It’s not a foregone conclusion that all firms will eventually hang a shingle on Instagram. Having learned from LinkedIn, Twitter, YouTube and even Google+ back in the day, marketers have gotten more deliberate in their cost-benefit analysis of establishing themselves on yet another platform. So says Pat Allen, Executive Vice President, Lowe Group Digital.
“Asset manager adoption of Instagram has been more of a slow build,” says Allen, noting that many of the leading fund companies have yet to establish a corporate Instagram presence and may not.
“The planning leading up to the launch on a new platform can be creative and fun, and Instagram offers a unique opportunity to show a little heart and soul.”
But, Allen continues, “then there’s Day 2 and every day after that. Marketers are loathe to build something unless they’re certain they can sustain it and, with the considerable additional effort required, make a positive, measurable impact. That can be a struggle with corporate accounts on what is a more intimate platform.”
Among financial advisors, too, Instagram usage is off its 2021 peak. According to Putnam’s social media research (see related post), just one in 10 advisors use Instagram for business today.