What Marketers Can Learn from Fortune 500 Companies Mastering Instagram
With more than 500 million monthly active users and counting, Instagram is growing fast and showing no signs of slowing down. According to eMarketer, Instagram usage is expected to grow 15.1% this year, compared to the 3.1% growth expected for the social network sector as a whole. In addition, eMarketer said the platform will add 26.9 million new users over the next four years.
What does this mean for marketers? It means that now is the time to explore the platform’s potential for your brand. And looking to some of America’s biggest brands—the Fortune 500—can give you some great insights and inspiration for building your own Instagram strategy.
Fortune Magazine’s annual Fortune 500 list ranks American companies by revenue. In its 2016 The Fortune 500 Instagram Report, TrackMaven analyzed how these top American brands are using Instagram to uncover the components of top performing posts, the most competitive and effective posting times, and offered up specific examples of brands doing it right. They looked at a year of posting data to compile the report.
While this report dives into how the big dogs are using Instagram, the beauty of social media is that it’s accessible and effective for even the smallest businesses. Below are some key findings from the report and some tips that can help guide your big or small brand’s Instagram efforts.
#1 – Instagam adoption among Fortune 500 brands has doubled.
According to the report, TrackMaven found that 50% of Fortune 500 companies are using Instagram, which is up from 24.6% in 2013. In addition, a 2015 study conducted by the University of Dartmouth found that Instagram usage by Fortune 500 companies now surpasses Google+ and Pinterest.
With teenagers and millennials being the most active on Instagram, coupled with the huge growth of the platform in general, I think it’s safe to say that Fortune 500 companies are pivoting their strategies to focus on the next generation of consumers—meeting them on their turf.
Instagram may not be a viable social media platform for every brand, but it should certainly be considered. Determining whether its a good fit will ultimately depend on who your ideal customer and audience is, as well as your business objectives.
#2 – It’s all about engagement.
In the report, TrackMaven wrote: “For America’s biggest brands, Instagram is a sheer engagement game, not a reactive, community platform.”
What exactly does this mean? I believe TrackMaven is suggesting that in order to find success on Instagram you must be present and actively work to draw your audience in. Throwing up any old photo and expecting people to show their enthusiasm with a like or comment isn’t part of a good strategy.
Be authentic and …read more
Source:: Top Rank Blog