Updated: Jan 14, 2019
Over the last five years, Instagram has taken the social media community by storm already amassing over one billion users. Business Insider published that Instagram is predicted to be Facebook's main revenue driver by the year 2020. Not only is the audience already on Instagram, but a vast array of monetization options exist as well both for businesses and the individual. Let's dive into the different ways Instagram can be lucrative for business owners and individuals below.
How Can Instagram Help My Business/Personal Brand?
There are many different ways that Instagram can be beneficial to businesses. Below is a list of a few industries and what Instagram provides for each:
Restaurants: By having a large audience and high engagement on your Instagram page, it can significantly increase your social proof. This means that when a potential customer is doing research between your restaurant and a similar one, the page that has more followers, higher engagement (likes & comments) and higher quality images will always be the choice for dining. Human nature will always side with the masses when it comes to decisions like these. Humans equate popularity and quality with numbers and how in demand something is. This is where having a large, quality Instagram page would come in handy.
E-commerce: Where are shopping habits going? Online/social media. When it comes to the demographic of millennials, the way we shop is extremely different from ever before. I use Instagram specifically as the main platform for finding new clothing, shoes, furniture, technology etc. The way that it works is quite simple. I follow pages of influencers and stores that I really enjoy. When they post an item that I like, I look deeper. The days of randomly searching on a browser for a store and then diving deeper into all their products is over. Time is too valuable to our generation. You have to have an audience on your page that you can show individual outfits and products to in order to gain market share today.
Influencers: If you're an influencer, what is the number one thing that you need to gain traction and stand out? FOLLOWERS. Not just any followers though, targeted followers. At SpectSocial one of the amazing things we are able to do is guarantee targeted followers to your page in massive numbers. This will help increase your natural engagement and lead generation. When you hit that 5K follower mark as an influencer you can start to explore different sponsorship opportunities and brand promotions. As you continue to grow, there becomes bigger gigs and bigger money waiting for you. Users the ages of 14 to 70 are making millions of dollars per year just from having a large presence on Instagram.
What Brands Used Instagram to Blow Up?
It isn't too late for you to get started on Instagram. The analogy I always use is, "Not getting started on Instagram today is similar to not investing in Amazon if you were able to rewind time 10 years." Make the jump to Instagram and start pouring your resources into it. You will notice a difference.
Talk with our social media management service and digital consultants at SpectSocial to find out how we can help your business/brand on scale on Instagram.