INSTAGRAM: A GIANT THAT UNDERTOOK REPOSITIONING

Instagram, one of the most popular Social Media platforms, was not the most established in 2009.

What started as a quick photo sharing platform went through several changes and additions over the past decade of rise in Social Media popularity. Certain changes are significant and define the era of time. Instagram initially gained popularity from the popular Egg photo which gained traction to become the most liked picture on Social Media; following which it introduced new formats of content sharing that consumers didn’t know they needed.

Instagram not only changed the way consumers view and share content but it also defined and created paths for a rise of a new media and its consumption: Influencers and Content Creators.
The interpretation of the term “Influencers” is a dichotomy i.e.it is both an aspiration and an insult. This segment came into existence as social platforms gave these influencers a path to create and monetize their content.

The significance of the content creators and influencers was clearly highlighted when Kylie Jenner was reportedly paid $1.2M for an Instagram post, making her the highest paid influencer. This is yet another profession that did not exist half a decade back and has now become an aspiration for the new generation. A recent news report suggested that a whopping 54% of Americans aged 13 to 38 would become an “influencer” given the chance, with 12% already considering themselves influencers.

Content creators, who differentiate themselves from influencers by their main profession of creating, sharing and monetizing content on Instagram, have always been around. From the early YouTubers who made funny videos, unboxing programs and video logs have hence matured into mega celebrities. Content monetization was introduced to YouTube in 2008 and has been a primary reason why creators choose that as a primary platform. The recent surge in popularity of Instagram and its newer formats of the content creation has creators use this as a primary platform. Instagram currently has 1Billion users; even though its content is currently not monetized, it has quickly become the fastest growing social platform. One of the primary reasons for this surge in Instagram usage was the ban on TikTok, in India, which is a popular short content sharing & viewing platform.

Most of the changes and updates on Instagram are born out of a need or a trend in the moment. For example, TikTok is popular for its short 15-30 second videos for quick consumption. Instagram had been dabbling with “Reels”, their new content format, similar to TikTok, and testing them in markets like Brazil. “Reels” really picked up when it was introduced in India, in the absence of TikTok.

Time and again Instagram has changed and updated its platform by introducing new assets such IGTV, Lives, AMA etc. Reels was a monumental change as it appealed to a larger audience and gave birth to many more content creators. Being a maximum of 30 seconds, it is a short snackable format with a plethora of features sets.

In spite of the changes in algorithm, the design functionality, removal of likes etc., nothing has been as monumental as the introduction of “Reels”. It has got prime real estate in the app and here’s how – Instagram was built as a Photo Sharing Social app, the bottom centre button on the app is the definition of the app usage which was held by ‘+’ sign to add new photos. This design described the use of the app and more over how the company perceived it to be. This perception changed when reels gained popularity. The design overhaul in November 2020 had one major tweak, the centre bottom button was now a Reels Explore button. Never in the 10 years of its existence was this much importance given to anything. Such a design shift can be interpreted as a change in brand position and how Instagram sees itself today, in the over-crowded social media market. From what used to be a button to share your photographs/videos on social media is now a button for exploring 30 second content. This is the pivotal shift in the philosophy of Instagram which essentially established its move towards a content viewing platform much like YouTube.

We believe that the future might be a balancing act between 30 second Reels on Instagram and long form YouTube content, with one having more users and the other having longer viewing time. This will also add structure to the branded content market, which currently does not appear to have a current ROI metric in place for influencer marketing. Which company comes out as the dominant player, with the ever-growing competition in the Video Content industry, is something we will have to watch out for.

^{THE EVOLUTION OF INSTAGRAM & REASONS FOR RE-POSTIONING ITSELF}

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