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Mark Zuckerberg paid about $1billion in 2012 to Instagram, which was then app, which had only 13 employees and 30 million users. Now, Instagram owns about 500 million users across the globe and still growing.
It is necessary to keep on updating for a social media platform to survive in the highly competitive market environment. As a lot of new start-ups enter, it is necessary for the old guard to stay fresh and acceptable to the existing and new customers.
Instagram knows it very well and evolved from a basic photo sharing and filter app to the one now, which includes videos, messaging, disappearing content, shopping and a lot more. The dominant features added to Instagram now offer a myriad of opportunities to individual and business users to enjoy. In year 2017 too, Instagram seems is fully intent to increase the scope of what they offer.
It was a high disappointment for the businesses that Instagram only offered a very little scope of analytics; which is however changed recently with a new update. The latest addition of Instagram Business Tools now allow the user accounts to be verified as a dedicated business account. This feature will allow the account holders to add the contact methods, directions to businesses, and also get access to the analytics and promoted posts.
Instagram Insights allows the business users to uncover the demographics of the users and follow user behavioral patterns to plan better strategies. The analytics will let the users to get a true insight about the real Instagram followers, posts which have performed well, and where to optimize for better reach. The brands on Instgram had to use third-party analytical tools before the launch of this new business update by Instagram. Going a step ahead, this feature now also allows you to convert the best-performing posts to ads to reach to more people and get conversion.
If you find the just 15-second video option too short to explain your story, Instagram now offers expanded video option for 60-second videos. This offers a better scope for brands to engage users. However, the biggest change ever in Instagram is the scope of live videos like its parent company of Facebook. Once live video starts to work full-fledged, brands and influencers get umpteen possibilities to experiment with user engagement through this channel.
Instagram also prepare various new plans for the brands who are looking forward to advertise through this platform, but it seems we may have to wait for some more time for these options to start rolling. Mark Zuckerberg had once said that until a platform gains at least one billion users, it cannot be counted as a “meaningful businesses”. This implies that there may not be any plans to monazite a public social media platform like Instagram until it reaches the mark. It is also a fact that being overly aggressive about advertising will make a service much less attractive to the common users and in turn restricts its growth. Crossing this mark with the desired number of solid users, soon this year or by next, we can expect the scope for more innovative marketing opportunities through Instagram.