A new report on prestige brands says that Instagram is the Superman of social media, especially in terms of engagement.
“Instagram has demonstrated more traction than any other platform in 2013, and it registered the strongest year-on-year growth among mobile apps,” says Scott Galloway, founder of L2, a think tank for digital innovation, in its report. And with its clear strategy for monetization and “continual innovation, it's an obvious choice for consumer brands.”
The survey of 249 luxury brands finds that 93% are currently on Instagram, up from 63% in July of last year. And while it is just one-tenth the size of Facebook (which acquired it back in 2012), it has 15 times the level of user engagement that Facebook does. And Pinterest, about a third of Instagram’s size, has only about a third of the level of engagement that Instagram users do. All that “makes Instagram arguably the best tech acquisition of the past five years.”