On Shark Tank a few month ago, an entrepreneur revealed that she initially paid nothing for advertising while racking up decent profits. When asked how she got customers she said “from Facebook” but Mark Cuban was not convinced. When she mentioned that she had an image of her wearing a boot sock on Pinterest, Mr Cuban smiled. He knew how effective images on sites like Pinterest and Instagram can be.
There was a recent exodus of customers from Facebook to other social media. One of the beneficiary of this exodus is Instagram. Fortunate for Facebook, it bought Instagram back in April 2012. Currently Instagram boasts over 150 million users.
Retailers and entrepreneurs who are using Instagram effectively to promote their products have been rewarded for their efforts. As noted in an article by Forbes magazine “91% of retail brands have cozied up to the potential buying power of Instagram users.” That buying power is huge.
Companies like Coach, Burberry and Levis have had success with Instagram. Read more aboiut their stories here.