Is Instagram worth it? Well, when it comes to creating a successful strategy for Brand Amplification, Instagram may be the perfect platform with 90% of Instagram users following a business account.
The platform can be used for brand amplification if you can manage to reach the correct audience, with 62% of users using the platform to follow or research brands and products worldwide. But with 2 Billion monthly users a successful Instagram strategy is more complex than partnering with a celebrity and just posting a picture. Navigating the plethora of social media platforms is difficult due to varied consumer preferences and market nuances across the Fashion, Lifestyle, and Beauty (FLB) landscape.
But we’ve done the work to help you. In our report ‘Beyond Followers: Exploring Instagram's Influence on Brand Performance’ together with Lyst we have analyzed data from over 3,500 FLB brands to address the challenges of reaching consumers via Instagram and help navigate solutions.
In this blog, we will teach you how to achieve results beyond vanity metrics using essential steps to leverage Instagram to improve your brand's performance.
In this article you’ll learn…
Finding the Right Regions for Maximum Impact: Where is Your Brand Being Amplified
When brands venture into global markets they must understand that the potential value of Instagram varies significantly across different regions. Each market has requirements that demand FLB brands to adapt their strategies, content, and approaches accordingly. To maximize the impact of Instagram, brands need to comprehend the dynamics of their target markets.
For example, while the Americas lead in generating the most MIV® on Instagram, EMEA takes a significant lead in the luxury fashion sector. This is due to Europe's historical heritage. EMEA also has a projected luxury market value of over $560B by the end of 2023. Understanding these insights is essential for a Brand Amplification, teaching where the brands biggest market and competitors are based. For example, an American luxury brand may find huge success in an untapped EMEA market as it’s evident there's more buying power for luxury goods in this region.
Global brands aiming for success on Instagram must thoroughly analyze regional data and segment analysis. By tailoring Instagram strategies to connect with markets you increase the chances of engaging users. Making the most of Instagram's reach allowing you to tap into previously untapped opportunities.
Revamp Your Brand Communication: Achieve Perfect Harmony Between Your Voice and Brand
Instagram offers vast brand outreach, but a one-size-fits-all strategy approach won’t lead to success. One of the biggest errors brands can make when using Instagram is investing significant amounts of their budget in partnerships that don’t reach or resonate with the brand's target audience.
Rather than focusing on metrics such as likes and comments; that don’t drive direct results. Brands should be evaluating their potential partnerships carefully; not just in follower count and reach. But rather making sure that the partner is aligned with the brand messaging and objectives, as well as having an audience that would be interested in the brand.
All-Star Influencer Danielle Marcan partnered with Charlotte Tilbury, creating more diverse and even quirky content; compared to the brand's usual style. This new angle garnered over $358K in Media Impact Value® (MIV®) for Charlotte Tilbury and their products were used in a Reel to create a face tattoo with makeup, opening them up to an untapped market.
Choosing the right partners is crucial for brands because the wrong ones can negatively impact the brand's image. It can leave a bad taste in the audience's mouth and affect the brand's reputation, diluting the brand's identity.
Unleashing the Power of Diversity: How to Amplify Your Brand Beyond Influencers
Owned Media is becoming a serious contender for brand amplification on Instagram allowing brands to establish direct connections with consumers. In our report ‘Beyond Followers: Exploring Instagram’s Influence on Brand Performance’ we found that for the retail segment and mass-market fashion segment, Owned Media was nearly equal to Influencers in terms of MIV® share.
While Influencers do still have a significant impact on the FLB landscape on Instagram. Owned content rose, achieving 40% higher Media Impact Value® (MIV®) in beauty and 16% more in fashion. Making the Voice type only 4% behind Influencer in MIV® share. In the EMEA region, the Top 3 Voices were all Owned Media from luxury brands such as Dior, Gucci, and Chanel, as well as the top Voice in both The Americas and APAC also being Owned Media from brands such as FashionNova and Shein.
As Instagram has grown, it is understandable why it’s become such a huge Influencer marketing tool for brands looking to gain visibility, however, with the increasing prominence of strategic partnerships with publishers becoming an option for brands to amplify their message.
Vogue US ranked top Media Outlet and generated $15.5M MIV® for Chanel. Generating huge amounts of MIV® for luxury brands Versace and Schiaparelli. Proving that luxury brands should not forget the power of partnering with a Media Voice such as Vogue. Sports-based Media Outlets such as Hypebeast US and Sneaker News US also gained significant MIV® for brands such as Nike, Jordan, New Balance, and Adidas.
Publishers such as Vogue and sports accounts such as Hypebeast continue to be top Voices in the FLB Landscape. Vogues US was the top Voice in the Fashion Segment, making $83.2M in MIV®. Sports publishers are also gaining importance as sportswear expands into the lifestyle and fashion sectors. Helping expanding their reach and target audience.
Strategic partnerships with publishers allow brands to leverage existing audiences and shared interests. Regardless of the chosen Voice type, it's crucial for brands to seek out Voices that resonate with their consumers.
Unlocking Success: How to Measuring Performance for Unstoppable Growth
Understanding effective metrics to measure your Brand's Performance can significantly enhance your Brand Amplification. Making sure you're putting money behind things you know work. Analyzing top-performing strategies and benchmarking against your competitors can help you gain valuable insights into what drives brand amplification.
Curious about how your brand stacks up? Our comprehensive Metric ‘Media Impact Value® (MIV®)’ can provide you with an in-depth view of your performance. You can evaluate the impact of your campaigns, pinpoint growth opportunities, and optimize your approach based on the insights gained. Look at our brand ranking to see just one way MIV® can be used by your brand.
Unlock critical insights for strategic decision-making and optimize your brand through the power of analytics. Take your brand to the next level with MIV®
By Emilia Law
Emilia is a Content and Social Media Executive at Launchmetrics with a passion for creating content about the ever-changing FLB Landscape. She is excited to continue growing and developing her content creation skills.