The value of Instagram for business

With the platform’s 10 year anniversary making an appearance in 2020, it’s impossible not to reflect on the incredible journey that Instagram has been on; from its humble beginnings as a simple photo-sharing application, to now standing as a global entity that serves as a source of income for many businesses.

If you’re keen to understand just how valuable this diverse and ever-growing social media platform could be for your business, be sure to continue reading below.

The platform’s audience

With 50% of the global audience using the platform reported as being aged 34 and below, it’s obvious to see that Instagram is dominated by younger users compared to other popular applications.

For some business owners, this statistic alone might be enough to deter them from having a presence on the platform. But with a younger audience (often) comes higher levels of engagement, stronger intent, and an intense loyalty to the Instagram environment and community therein.

A consideration clearly demonstrated by the fact that 6 in 10 users on Instagram log into the platform at least once a day for an average of 53 minutes of browsing per session. This leaves the platform second behind Facebook in terms of audience loyalty, and demonstrates the high levels of engagement and interest shown by users of the platform to the content posted and the accounts they religiously follow.

A new e-commerce environment

With the introduction of ‘Instagram Shopping’, and ‘shoppable’ products in both posts and Stories, Instagram is a platform well suited to any e-commerce business looking to shorten the journey between product discovery, and conversion. And with 83% of asked Instagram users reportedly using the platform to research and discover new products or services it’s easy to see how effective these features could be for any business selling online.

What’s more, of the hundreds of millions of users that make up the Instagram audience mentioned before, 90% of these are said to follow at least 1 business on the platform. Making your opportunity to directly communicate with and promote to a loyal audience on the social media platform even more of a reality.

Helping you boost your brand image

Perhaps quite unusually, Instagram is also a powerful tool to help you develop and promote your brand image. By this, I mean your ethics; what you as a business stand for and how you intend to help your wider community.

Although it might not always seem possible (or appropriate) for your brand to indulge in this kind of content on the platform, it’s reported that 70% of consumers want to see brands take a stand on social issues that either: (a) affect the brand directly, or (b) relate to brand values. For instance, significant social or environmental conversations and policies that affect the brand directly or indirectly. 

This in no way means that you need to be marching, creating banners, or writing to your local politician (although those would provide great demonstrations of brand values!). Instead, simply dedicate some time to expressing an interest in wider community and global movements and measures that you can appropriately involve yourself in. You’ll start to see the benefits of helping others for your own business in no time!