Report: Instagram’s Explosive Growth
The latest social media report from L2 Think Tank indicates that Instagram is beginning to outperform other social media platforms because of its proliferating and attractive user base, high engagement levels and e-commerce conducive format.
Visual commerce company Olapic collaborated on the report with insights, such as user-generated images presented on brand Web sites increase conversion by 5 to 7 percent and boost average order value by 2 percent. Luxury fashion brands such as Michael Kors, Burberry, Louis Vuitton and Marc Jacobs have emerged as dominant Instagram players, suggesting that Instagram is ideal for an “evolved form of window-shopping.”
Some excerpts from the report include:
- 93% of the 249 brands surveyed have an Instagram account, up from 63 percent last July.
- 43% of brands post more than once per day and 72 percent are now producing Instagram videos.
- Brands post about 15 images for every video and engagement for images is 1.5 times higher.
- 14% of the brands studied leverage user-generated Instagram content on their Web sites.
- The number of users has increased 66% to 32 million users, the fastest growing of the top 10 mobile apps.
The report also noted characteristics of Instagram photos that work better for engagement versus e-commerce. For example, captions with question marks do a better job of engaging users whereas longer captions without question or exclamation marks perform better for retailers.
Filed under: Social Media Marketing