It seems like there was not one headline in the past couple of weeks that didn’t include “Facebook” or “Instagram” in its title. As the dust settles around Facebook’s acquisition of Instagram, marketers are taking a step back to understand the impact it can have on their social marketing initiatives within Facebook.
With it’s hefty billion-dollar price tag, it is no wonder speculations arose left and right as to why the social network would want to purchase the photo-sharing app, Instagram. Some say it was to drop a roadblock in front of Pinterest, and others claim it was a mobile play. As we evaluate what this means for marketers, and how consumer-to-consumer (C2C) sharing and advocacy is evolving, we wanted to highlight what really resonated with us here at Extole.
Photos represent a huge opportunity for rich C2C sharing and story telling for brands. At the same time, brands can collect further data and insight on consumers that can be used for behavioral targeting:
Facebook is placing increased emphasis on C2C sharing and story telling, letting consumers tell the stories on behalf of brands, with advocacy at the forefront. By acquiring Instagram, Facebook will enable brands to grow audiences, foster rich C2C stories and gain critical insights into consumer behaviors. At the same time, Facebook will be able to expand its mobile footprint. Marketers will be able to tap into C2C sharing, target consumers more effectively and deliver ads based on preferences and engagement types (mobile vs. web). It will be interesting to watch how marketers will utilize Facebook and Instagram, both immediately and long term.