The site’s origins can be traced back to an image-sharing service, but it has since morphed into a content aggregation marketplace. Instagram is shifting its focus from social networking to online buying with its new shopping features.
New Statistics: Instagram’s Downloadable Engagement Report
So, what does this imply for companies generally? In order to better understand the Instagram strategies of over 500 businesses, we conducted a poll. What we learned about the social network’s purchasing features is detailed below.
Instagram’s E-commerce Features: Pros and Cons
When we polled marketers about their experience with Instagram’s purchasing features, they ranked improved product discoverability as the feature’s top advantage.
To learn about a company’s offerings, consumers had to go to the company’s website in the past. They can find out everything they want to know about it nowadays. Instagram also has a “wishlist” function that lets users store items they like for later purchase.
The site’s origins can be traced back to an image-sharing service, but it has since morphed into a content aggregation marketplace. Instagram is shifting its focus from social networking to online buying with its new shopping features.
Instagram’s purchasing features also have the added benefit of making it simple to collaborate with stars.
This facilitates the discovery and acquisition of influencer-recommended goods for users.
Let’s move on to Instagram’s lesser-known challenges with its e-commerce features.
Many respondents from the marketing industry grumbled about problems with the supply chain after making multiple transactions. Manufacturers have reported month-long to year-long backlogs since the pandemic, making this a typical challenge for many companies.
Marketers are also worried that their use of Instagram’s shopping tools and access to certain features is not producing enough income.
The present selling costs on Instagram are 5% per shipping, or a flat charge of $0.40 for shipments of $8.00 or less, which 37% of merchants found to be a problem. Brands can save money by sending customers to their website rather than paying for this service.
The potential for data loss is another major issue. When Instagram is used as a one-stop-shop, businesses risk losing insights that could guide their strategy moving forward.
Let’s dissect how retailers are using these purchasing tools now that you know their advantages and disadvantages.
The Role of Instagram’s Shopping Features in Marketing
According to our HubSpot Blog Research, 48% of marketers plan to raise their spending in 2022, and 32% of those marketers are already making use of Instagram Shops as part of their marketing strategy.
Some companies jumped on board as soon as the shopping options were launched, while others are just getting started. As a matter of fact, 36% of all advertisers plan to increase Instagram Shops this year.
In the meantime, by 2022, Instagram Shops will be the most important feature for 14% of advertisers.
Instagram has many useful features for businesses, but its purchasing tools, according to marketers, don’t provide a great return on investment (ROI) in terms of new leads. Better outcomes can be achieved through content posting and getting live.
However, it could be useful for achieving various other marketing objectives, even if it isn’t optimal for lead generation.
Instagram Product Launch Strategies: How Marketers Plan for Success
Our study’s most intriguing discovery is that many businesses rely entirely on Instagram’s e-commerce features.
In reality, 41% of those working in marketing said that the companies they deal with solely use the platform’s shopping tools. The remaining 59% claim that their companies have an online store that is independent of social media.
How, then, do Instagram’s purchasing features affect the introduction of a new product? Only 25% of marketers think it’s best to debut a product there solely.
In reality, eighty-three percent of the marketers polled have collaborated with a company whose product was introduced first on the network.
On the other hand, 15% think that starting a product or service on Instagram alone is a bad idea.
Many topics have been discussed. One undeniable truth is that more brands than ever before will put money into Instagram’s e-commerce features. What resonates strongly with one brand’s target demographic may not do so with another for a variety of reasons.
Don’t be hesitant to try new things and dig into the numbers to see which options provide the greatest return on investment for your business.