It’s the deal of the year, and while the $1 billion impact on Instagram employees and investors is clear, there are takeaways you and your company should emerge with, as well.
According to Phil Simon in a recent post for Inc., there is a lesson for each of us to be gleaned from Facebook’s acquisition of Instagram (no matter that the majority of us would likely trade that lesson for a fraction of what each Instagram employee is now purportedly worth). While it’s the immediate impact of the acquisition that’s currently making news, it also indicates consolidation of the social media world has only just begun. That has widespread and long-term ramifications for us all, and Simon suggests it highlights the dangers of hitching your company’s marketing efforts to to one particular application or platform.
One need only look to the backlash on Twitter from many Instagram users threatening to abandon the service to see the potential hazard of putting all of your promotional eggs in one basket. As Simon notes, “your hard work and client goodwill can be vaporized with one acquisition.” That’s why he advocates hedging your bets by directing your marketing and promotional efforts to a variety of services, platforms, and apps. For more on what Facebook’s acquisition of Instagram has to teach you and your company, read Simon’s full post here.
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External platforms can provide incredible opportunities to extend your marketing reach, but relying too heavily on any one platform comes with inherent risks. For more on the potential downsides of depending on a platform, see this post. On the flip side, you also certainly shouldn’t be platform shy, and it’s important to make sure you utilize the ones you are invested in as best you can. For advice on taking advantage of Facebook’s timeline updates, read this post from OpenView.