Why Businesses Might be Leaving Snapchat for Instagram
Over the past year viewership for SnapChat’s Live Stories has plummeted. In fact, Snapchat went from an average of 20 million viewers a day to an average of about 10 to 20 million viewers per day, with multiple media buyers confirming that in most cases daily viewership for Live Stories has gone down. But while SnapChat’s Live loses its allure for businesses, Instagram has become the new place to advertise.
A feature called Business Tools, which allows users to learn more about their followers and reach more customers on Instagram will now include insights on stories. Businesses converted to a business profile, will be able to see the reach, impressions, replies and exits for each individual story within Business Tools. The idea being that companies can use this insight to create more relevant content that resonates with its audience.
The addition comes five months after the launch of Instagram Stories, which has grown considerably and has more than 150 million Instagrammers using it daily. It seems that Instagram Stories has contributed to more content and engagement with one in five stories receiving a direct message from its viewers. As of now 70% of Instagrammers already follow a business and one-third of the most viewed stories are, you guessed it, from businesses.
In addition to viewing insights, businesses will soon be able to run immersive, full screen ads in stories. They will be able to use targeting, reach and measurement capabilities that make ads personally relevant to the consumers they wish to reach.
Brands like Mulberry UK, who use Instagram Stories, have already seen positive results. “We’ve been early adopters of Instagram Stories and were impressed by the reach and engagement,” explained Felipa Monteiro, Head of Digital Marketing, Mulberry UK. “Our recent campaigns which included a stories link, received 5X more clicks to site and engagement when compared to the average seen across our other social channels.”
Instagram Stories will roll out globally in the coming weeks. From there, they hope to meet even more business objectives with direct response options available in the coming months.