Being acquired by Facebook does a brand good, according to a new study by Simply Measured.
In fact, just a year after being acquired by Facebook, Simply Measured reports that 67 percent of the top brands are now using Instagram – which has seen a 500 percent increase in users since its acquisition, with more than 100 million active monthly users.
According to Simply Measured’s study, which evaluates brands and verticals within the Interbrand 100, Instagram is actually growing faster and proving more valuable to brands than Pinterest. This is because the data reveals that as of May 1, the collective audience of the 76 top companies on Pinterest was less than 500,000, while the 67 top companies on Instagram reach more than 7 million audience members.
It is also important to note that Simply Measured’s quarterly study found that since Instagram's acquisition, engagement rates with images from the social network have dropped on Twitter. This is probably due to Instagram dropping support for embedded images on the micro-blogging social network. Conversely, engagement with Instagram images on Facebook is up by 23 percent quarter over quarter, which is likely the result of moves such as integrating “like” sharing and introducing Instagram Web profiles. For example, the study reports that more than 2 million likes, comments and shares of Instagram photos have occurred on Facebook since its acquisition of the image-based social networking app.
That said, the study also found that top brands are using Instagram more frequently, with 23 percent of the top companies on Instagram posting more than 50 times a month – which is up 20 percent from the previous quarter. Plus, those brands are receiving more than 5,600 engagements per photo, which is up 16 percent from last quarter. The study also rates Nike, MTV and Starbucks as the top brands on Instagram, with Nike becoming the third brand (joining MTV and Starbucks) to reach 1 million followers.
“A year ago, many people were skeptical about Facebook’s acquisition of Instagram and whether it would hinder the network’s growth,” said Adam Schoenfeld, CEO of Simply Measured. “However today it’s very clear that the synergies are not only bringing new users on board, but also creating incredible opportunities for brands to connect with consumers.”