Instagram Head, Adam Mosseri, has stated that the company is pivoting away from a photo-sharing platform focus.
The company will increase their efforts in expanding 4 other key areas on the popular app: videos, creators, shopping, and messaging.
Competing platforms such as TikTok, Snapchat, and Youtube are becoming more and more like each other. All of these platforms have “stories”, content that explodes in virality, and community fostering options.
The COVID pandemic has “accelerated the shift of commerce from offline to online by a number of years” as stated by Mosseri. Instagram’s shopping features as a result have greatly expanded: you can design shopping ads for feeds, have a dedicated “products” page accessible within a few clicks, and as an influencer, you can earn commissions on tagged products that make sales – making influencer sales more streamlined.
Instagram is also exploring recommendations, showing content to users from pages they are not exactly following but are relevant to the users – an optimistic feature for businesses looking to advertise to new audiences.
The Facebook-owned company is showing more resilience in the wake of increasing competition, over saturation, and changing attitudes. Instagram used to be known for just photos, it was that simplicity that gave it so much brand value at the beginning. Soon after Facebook’s purchase of the company, the network effect became too big and Instagram knew that in order to maintain its top position, it will need to adapt and evolve to satisfy users who are loyal to the platform but may leave if a competitor has something unique.
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