Today, that is changing rapidly, Twitter is haemorrhaging users (500m down to around 330m) while Insta is inexorably increasing its reach. Twitter is trying to fight back: increasing its message character count to 280 and encouraging the use of pictures and video. Somewhat ironically, Twitter has now taken a ‘if-you-can’t-beat-em-join-em’ approach and uses Insta to promote its own content. It has 410,000 Insta followers.
So why is all this important for the property business? Well, let’s start with the basic stats: Insta has around 400m users and is growing rapidly. More pertinently, over 200m of those users view a business profile on the channel every day and swipe-through rates to view more info can average around 15-20%. ‘Instagrammers’ are increasingly influenced by the channel with regard to which restaurants and bars they go to, and in the retail sector, the number of Insta followers that a brand has is a key metric when landlords evaluate who they want to put into their shops and centres.
This is a particularly interesting starting point if you’re looking at online ‘pureplay’ brands which have not yet taken physical stores.
In the physical retailing environment, the power of brands to mobilise footfall through their Insta followers is huge – and, by extension, they are also promoting whatever shopping location where their stores are to be found. A brand’s presence on Instagram is becoming a dimension of its covenant strength.
In return, landlords are also getting into gear on Insta. Check out accounts like CarnabyLondon and ConnaughtVillage if you want to see how Insta can convey the heart and soul of place – whether you’re down the road or on the other side of the world.
So if you’re in the property business and you’ve not yet done so, it may be time to become an Instragrammer.