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Written by: Rachel Clark
A Nostalgic Look Back: Instagram's Humble Beginnings
Instagram has come a long way since its launch in 2010. I don’t know about you, but the overly-filtered, dramatically-framed photo-sharing app immediately gripped me. My friends and I took pictures of every little thing: pets, food, random scenery, etc., edited them all to hell in Hipstamatic (IYKYK), and shared them like they were worthy of Ansel Adams’ praise. There was no intent to “influence” or “market” anything, it was just another way to share various, now seemingly unimportant, things with our friends and family members.
Photo creds : @rach901 @baberahamlincoln @manda_m_baby @c_kent6 @amiraahussey222
Cut to today and Instagram looks a bit different. Open up your app and you’ll still see photos (some of them still highly filtered, sure), but there’s a different feel when scrolling through your feed nowadays. Aside from the obvious advances in photo quality and features like Stories, Reels, and Notes, people are sharing what is meaningful and valuable to them. What you’re seeing now are things that have been carefully crafted and created by users who are utilizing the platform to share their passions, and often, their businesses.
I’ve already mentioned that Instagram started over a decade ago as a strictly social platform where people would share photos and videos with their followers. In 2024, 70% of users are using the platform for this reason. Instagram users are still there to see creativity and expression from the accounts they follow. What’s changed is the WHY users are scrolling through those photos and videos. It’s not simply a mindless task, seeking sheer entertainment, although we still want to be entertained, of course, but it’s also a place to be informed.
Personally, I find something new, interesting, and/or motivating every time I use Instagram, whether it’s a recipe I want to try, a place I’d like to visit, or even being reminded by my peers that I have work to do! I also have felt personally victimized by their ads - they seem to know exactly what I like - and I have made many an impulse purchase thanks to clicking through Stories or scrolling past a “Sponsored Ad.” And while that might not be the best thing for my wallet, it’s a great thing for businesses looking to increase their reach and connect with new potential customers and clients.
The Stats
According to recent statistics, Instagram has over 2 billion users, with 200+ million of those being business accounts. What’s even more important than the number of businesses on Instagram is the number of users who use the platform to find the business they are looking for. Internal IG data reveals that 70% of shoppers look to the platform for their next purchase, and 63% of users follow or research brands and products on the app. This makes it the third most preferred activity on IG, so it’s safe to say that the platform is certainly playing a role in its users’ buying decisions.
Big Takeaway: Instagram is where people go to find inspiration and discover new businesses!
A lot of people are using Instagram, like, a lot, and when you have a huge number of users on any given platform, you are going to have a lot of diversity as well. So who are Instagram’s users? Fortunately, IG has a wide range of ages and genders, meaning it’s likely you can find your target audience on the platform. You know the saying, “There’s something in it for everyone,” well, there’s something for everyone on Instagram.
The most recent data shows that IG users are fairly evenly split between male and female, roughly 48:52%, respectively, with ages ranging from 13-65+; however 60% of Instagram users are ages 18-34. The good news there is that age group also uses social media as their number one source for discovering new businesses, meaning social media is more prominent in their decision-making than search engines and traditional marketing strategies. While this age group isn’t a typical demographic for Financial Advisors, there are plenty of high-earning professionals and entrepreneurs using Instagram who could be interested in your services.
Your Brand and Instagram
So you’ve got an Instagram account. Now what? The first thing you need to do is optimize your profile. If you haven’t already, make the switch from a “personal” account to a “professional” account. Business accounts have access to features separate from personal accounts - features like analytics (who is looking at your posts, which posts perform better/worse, etc.), call-to-action buttons, ad boosts, and more. It also gives you the ability to be more specific about your business, highlighting your industry, location and hours (when applicable), contact information, and up to 5 external links, e.g., your website. This means you can keep your “Bio” short, sweet, and to the point - simply state your purpose or what problems you solve.
It’s also important to make your profile visually appealing. Think of your profile like you would a landing page. Your profile picture should be a high-quality image or graphic, e.g., your company logo or a recent headshot. Try to keep it relevant to your business, and make sure it’s easy to see in that small circle. To give your profile a cohesive look, incorporate your brand’s aesthetic into most, if not all, of your posts. You don’t want to overwhelm your feed with one color, but keeping everything consistent gives your profile a put-together look. Keep that in mind when choosing Story Highlight covers too. It’s fairly common to see Instagram users create their own Highlight covers using their brand colors or theme (Canva is a great tool for that).
Ok. Your profile pic looks good, your highlight covers have been chosen, you’ve read the stats, so it’s time to post, right? Well… not quite. Before you start posting, it’s important to get to know your audience. Use Instagram’s search feature to find accounts similar to yours and see who they are engaging with, which of their posts are garnering the most attention, and what else do their followers seem to like; also, take time to connect with those followers - a simple “follow” or “like” can put you on someone’s radar. It’s much easier to get started with a little inspiration.
It’s time to post… right? Almost!! It’s important to have a social media strategy before you click “share.” Make a schedule for yourself so that your posts are consistent. You don’t want to dump 10 new posts at once and then not post again for 2 weeks. Remember, out of sight, out of mind. If you’re not posting, you’re not being seen. Find a time that works with your schedule to post at least 3x a week at a time when your audience is likely on social media, e.g., morning scroll sessions, lunch breaks, evening couch potato time, etc. With your business account, you can also schedule posts in advance, which alleviates some of the pressure of remembering to post consistently.
Now it’s time to post!
What Works
Know the Algorithm
Oh the algorithm.
Let me start by saying this: the algorithm is dynamic. It is an ever-evolving thing that affects your reach on social media. By definition, the algorithm is a set of rules that social media platforms use to rank, filter, and organize content for users. The algorithm's goal is to create a good user experience by showing users content that's interesting and engaging based on their preferences and previous activity. This means that everyone’s experience on Instagram is different, even if they follow the same accounts because they at some point have shown different preferences. It also means that you need to make the algorithm work for you by capitalizing on your audience’s preferences.
Static Images & Carousels
If a picture is worth a thousand words, then your posts have the potential to say A LOT to your potential clients. Static images aren’t garnering as much reach as video content, but they aren’t obsolete! It’s important to keep your static posts and Carousels (groups of images on the same post, up to 10 at a time) engaging. Surprisingly, to me anyway, text-centric posts are seeing a rise in popularity, possibly because they stand out among the photos. These types of posts are a good way to share stats, infographics, and quotes. Recent updates to the app also now allow you to add audio to your static posts and carousels. Popular audio or a catchy tune, a bop if you will, can interrupt scrolling and encourage someone to stop on your post.
Stories & Story Highlights
When it comes to the types of Stories that people want to see, short narratives are the most popular. 35% of consumers prefer Stories with a mix of photos, videos, and text. Stories with quizzes and polls are another popular option and can encourage more user engagement. If you post a Story with a poll or quiz, share the stats with your audience. Users like to see that their contributions are valued.
Limit stories to just a few frames. Don’t be that person with 72 Stories being shared at one time. Studies found that the attention span of most users ebbs after just 2 or 3 frames with a more intense decline after the 7th frame, they just start click-click-clicking through at that point
Reels
Video content reigns supreme. According to Sprout Social, Reels continue to surpass other content types in terms of reach. Studies found that Reels see an average reach rate of almost 31%. That’s double the reach rate of other content formats. Even in terms of impressions, Reels surpass other post types with 2x more impressions. Instagram prioritizes video.
Remember, your Reel cover image will show up on your account’s feed grid (unless you choose to remove it), so keep that image consistent with your other posts.
Captions
Don’t skimp here! Posts with longer captions, 1000-2000 characters, have a higher engagement rate, twice as much, than posts with short or absent captions. An insightful, informative, and entertaining caption will increase your followers' time viewing your posts, and calls to action or asking questions can boost your engagement and reach. Adding “hooks” to your captions is a great way to encourage engagement as well. Start your caption with attention-grabbing examples:
Your captions can also help with your SEO. Keep on reading, we’re about to get to that.
Optimize SEO
If this is a new term for you, SEO (Search Engine Optimization) is a process that helps websites rank higher in search engines and it is important to use it strategically. It’s not just about #hashtags anymore. While the hashtag still serves a purpose (visibility when a user searches) SEO is a bit more complex than adding a bunch of hashtags to your post and hoping for the best.
Here are some easy tactics you can incorporate into your marketing strategy to enhance your SEO:
- Include relevant keywords in your captions that target your niche audience - managing wealth, financial strategy, debt relief
- Engage with similar accounts, as well as current and potential followers - consider a collaboration or cross-posting with another advisor or client
- Include alt-text (a back-end feature - textual description of your image) in your posts
- Integrate trending topics, e.g., holidays, current events, etc., #firstdayofsummer #noshavenovember #taxseason
- Keep it PG - posts that violate IG guidelines will be removed and graphic images are less likely to have an organic reach
User-Generated Content (UGC)
UGC is consistently growing in popularity on social media and 90% of consumers say that it aids in their purchasing decisions. What is UGC, you ask? It’s more straightforward than it sounds. Reviews, testimonials, success stories, etc., all fall in the window of UGC. Do you have a customer success story? Let them share it! By showcasing your clients and not just your services, you can instill a feeling of authenticity, as well as encourage a sense of community and loyalty to your brand.
The Fun Stuff
It doesn’t have to be all about the finances! Your followers want to know you, not just your business. Share a selfie or a quick Story of something fun you did over the weekend, post about your staffs’ accomplishments, or do a photo dump of an industry event you attended. Have some fun with it!
Wrap It Up
Instagram’s organic reach is one of the best out there for social media platforms, and if you are using it in your marketing, or plan to, keep these practices in mind:
- Familiarize yourself and engage with your audience - stay current, keep up with trends, and respond to comments and messages promptly
- Monitor your analytics to understand what content resonates most with your audience and adjust your strategy accordingly
- Keep a consistent posting schedule - ensure your content is fresh and relevant
- Use high-quality visuals and graphics to grab attention, accompanied by concise and informative captions
- Maintain an aesthetically pleasing feed - on brand, no clutter
- Utilize Instagram Stories and Reels to share behind-the-scenes content and quick tips, making your profile more dynamic
- Collaborate with other professionals in the financial industry to expand your reach
- Respect the algorithm, even if you don’t like it
- And don’t forget - have fun!
If you found this helpful, be sure to follow Niki Clark Marketing on Instagram , LinkedIn, and YouTube for more marketing tips, and subscribe to our weekly newsletter for all the good stuff right in your inbox!
As always, make sure you are in compliance. I recommend you know beforehand what you can and cannot do so you aren't wasting time creating only to have to take down a post. We at Niki Clark Marketing have found it works wonders to check with your compliance department to know the parameters when using Instagram. This usually saves some headaches and frustrations. It is important to note that most compliance teams do not allow Stories as they disappear after 24 hours and there is no way to archive them. That is why we recommend using Reels, as those have a great organic reach and stay on your account.
If you haven’t already signed up for Instagram and are unsure how to get started, click here or reach out and we can help you create and optimize your account.
Related: Common Social Media Mistakes Financial Advisors Make: And What To Do Instead
Sources:
Instagram statistics you need to know for 2024
29 Instagram Statistics For Marketing in 2024