Half of Fortune 500 brands are now actively using Instagram, with Starbucks and Nike topping the charts for engagement with followers on the social media platform, a new report by TrackMaven shows. The analytics and software provider analysed more than 41,000 unique posts on Instagram from May 2015 to May 2016 as part of its research.
TrackMaven’s Fortune 500 Instagram Report: 2016 Edition aims to shine a light on how the biggest brands are using Instagram to broaden their reach. It found that 98.9 per cent of interactions with some of the largest corporations in the United States were made up of “double-taps” and likes, which indicates that the platform is geared towards engagement rather than feedback and personal conversations.
While Instagram’s core appeal is the use of filters to alter images and photos, almost 90 per cent of posts made by Fortune 500 brands did not use any of the provided filters. This is because publishers often upload pre-made content, but TrackMaven director of content Kara Burney revealed that brands may be missing out on more engagement, as 12 of the filters are known to perform better for engagement.
“This finding indicates that there is an appetitive for authenticity on Instagram,” Burney added. “Brands need to remember and respect that their content is appearing not amongst a feed of other brand-generated content, but among content from users’ friends and families as well. Remaining true to the aesthetics of each social network, like taking and editing photos natively in each platform, could prevent the jarring ‘this is obviously an ad, let me ignore it’ effect on social media.”
Starbucks was one of the first Fortune 500 brands to embrace Instagram, and the report shows that it now has a record-high engagement ratio of 24.64. This figure is calculated via the number of interactions per post for every 1,000 followers. Nike has the highest overall follower count at more than 500 million, and it averages almost 470,000 interactions for every photo it uploads.
Burney concluded by adding that many brands are now seeing higher engagement for posts published late at night and on weekends, as users often peruse the platform during leisure hours rather than between 9am and 5pm on workdays.