The social media world is one that goes through regular change but, without a solid concept and business model to start from social media platforms may become outdated as the years go by. Top social media platform, Instagram is an example of a business that has worked on ensuring its platform advances with the trends that are popular so they are still popular when new platforms are released. Within this industry, it is important to hold on to your users as they are essentially the only means for a business of this nature to make money.
One of the ways in which Instagram has created its business model to help retain its users is by ensuring they produce regular updates and place extra focus on fixing issues with their applications. This manner of conducting maintenance in order to help their users have the very best experience is definitely a great example of running a business, it not only shows how much you care about your users but it also portrays your social media platform as a professional business that should be taken seriously. By making a conscious effort to ensure your social media application is completely up to date in terms of how it is running you are also increasing the likelihood that your social media business will last a long time in terms of being popular.
Much like how Instagram is regularly making updates to their systems and the formatting of their applications if you were to follow this business model it is likely you would be successful as you are keeping people’s interest with new features and limited application errors.
Another way in which Instagram’s business model has changed the game within the social media industry is by implementing new features within their applications. With features like filters, photo editing, and messenger all coming to the apps as they were developed over the years, Instagram has undergone a drastic change since its release which is all in the name of encouraging their users to keep their accounts and consequently allow Instagram to keep on making a generous revenue. As one of the most popular social media platforms within the industry, it is important for social media platforms to adhere to trends and implement new features to encourage their users to keep their memberships and allow the platform to remain popular.
Increasing and Retaining Users
Another great way to follow Instagram’s business model would be to replicate the high levels of customer service and care for its users. By showing you care about your users you are much more likely to see a more loyal following of your platform which is going to last a long time. With features like instagram audit and data protection services that have been put in place to keep your private information and posts safe from hackers and fake accounts, the level of security that has been put in place within Instagram is definitely setting a good example for other social media applications. It makes sense for business within this industry to try their best to look after their users to the best of their ability, having a large number of users and accounts within your social media platform is the right way to go in remaining popular and to keep on making revenue as a business.
Overall, Instagram’s business model has changed the game in a way that has allowed them to get ahead of their competitors in terms of popularity. If you want an example to follow in this industry then Instagram would have to be one of the best to follow.