Is Instagram Still a Good Business Tool in 2024?

Instagram, with its visually-driven platform, has undeniably shaped how businesses connect with their audience. But in the ever-evolving digital landscape, as well as the path most social media platforms are traversing which is to be more video-oriented leads to questions arising about Instagram’s continued effectiveness. While Instagram has launched efforts into being a more video-oriented platform, many businesses still use it for what it has always been–a photo sharing social media platform.

With all these being said, here are some pros and cons of Instagram as a good business tool in 2024.

Instagram as a Hub for Branding and Community Building

Instagram excels at fostering brand identity and building a community. Its visual-first nature allows businesses to showcase their products or services in an engaging and aesthetically pleasing way. The platform’s focus on storytelling and user-generated content encourages interaction and engagement, making it an ideal space to cultivate brand loyalty.

Instagram’s features like Stories and Reels provide diverse avenues for businesses to connect with their audience on a more personal level.

Instagram’s Reach Limitations with its Market

While Instagram boasts a massive user base, it’s essential to consider the demographic it primarily caters to. Consumers today are normally classified in a letter system, the ABCDE system, with A being the wealthiest and E being the poorest.

According to the Philippine Institute for Development Studies (PIDS), the upper class in the country is such a small number that Social Weather Stations (SWS) classifies them collectively.

“SWS even combines the top three classes; its December 2019 survey found ABC 7 percent, D 75 percent, and E 18 percent,” a PIDS article said.

Active Instagram users in the Philippines tend to skew towards the A, B, and C socio-economic classes. If your target market primarily falls within these demographics, Instagram can be an effective tool. However, if your business caters to the D and E segments, you might need to explore other platforms to reach your desired audience.

Instagram remains a valuable tool for many businesses, especially those targeting younger, more affluent demographics. Its ability to build brand awareness, foster community, and drive engagement is undeniable. However, it’s crucial to recognize its limitations and consider your target market carefully. A diversified social media strategy, incorporating platforms that resonate with your specific audience, is often the most effective approach.

By understanding Instagram’s strengths and weaknesses, you can make informed decisions about whether and how to leverage it the best way possible for your business. (GFB)