Not only can you find the key to business innovation and growth, the popular social network is itself the key to the said innovation and growth. However, it would not be relevant for every type of business. There are many industries that would not find its target audiences on Instagram. If you have a product or service that is aimed at the audiences that typically use Instagram, then the social media platform can be a boon in a myriad of ways.
Can Instagram help products and services?
Products can be a onetime purchase. Services may be long term and hence would require a onetime signing up. The revenues for such products and services may be recurring but that would still mean stagnation. Growth is always about acquiring new clients or selling more products than before. Such growth is relatively easier when a company retains its present clients, courtesy the repeat or ongoing purchase of a particular product by the same consumer and the long term use of a specific service by the same customer. Companies with products that are bought once or only a few times in several years by a customer and services that are time bound, beyond which a subscriber may not sign up again, would face greater odds to grow their business. These companies will have to compensate for the loss of existing clientele or consumers and then add on some new to keep growing.
One of the few ways to fuel such growth is impulse purchase. It is also known as impulse buying. This is quite a widespread practice around the world. People from different walks of life often indulge in impulse buying. They like something or are influenced by others to consider it and end up making an impulsive decision to purchase a product or sign up for a service. Many companies, including global marketplaces and major brands around the world, rely on impulse buying or purchase to fuel its growth. The same companies also rely on impulse purchase to sustain its sales numbers. Your business can capitalize on the different phenomena on social networks such as Instagram to fuel the required growth.
A Great Video About Impulse Buying
Impulse Buying and Social Networks
Impulse buying can be triggered rather easily on social networks like Instagram, provided the strategy is sound. Viral trends, great word of mouth, organic endorsements and smart branding can help companies reach out to certain sections of their target audiences that would not otherwise consider buying a product or trying a service. Also, the bigger your audience is on social networks like Instagram the better it can be for business, this is mainly because your getting your message over to a lot more people. A lot of people and businesses spend a huge amount of time and money trying to build their following on social networks. There are several different options available to increase your following one of which is by buying them from websites that sell them like best followers social. Having a huge following can help your company get a chain reaction and it can have a positive ripple effect on your sales and hence business growth.
Such a turnaround will not happen every time and it calls for some smart innovation. However, if you can devise the right promotional strategy, time and again, then not only would you clock solid growth rates but also be able to sustain them over a period of time. Instagram can challenge interested businesses to strive for innovation and be the key to growth.