In the rather fluid world of social media marketing, there were at least a few irrefutable truths brands could count on – namely, that Facebook is king and Snapchat was on its way up in terms of relevance and reach. With Facebook mired in a seemingly endless array of scandals and Snapchat suddenly struggling to hold to its existing user base, however, social media marketers now face an interesting question: Is this Instagram’s time to shine?
Of course, Instagram’s been building some impressive growth independent of the calamities currently befalling Facebook and Snapchat. Indeed, Instagram’s revenue and user growth is far outpacing that of its parent company, Facebook, and has been for the past several quarters.
Is that growth a result of the struggles of other platforms like Facebook and Snapchat? Or is it a result of Instagram growing into its own as a stand-alone platform worthy of inclusion in an increasing number of social strategies for brands?
The answer to both questions is “yes.” What’s most important for marketers, however, is less about competitor struggles and more about the features Instagram has recently added have helped fuel its growth as a critical platform – and revenue driver – for brands as part of their social marketing mix. Some highlights and possible reasons behind Instagram’s growth as a marketing platform:
- It drives ROI. Business Insider reported that nearly three-quarters of Instagram users have purchased a product they saw advertised through the app – an astronomical number.
- It drives engagement. More than four times the engagement of Facebook for brands, according to a recent report.
- It’s adding new features. Some brands are now experimenting with augmented reality through Instagram via Facebook’s Spark AR initiative. In addition, they’ve also been testing the use of geofencing to restrict posts and Stories to limited geographic areas. This feature could be of immense value to brands who want to geographically limit their spend and targeting based on their customer base.
- It’s highly visual, which inspires high creativity. Forcing brands to think visually first inspires them to approach content from a more creative and engaging perspective. It forces them to think beyond text-photo-link.
What’s more: As smartphone adoption reaches its saturation point and older consumers continue to become more comfortable with and savvy at visually driven platforms like Instagram, its strategic value becomes greater to a broader array of brands than ever before. It’s no longer just a platform for brands wanting to engage with youth and younger consumers.
Does this mean brands should consider bailing on Facebook? Of course not – nor does it mean Instagram is a no-brainer option for all brands. As we always say, it comes down to clearly understanding audience, which helps dictate which social platforms make the most strategic sense.
What it does mean is that, for an increasing number of brands, Instagram continues to build itself into a picture of social marketing success.