The newest update to Instagram, InstaStories, has created quite a buzz in the world of social media as it opens up a new opportunity for Instagram fans to engage with the platform, potentially making it one of Snapchat’s biggest competitor threats.
Many people in the industry, perhaps recalling previous Instagram features that failed, such as Slingshot or Bolt are predicting a quick demise of InstaStories. However, we at Indahash believe that this time is different.
Facebook and its portfolio company Instagram with the majority of its users between the ages of 18-35 have long been searching for new ways to retain younger users, who are migrating to Snapchat which claims 70% of its user base from those under the age of 25.
Although Snapchat continues to grow at an impressive rate with 100 million active users, Instagram holds the second largest audience with over 300 million active users after Facebook and is by far the most engaging social networking service around. By tapping into the ‘real-time’ video trend, Instagram is optimising their desirability to a younger audience and appealing to non-Snapchat users who prefer the simpler, more intuitive sharing experience that Instagram’s platform offers.
Instagram was at risk of becoming a flawless representation of life as influencers of the platform curated and perfected their content; the fresh approach that InstaStories delivers to users will allow Instagram the potential to place itself at the forefront of this trend by encouraging users to share genuine, true-to-life content on their channel. However this may also be its downfall. Many Instagram celebrities have grown their channel following through their dedication to strategically staging each photo, creating the illusion of a glamorously perfect life, the complete opposite of what Snapchat and InstaStories offers. Although there are some limited editing options, the idea of InstaStories is to establish a Snapchat-style way of posting. With Instagram’s largest influencers this will be a deciding factor as to whether they wish to maintain their carefully crafted identity or opt out of using InstaStories completely.
InstaStories for marketers
Snapchat is a problematic tool for most marketers in comparison to Facebook, YouTube and Instagram, which provide much more resources for marketers to adapt to suit their needs. Brands are already beginning to test InstaStories and compare the results directly with their efforts on Snapchat. By launching Stories, Instagram has generated an enormous amount of buzz around the new application and this will definitely encourage marketers to test InstaStories as an alternative and potentially more comprehensive solution.
The two platforms, although now having a similar function, have a primary difference in that they both vary in style. Snapchat is namely used for communication and sharing unpolished real-time moments which marketers have difficulty utilising for their brands.
Campaigns with mid-tier influencers on Instagram are notable for being extremely creative and engaging. Photos and video prepared by Instagrammers for brands are original, native and credible and because of that, once they are posted by brands on their own profile, are able to achieve engagement rates 10-20 times higher than brands’ own photos. Stories are even more authentic and also give influencers more opportunities to display their creativity. Communication on Instagram using influencers first of all develops credibility and is a natural fit for this medium. If they catch on, InstaStories will only reinforce those benefits.
Some clients have already started putting together their own Stories based on materials generated by influencers active on the platform. For Brands, It is a new avenue for communications with consumers, an authentic and unique form based on the image of numerous influencers and the original content they develop. It is one of the most native forms of marketing communications.
Another key benefit for InstaStories is the ability for brands to collaborate with influencers to create more complex video campaigns for Instagram.
Content added spontaneously and much more frequently is authentic, and authenticity is what users are more likely to interact with. Communications in real-time underscores authenticity of the marketing message, allows influencers to get even closer to their fans and gets brands closer to their consumers. Instagram Stories feature has the potential to expand the target group of this content to new segments, which is a valuable benefit for marketers.
Within the digital industry, the benefits of InstaStories will be apparent immediately. Instagram Stories has huge potential to win over many Snapchat users due to the simple and intuitive functionality of its platform. However the biggest obstacle InstaStories will face is with their existing audience who will have to change the way they have been operating on Instagram to date. Encouraging users to take a real-time, less polished and more risky approach to their content will be a challenge that may determine Instagram’s popularity over Snapchat.
If InstaStories takes off, Snapchat may need to develop a new way to distinguish the features of its product in order to retain users and marketers who follow them.
By Barbara Soltysinka, CEO and co-founder of Indahash
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