Instagram has been one of the fastest growing social media platforms in the pastfew years since its launch in October 2010. It’s not hard to see the business and marketing potential it provides, yet its business potential is still not fully taken advantage of.
Today, with more and more information, people’s attention spans are harder to grasp ahold of and keep for longer periods of time. Since 90% of information transmitted to your brain is visual and is processed 60,000 times faster than text, photos are becoming more popular in the online marketing sphere.
Not surprisingly, Facebook bought Instagram in April 2012 for $1 billion USD and has seen growths of 23% in 2013 compared to Facebook’s meager 3%. Instagram currently has 200+ million active monthly users with over 60 million photos shared each day. The adoption rate of video in Instagram is hardly scratching the surface. In the U.S.
Fortune 500, only 4% of the big brands have adopted video*. The average photo interaction ratio is 37 interactions per 1,000 followers, while videos are only 24 interactions per 1,000 followers*. This leaves a huge opportunity for video marketers to take advantage of.
Large brands like Mercedes Benz, Audi, L’Oréal, and General Electric are experiencing great success marketing on Instagram. It just goes to show how effective it can be to build your brand and engage your audience.