3 lessons businesses could learn from instagram
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3 Lessons Businesses Could Learn from InstagramTRANSCRIPT
The Formula of Success 2012?
• In the last years researchers at Thinktank International have conducted numerous qualitative projects around the world, looking at consumer trends, innovation and mobile phones
• We have witnessed the growth of the Instagram users – from a small community of visual innovators to mainstream iPhone users all over the world
• This presentation is an attempt to look at the success formula of this start-up
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1 Billion Dollars? Really?
• It is hard not to be at least a little skeptical about the wisdom of Mark Zuckerberg’s recent shopping spree
• 1 billion dollars for a 2 year old company that does not make any money and has 9 (nine!) members of staff?!
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3 Lessons
• But ... let's for a moment stop wondering about the wisdom of this peculiarly 21st century deal or the sinister plans for world domination that might be behind it - and let's look at lessons to be learned for other companies - start ups or otherwise - who are hoping to make it big.
• Clearly Instagram have done something right to attract the impressive user figures that attracted Facebook's attention
• We think there's 3 key Instagram learnings that transfer well to other tech companies
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Lesson 1Be Focussed!
• Instagram demonstrated a level of focus not always typical of Start Ups
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They concentrated their efforts solely on the mobile platform
• They outsourced online and offline experiences to third parties (like Statigram, Webstagram, Printstagram etc.)
• And gave access only to iPhone users.
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• Arguably this level of focus meant that Instagram never compromised on user experience. They demonstrated Apple-like attention to detail and produced both beautiful and simple technical solutions putting some of their Palo Alto neighbours to shame.
What People Say
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I think the success and value of #Instagram points to the value of simplicity—both in great #design and user interface/experience.
@izzyplus
Apple also selects its own favourite applications, and one of our preferred apps, Instagram, won the honor of being Apple’s ‘iPhone App of the Year’
TechCrunch
We decided that if we were going to build a company, we wanted to focus on being really good at one thing. We saw mobile photos as an awesome opportunity to try out some new ideas
Kevid Systrom, Instagram founder
Lesson 2. #Occupy That Mobile Space!
• If Facebook were created today, it would be as a mobile service
• It is very clear that mobile has been a recent bet for Facebook
• Instagram will help them to grab more land in this still relatively unchartered territory.
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Lesson 2. Mobile Experience at its Best
• Instagram played to the real strengths of the medium and at the same time pushed usage along to create new mobile experiences
• It made the most of mobile as a multiple platform, integrating both camera and communication use.
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• They also understood the importance of instantaneousness and spontaneity for mobile use
Lesson 2. Mobile Experience at its Best
• Instagram also understood the appeal of the visual and the creative to trend-setting Apple users
• The app connects people in an instant and curates their worlds in a beautiful, simple and easy-to-use way
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• Due to its visual nature it broke language barriers connecting users that don't share the same language - arguably adding a new facet to Social Networks and attracting outward looking users
What People Say
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Not sure how I lived without it before. I spend hours posting pictures, commenting, liking and communicating with people all over the world… mostly about cats :)
Lesson 3. Don’t Try to Target Everyone!
• It may have seemed like a crazy move to limit Instagram’s user base to iPhone owners
• But this means that its now 30 million strong community consists of a highly attractive audience of design and tech conscious trendsetters with high disposable incomes
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• In other words, the sort of desirable in-crowd that attracts advertisers.
Lesson 3. Don’t Try to Target Everyone!
• These trendy creatives and photographers made Instagram look cool and hence attracted more users
• A staggering 5 million Android users in merely 6 days
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So What Can 2012 Companies Learn From Instagram?
To re-iterate the 3 golden Instagram rules are:
• Focus
• Pick your audience well
• And Think Mobile (and not just differently)
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PS…
• PS. One thing that is still not clear - what's really worth $1 billion of Facebook's cash?
• If you meet Mark, please ask about his plans for the service :)
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A Few Words About Us
• Thinktank is an international qualitative research consultancy based in London
• We pride ourselves on marketing thinking inspired by real people
• For more see our website, blog or follow us on Twitter
www.thinktank.uk.com
www.thinktank-international.blogspot.com
http://twitter.com/#!/thinktank_int
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THANK YOU!Should you have any questions, please do not hesitate to contact
Konstantin Pinaev [email protected] [email protected]