Hey Labelers, it’s about time that you know all about the changes that have taken place within the Instagram app. Lucky for us shopaholics, it’s something to be happy about. In this case, whether you want to have your business featured in the shops, tag your item to be shoppable, or skip going to the mall, Instagram’s new shop tab feature will make those dreams come true.
You’re likely thinking,“This already exists! Duh, ‘swipe up’ feature.” You guys, this tool is different from what we’ve seen in the past and we guarantee it will revolutionize the platform. Trust! Instagram will generate the brands and products in the shop based on who you follow and engage with.
So What’s The Big Deal?
Ok. So what’s the big deal about this new feature? Well, we’re here to tell you that Facebook and Instagram are working on becoming more e-commerce focused, through the use of these shopping tabs. Whether you’re a consumer or a business owner, this will be beneficial for both parties.
Business owners, this part is for you because we know you’re a numbers person. Check these out. As of 2019, every month over 130 million people tap to learn something about a product that has been posted by a brand, influencer, celebrity, etc. With that being said, on average 50% of Instagram users follow at least one brand on Instagram, we definitely do. Would you believe us if we said that Instagram helps 80% of users decide whether to buy a product or service? Just read those stats the next time someone says “InFluEnCeR mArKeTiNg DoEsNt WoRk!”
We’ve all been there, searching for the perfect shoes to go with an outfit we own and bam! There they are right on our news feed. Next thing you know you’re headed to the website to purchase. That’s where this new feature comes in to eliminate the step of going to your browser to complete the purchase by making the purchase all in-app. We all know when reducing the click to purchase ratio the higher conversion rate you get! 3 snaps for Instagram making it easier to convert those sales!
How Does The Instagram Shop Compare to LikeToKnow.It?
If you’re an influencer and reading this, you’re probably asking how does this compare to LiteToKnow.It? As you may know, Instagram isn’t the first platform to release this shopping based type of program. LikeToKnow.It has been around since 2011 and was built around the idea of shopping through Influencer posts all through an app. LikeToKnow.It is a social-based shopping service powered by RewardStyle. Before Instagram’s new feature, this was a user’s easiest way to shop looks styled by their favorite influencers from their posts.
The downfall to LikeToKnow.It is that their system does not work with all brands and companies, especially small businesses. This narrows down the chances of finding small brands you may have yet to discover. Additionally, finding links to specific items may be difficult as they are yet to be connected with RewardStyle. With that being said, LikeToKnow.It has about 3.4 million users, generated $1 billion in sales, partners with 50,000 influencers, 5,000 retailers, and reaches over 100 countries.
With this new feature, Instagram may be giving LikeToKnow.It a run for their money, literally. By giving businesses the opportunity to link products directly through the Instagram app, can potentially lead to eliminating the need for LikeToKnow.It. While LikeToKnow.It will still remain active for Influencers to tag their favorite products, Instagram will provide the opportunity to expand businesses growth through product tagging. Although LikeToKnow.It may be affected by this update, for now influencers won’t be, as they will still be able to promote products while receiving a commission, through the use of “swipe ups” on stories or linking products through an affiliate code from the brand.
An interesting turn would be if Influencers could link their Amazon shop. Amazon has become a widely growing source for shopping as well which has expanded into an affiliate program, where influencers can use this to their advantage, creating their own ‘Amazon Shop’ for their followers to purchase their favorite products. If this happens, say goodbye to LikeToKnow.It!
When all is said and done, we’re so happy to see Instagram taking this step forward to help businesses both big and small grow and gain exposure through this new feature. While it’s competitors may not be as excited as we are, we believe that this change will encourage both users and influencers to explore new brands they haven’t tried and expand the online shopping market.
With the help of Creative Label, we can work to implement the Instagram shop feature into your marketing strategy and grow your business and brand’s online presence. Check out all of our services we have to offer here.