A Picture is Worth a Thousand Words: Build Your Brand with #Instagram

On the Financial Social Media blog we often talk about your personal social media self in contrast with your professional social media self. Well, in my personal life my favorite social media platform these days is Instagram. I just love this mobile picture editing and sharing application. Because it’s so much younger than my other social accounts, my network is smaller and I have better control over what I share and whom with. For me, Instagram is all about the quality of the interaction, not the quantity. I find myself checking my iPhone multiple times a day to see what’s new on my feed. The pictures, which all look like they were taken by a professional photographer thanks to Instagram’s filters, are a quick way to take a mental break and check-in on beautiful moments happening in other parts of the world. And when I post a photo that I just took and edited, watch out! I shamefully admit, I refresh and refresh my feed to see how many hearts pop-up indicating how many of my friends like my picture. I just may have an addiction.

My Instagram behavior, no surprise, coincides exactly with recent reports on usage of this social media application: Instagram users are highly engaged. 57% of users check the application daily, just behind Facebook with 63% of users who check the site every day, according to the most recent PEW research study on social media use. With over 150 million, very active, users and growing, Instagram somehow has managed to keep its start-up feel, while also permeating our other social feeds. This presents a unique marketing opportunity that businesses are beginning to leverage.

For Business?

The key to Instagram’s marketing potential for businesses is the fact that it is a mobile application, first and foremost. If you’ve keep up with any of the “social media trends for 2014” news floating around the web, you know mobile is a big buzzword for the months ahead. 91% of American adults own a cell phone and 50% of these owners download apps like Instagram. All Instagram actions occur on users’ mobile devices. This is astounding when you think about how little restrictions there are for people to access this platform, literally, anywhere.

Additionally, Instagram allows users to share photos not only with their direct Instagram network, but also through their Twitter and Facebook feeds. If your Instagram network is small like mine, it’s okay because I can just share my photos to Facebook or Twitter if I want more eyes on a picture I’ve created. In fact, the first several posts on my Facebook newsfeed right now are pictures shared from Instagram. The same hashtag, @mentions, liking and commenting practices that occur on Facebook, Twitter and LinkedIn also apply to Instagram. Because it is becoming more integrated with the “traditional” social platforms, it will be harder and harder to ignore Instagram in the future.

For Financial Services?

So, how does all of this apply to financial advisors and the financial services? There are a few ways you can use Instagram in your social media efforts, without having to build a full-blow Instagram presence:

• Take advantage of Instagram’s photo-enhancing tools. If you are already posting photos on your social feeds, you can add filters from the Instagram app to enhance your photos, adding an aura of cool and making them more engaging.
• Test the waters with a personal account. Download Instagram for your own personal use. Pay attention to how comfortable you are using it and who and what you stumble across in your actions. This can help you gauge whether or not this is a medium you think you might also want to use for your financial business. See if you like it and how you can connect with this tool.
• Get the most out of a hashtag. Whether you’re hosting an event or attending one, there’s likely a hashtag associated with it. Don’t just add the event hashtag when you use Twitter; Instagram loves hashtags too! Take a picture of the turn out for your client appreciation event, or the panel you’re sitting in on at a conference. Filter it, hashtag it, share it and you’ll be get a lot of mileage out of your Instagram account!

Think of Instagram as an extension of the work and best practices you’re already doing on social media, and it might just become your next favorite social hangout too! While this is rather uncharted territory for financial services, below are a few examples of companies using the platform successfully.

Do you already use Instagram? If so, what for? If not, would you consider signing up? I’d love to know what you think! If you would like to know more about Instagram, or any social media applications, don’t hesitate to give us a call or send us a message!