Making Money through the Instagram Model
Instagram was recently acquired by Facebook at a hefty $1 billion price tag. The idea behind the site was founded on the ability to share your life through a set of pictures. Simply take a photo on your Android or iPhone, add a filter, and share it across the site’s internal network or on social media sites like Twitter, Facebook, Foursquare, and Tumblr. The application moves quickly while interacting with each of the previously mentioned social media platforms. Best of all, the app is free.
The business plan on which Instagram was founded is similar to other major sites like Facebook or Google. These sites were founded on the premise of providing a quality service that is available at little to no cost to the web user with the hopes that they will become so convenient that users will decide that they cannot live without them. However, problems can occur when you attempt to profit monetarily from your online business without adding user fees. The Instagram business model found a way to get around this challenge.
Using the Instagram business model, it is important to ensure that quality is maintained consistently. A system needs to perform well and efficiently, and it also needs to be able to think ahead to spot potential issues before they are identified by the user. With Instagram, users can take pictures and then filter them with various image applications. The upload time is short, as while the picture is uploading users can spend their time selecting their filters. A simple click of a button can then share the photo on numerous social networks. According to the New York Times, Instagram’s founders spent hours on the tiniest details of the application, including rounding the corners of the icons within the apps, and this dedication to quality helped to make the application a success.
Ease of Use is Important
In order for products to be successful, they need to be practical, functional, and easy to use. Even the most aesthetically pleasing product will fail if user’s can not figure out how it works. When using an Internet application or website, including some key characteristics can make them easier to use. For example, apps should always include a “back” button, and they should utilize a solid and consistent format throughout all platforms of the applications. Additionally, to make your app stand out from the thousands of other apps on the market, you should be sure to include some type of secret weapon that will keep users interested in your product.
In terms of functionality, your business will be better if your application or website offers a variety of cross-platforms. There are a ton of options available for information retrieval, shopping, and socializing. If users can find one place to take care of multiple needs, they are more likely to utilize it often. For example, if you have an application that allows you to read different documents, you may also want to include functions where those documents can be sent via email and uploaded to social media sites. Try and multi-task your website by including widgets that let your visitors find your Facebook page, read your tweets on Twitter, and pin pictures to Pintrest.
Increase Your Popularity
The popularity of your product will most likely spread through word of mouth. It could be based off of the number of people that visit your site or by the amount of times your application has been downloaded. If you have a Facebook page, the number of “likes” you receive can also be an indication of your popularity. The more people that enjoy your product or “likes” you receive, the more likely that investors will be interested in your product.
Despite the number of fans you have on social media sites, a high quality product is sure to attract customers. Make sure that your product is functional, easy to use, and is of a high quality, and you will be on your way to making a profit through the Instagram business model.