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How Fortune 500 Companies Use Instagram

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Now with more than a half-billion users, mobile photo-sharing site Instagram has surpassed Twitter in popularity. In fact, according to GlobalWebIndex, it is the fastest growing major social media network.

So what is driving Instagram’s meteoric rise? Overall consumer appetites for photo and video content is certainly a dominant factor, but demographically speaking, it’s young people that Instagram has to thank for its growth. Sixteen to twenty-four-year-olds have been jumping on the Instagram bandwagon at a rapid rate since 2014, with a full 60 percent of Internet users in this age group having an Instagram account today.

Many small and mid-sized businesses have Instagram accounts but few feel confident the social network is truly paying off. TrackMaven, a marketing analytics platform, recently conducted a study of the Instagram practices and performance of the Fortune 500 from May of 2015 to May of 2016. The findings shed light on adjustments that can improve your Instagram strategy and results.

For most Fortune 500 brands, Instagram is a pure engagement game versus a true community platform, as evidenced by the fact that 99 percent of interactions came in the form of likes with a mere one percent resulting from comments.

The big brands have a slight preference for posting Tuesday through Friday. They have a strong preference for the time of day in which they post with 88 percent choosing 9 am to 9 pm ET and with noon being the most common time. However, engagement levels are highest on Sundays and any day between 10 pm and 3 am, due to limited competition.

America’s biggest brands generate higher engagement scores when they use hashtags or question marks in their posts, with exclamation marks negatively impacting engagement.

Fortune 500 brands usually don’t use filters, as they upload pre-designed photos and videos. When they do use filters, however, their preferences are Juno, Lark and Clarendon, though the filters driving the highest engagement are, in contrast, Mayfair, Hefe and Ludwig.

Which brands are knocking it out of the park? Starbucks, Old Spice and Taco Bell have the highest engagement levels, with frontrunner Starbucks averaging 24 likes or comments per 1000 followers due to its content-driven brand affinity. Nike is also a world-class performer due to the strength of its content. With more than 50 million followers, this brand is the most followed of the Fortune 500 with five times more followers than the next closest rival, Starbucks. Foot Locker is posting more photos per day (3.5) than any other in this esteemed group, and Live Nation is leading the pack in number of video posts at one per day.

Leverage these performance indicators to amplify your Instagram strategy before your competitors do, and you will win market share as a result. Ready to boost your social media performance? Speak up.

How could your brand have an even bigger impact on Instagram? How do you know when you’re investing in the right social media platform for your business?




RedRover Sales & Marketing Strategy creates transformative growth with strategic marketing and sales plans that are based on facts, not hunches. Contact us at 901-266-2662—or email us.
 
Lori Turner-Wilson, CEO and founder of RedRover Sales & Marketing Strategy, can be reached at www.redrovercompany.com.

Posted: 7/18/2017 11:46:28 AM | with 0 comments
Filed under: RedRover, SmallBusiness




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SMALL BUSINESS
Your business may be small, but that doesn't mean that your impact can't be huge! The Greater Memphis Chamber's Small Business Council serves to encourage, support, recognize and be a resource to small- and medium-sized businesses in the Memphis area. Here, our talented panel of contributors will present big ideas that could make a huge difference to your small business. And don't be afraid to ask questions ... no matter how small.

CONTRIBUTORS
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Public Relations
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JOEL MYERS
Human Resources
Joel Myers is a career Human Resources professional, with over 40 years in the field including 26 years in consulting.

TOM PEASE
Small Business Advice
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LORI TURNER-WILSON
Marketing & Public Relations
Lori Turner-Wilson is CEO and Founder of RedRover Company, a sales development, marketing and PR consulting firm. Lori works with companies large and small, from start-ups to mature organizations, to help them improve the productivity of their sales force and the return on their marketing investment. Lori writes a weekly syndicated column for the Daily News, Memphis News, Nashville Ledger, and Desoto Times, among others, titled “Guerrilla Sales & Marketing,” for which she won a 2011 Summit International Award and 2012 International Communicator Award.

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FISHER PHILLIPS LLP
Labor & Employment Law
Fisher Phillips attorneys are ready to help you take a stand: in court, with employees and unions, or with competitors. Fisher Phillips has the experience and resolve to back you up. That's why some of the savviest employers come to the firm to handle their toughest labor and employment cases. The firm has 350 attorneys in 32 offices, including Memphis. For more information, visit www.fisherphillips.com.

PARAGON BANK
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