missing out on significant brand awareness and revenue.
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