70% of consumers are using Instagram to discover new products and 60% report discovering new products on the platform. Instagram as a clear impact on consumers and their purchases. 80% of Instagram users decide to buy a product or use a service.
Each month, 130 million Instagram accounts tap on a shopping post to learn more about products.
However, simply posting photos will not generate success. It takes a bit of work and budget to really leverage Instagram and its power.
Here are 2 tips to help monetize your marketing on Instagram.
1. Influencer Endorsements
User generated content has a 4.5% higher conversion rate. Using the power of others with an audience to endorse your products helps to improve your online visibility, reach, interest, and potential sales. This can be done by reviews, tagging, and sharing others using your products. An influencer need only be a satisfied customer with a following, in addition to a celebrity or paid influencer. In fact, 51% of Social Media users trust user images more than brand-owned creative.
2. Advertising
Paid advertising is always a great option to expand your online visibility and increase your reach. Paid advertising of your products or services allows you to target a specific audience and reach users who will be most interested in what you are offering.
Instagram’s potential advertising reach is around 849 million users.
Include Instagram in Your Marketing Strategy
Over 200 million users visit at least one business profile a day. Instagram provides a great opportunity to find consumers ready to make a purchase. Whether it is posting quality content, running paid ads, using influencers, or hashtags it is important to add Instagram to your marketing mix to leverage your full marketing and sales potential.
75.3% of US businesses are using Instagram in 2020, this equates to around 25 million Business Profiles on the platform, it’s time your business was one of them.