Instagram Stories: A Platform for Growing Business

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In the era of 'skip ad' and 'get premium for no ads', Instagram Stories have been a boon to all businesses, especially new ventures. With exciting designs, these IG stories have been glued to the viewers longer than intended, and you never know what is coming next!

Most people today, be it young or old, are more active in the reel world than in the real world! The reel world, or “social media”, has been the game changer now! 

Instagram is one of the most popular social media sites today. Instagram is a social media platform that has gained considerable onlookers, with almost 112.5 million users in 2020. It has expanded from merely being a photo-sharing social media platform to providing tools to help companies succeed, such as data collecting, product collection, etc. The straightforward photo-sharing software is now supporting businesses in scaling new heights. 

Let’s know more about how Instagram has grown and brought a new phase to social media.

Instagram – An Open House for Opportunities

The increased number of social media platforms, especially Instagram, has drastically gained more users since the pandemic’s beginning. Instagram is a house to a large group of businesses. Over 200 million businesses are active on this platform. According to reports, more than 90% of active users on Instagram follow the Business. The main reason behind this is digitalisation.

As individuals increasingly use social media to investigate potential purchases, Instagram acts as a creative avenue for marketers to display their products, services, or pleased customers in action.

Since Instagram has become a go-to word in households, it’s undoubted that most of them are aware of the function of Instagram stories. Branded Instagram Stories are one of the ways that marketers on the platform distribute content to their followers. These Stories allow viewers to discover more about your company and what you have to offer, piquing their curiosity and establishing trust.

Knowing more about Instagram Stories

The first thing to catch an eye on when you open Instagram is the stories. An Instagram Story is similar to a vertical slide presentation of photographs or videos. While some stories might be five or more pages lengthy, others can be as little as one page. Each story page lasts 10 seconds, and the entire edition will vanish after 24 hours unless users want to keep it prominently displayed on their profile, using the feature “highlight”.

Documenting everything is a trend these days. Most of you would use Instagram stories to showcase the documentary, be it a video from a recent vacation or a picture of the last event you had been to. Brands or businesses would use this feature in a much different way. The feature is frequently used to promote photos or video materials relating to their product, brand, or a topic in their sector. By doing so, the brand would be able to entertain and educate Instagram users who like skimming through random stories.

Are Instagram Stories worth a try for Business?

If you’re going to integrate Instagram into your marketing strategy for 2022 or shortly, you should be aware of the following Instagram statistics based on a few reports from the Times of India; 

  • Every month, 1 billion individuals use the Instagram app.

It’s known that Instagram is the most used app in today’s era. All thanks to the digitalisation achieved due to the pandemic.

  • Instagram Stories are used by 500 million people every day.

Many people are constantly on Instagram and would scroll over random stories to acquire knowledge or to know what is happening in the lives of friends, family and influencers.  

  • Instagram users spend an average of 28 minutes each day on the platform.

Many reports suggest that 200 million people view at least one company profile daily.

  • Every month, 130 million Instagram users watch and interact with retail postings.

Instagram has helped promote and arrange a platform for even small businesses, and many companies have started gaining a lot of traffic on their website.

  •  Instagram now has a potential advertising audience of 849.3 million users.

Influencers on Instagram are paid millions for each post they upload.

  • Non-followers who wish to learn more about the items and services on Instagram pay a visit. This implies that consumers use Instagram to understand more about businesses and products.

These are the main reasons why companies want to have an Instagram profile. Instagram would also help them communicate with their consumers daily and interact with future customers. As Instagram has the potential to grow into a full-fledged business platform that would generate a revenue multiple, that would be too good to be true.

According to reports in Business Times, the Instagram story is one of the fastest-growing features. Based on the number of views, the feed is expected to be outgrown.

Fringe Benefits of Instagram Stories to Business

As you can see (and data back-up), the Instagram platform is gaining popularity. Then, why not leverage it to your benefit?

Here are some amazing pointers that would convince you to use Instagram stories as a significant weapon in your ventures;

  1. Instagram reaches most of the audience who are not followers of a particular public page!

Instagram stories can be accessed by anyone who has an Instagram account through the app or the web browser. This implies that individuals who aren’t your followers may be able to find and watch your stories. To broaden the reach of your tales’ content and increase traffic to your website, you may utilise hashtags or tag other individuals or companies.

  1. As a complete conversion funnel, use Instagram stories.

Beyond brand recognition, one of the key benefits that Instagram stories give consumers is that they provide an effective option for the lowest half of the marketing funnel, allowing businesses to enhance lead generation and online conversions.

  1. Increase the amount of time you spend with your present users.

The narrative structure gives you almost limitless ways to engage your audience and present them with helpful information they can interact with.

Examples of Businesses that Use Instagram Stories for Growing their Revenue Multiples

  • Outback Steakhouse

Like America’s Test Kitchen, the restaurant business Outback Steakhouse uses photographs of excellent food and polls to engage its Instagram Story customers.

  • Nike – a one-stop brand for sportswear and casuals  

Nike has a wide range of products that have become a fashion statement, be it shoes or T-shirts. Nike’s Instagram stories contain conversations with well-known athletes who wear Nike gear. Rather than focusing on Nike products, the athletes discuss their professional accomplishments during the interviews.

There are many options for making visually stunning and successful businesses from Instagram stories.

“It’s better late than never is”, as told. It’s never too late to join Instagram and become a successful entrepreneur. Businesses can advertise products and services, build their brand, and increase sales on Instagram with the correct marketing approach. So, start working on the unique strategy to grow your Business on IG!

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