This year has transformed the business world and forced many entrepreneurs to adapt. And as Chanovia Cook explained to us, pivoting to a new business model is essential for any business to survive the pandemic. In her case, this highly important step came in the form of providing virtual services that catered to students who are seeking internships and preparing for job interviews. In addition to this, she also started offering affordable styling assistance that can work with budgets under $500. What Cook and her company, Prime Fashion Clothing, did are only some of the ways businesses can revamp themselves to better weather the pandemic.
For other organizations and entrepreneurs, pivoting to a new business model can be synonymous with switching to social media advertising. According to Statista’s latest counting, over 3.6 billion people are now using social media worldwide, and that number is expected to grow to 4.41 billion in just five years. What these numbers illustrate is the potency of social media platforms as markets for advertisers.
Of the many social networking sites that have millions upon millions of users, one of the platforms that you should really focus your efforts on is Instagram. Small Business Genius’ compilation of social media marketing statistics noted that over 200 million Instagram users visit a business profile every day. What’s even more interesting is that a whopping 75% of Instagrammers take action. Meaning to say, most of them take the time to visit a website and/or make a purchase. Given these statistics, it isn’t surprising that more and more brands are willing to spend a whole lot more on this form of social media marketing.
A Petal Card post on Instagram influencers reveals that the reach of the platform is so large, brands can pay up to $670 for influencers to post about their products. And as pricey as it may seem, the benefits a brand will be able to reap at the end of such a campaign will surely make every penny worth it. Take, for example, H&M. By working with fashion blogger Julie Sariñana (who has more than five million followers) and model Ela Velden (who has over 1.4 million followers), the Swedish clothing-retail company is now among the brands that have the largest number of followers on Instagram.
A large following can lead to a lot of benefits, especially for budding businesses. An article by Business.com emphasized that such advantages can include a significant increase in sales, improved visibility and accessibility, greater reliability, and boosted customer engagement. Of course, before your business can enjoy such benefits, you first have to learn how to properly market your business on the ‘gram. If you have no idea where to begin, here are some tips that can help you get started:
Switch to Business Profile and use free Instagram tools
Your business’ whole Instagram journey begins with switching to a business profile as early as you can. The reason for this is that there are a number of clear benefits to having a business profile. For instance, your account will have a clickable contact button that will make it easier for your followers to get in touch with you and visit your website. A business profile will also enable you to create and publish Instagram ads and gain access to Instagram analytics tools like Insights. Insights will be your best friend when optimizing your Instagram marketing strategy. After all, this tool allows businesses to view statistics like impressions, engagement data, and, most importantly, a breakdown of the demographics of your followers.
Make full use of the different ad formats
Ads on Instagram come in various forms. There are photo ads that can include a single image, a caption, and a call to action, video ads that can last up to 60 seconds, carousel ads that can contain a number of images or videos, and stories ads that are immersive. To be able to reach as many people as possible, try to make full use of each of these formats. If you have extra resources, you may also want to consider setting an ad budget and showcasing a sponsored ad. Doing so will give your brand the ability to target users that expressed interest in the products and services you sell and offer.