Instagram has come a long way over the past 6 years with a total of 5 update changes an increasing amount of popularity, currently having engagement with 20% of all internet users. The social networking platform released a new update this July with various design changes but in particular the order of the news feed. Now at random rather than chronological order, the change wasn’t one to go un-noticed. With Instagram fans having such high brand loyalty for the network, they consider it to be their own. This created some backlash before the update was even released as fans didn’t see the need for change. Once experiencing the changed design fans loyalty and love of the brand grew stronger. This developed an understanding that Instagram users hold large value towards the social networking platform.
Brand value is of vital important when forecasting what is expected moving forward. The future success of Instagram will be based on how well the company analyse competitors and how they react to consumers wants and expectations. This should be achieved through constant consumer and competitor analysis. This type of analysis will help to maintain an understanding of consumers and competitors, to then develop relevant campaigns and strategies to stay ahead of the game. After all, they don’t want to end up like myspace, a dead social network. The failure to maintain strategies is unlikely, considering the company also owns social networking giant Facebook. These two networks creating a power team that seems to be impossible to break.
Instagram has now come out with insta-stories also a part of the newest update. Insta stories have been compared to snap chat and give a further insight into the lives of those we follow. This has been an astounding success and bold move by Instagram giving consumers a platform which is almost identical to snap chat. This feature within Instagram helps users to better connect with their audience and is a great marketing tool for online business. Some consumers are even suggesting that the opportunity with this feature may eventually cancel out snap chat altogether. It’s marketing moves like this that will ensure Instagram stayed ahead of the social networking game.
To conclude I see Instagram continuing to succeed moving forward. Although there will always be a risk that an alternate networking platform will cancel out Instagram, it is not something we can expect soon. If Instagram continue to undergo strategic analysis and create relevant updates to satisfy consumers, it is certain that the brand will continue to rapidly grow. This platform is undeniably of true importance when it comes to business and a marketing tool that has now become a part of society. This social networking giant is changing the way of the marketing world and we can expect to see it used in the future of business.
‘The secret to success is the consistency of purpose’ Therefore, Instagram needs to stay relevant to success in future opportunity!