While in recent years the ability to be discovered organically on Instagram has reduced from 1.6% in 2020 to 1.2% today, Reels has helped shift this decline. Since its launch in August 2020, Reels has provided an easy and accessible way to be found by users, making them a powerful tool to have as part of an overall social media marketing strategy. Hootsuite studied their Instagram analytics and found by posting Reels regularly they had a positive increase in their engagement and follower growth rates.
Like Tik Tok, Instagram Reels are short, vertical videos that feature on the explore page. They are designed to help creators get discovered by recommending users different Reels based on their likes and activity on the app. The Vice President of Product at Instagram, Vishal Shah, has noted that, “Reels is a way for you to get discovered. It’s a way to find a global audience”.
Designed specifically to help brands get found organically, if you’re looking to expand your audience or gain one, Instagram Reels should be a part of your overall social media marketing strategy.
Instagram is a hub for finance brands
“ “Reels is a way for you to get discovered. It’s a way to find a global audience.””
While finance brands may not consider Instagram to be the most relevant channel for them to market, it’s a great way for both B2B and B2C brands to reach a wide and diverse audience. Instagram users not only utilise the app to connect with friends and family, but also to discover new businesses and purchase products making it useful for all types of finance brands. With 80% of people stating Instagram influences their purchasing decisions and 90% already following a business page, it’s important you maximise every opportunity to reach potential customers.
With over 25 million brands featured on Instagram and 60% of users discovering new businesses through the platform, not exploring how your brand could utilise Instagram is a missed opportunity.
Everything you need to know about Instagram Reels
Instagram Reels are short 15-60 second videos that are fun and creative. People view these Reels through a section of Instagram similar to Tik Tok’s ‘For You’ page, as they recommend videos based on what the app thinks you’ll enjoy. This means there’s greater chance of finance brands being discovered as people don’t need to be actively looking for your business for it to be suggested and viewed by users.
On average, people are spending 1.7 seconds on a piece of content on the Instagram feed, meaning your Reel has to capture their attention quickly. Make your video’s bright, engaging and useful for users so the’re instantly enraptured with your brand and product. While the content should provide high-quality information, there should also be a focus on the user. Similar to blog posts, you should analyse what content your audience is engaging with and create Reels aligned with what will resonate with your target audience.
Instagram Reels content that pops
To get your content noticed it’s important that it’s fun, informative and relevant to your intended audience. Here are some tips as to what content will make you stand out and create greater engagement.
Educational content: While users want to be entertained they also want to be educated about financial topics that matter to them. By crafting short videos that explain difficult financial concepts or tips to help individuals handle their money better, you can create a strong connection with your audience.
Showcase your products: Show users exactly how your product can benefit them by sharing an exciting and engaging Reel about it.
Highlight your brand’s personality: Create content that demonstrates your brand and its values. By showcasing who you are and what you stand for, you will become more memorable for users and garner a positive response.
Need inspiration? Here are some financial services businesses that are nailing Instagram Reels content and generating success. Bank of America has positive engagement with their Reels, boasting over 10,000 views for each Reel and a few hundred likes. Their content is focused on timely videos that resonate with different calendar events such as Women’s History Month. Life Happens life insurance is another finance brand that’s creating fun and engaging content. Similar to Bank of America, Life Happens has over 10,000 views for each video despite only having 16.6k followers. Their content is focused on educating everyday users about life insurance, by using bright and creative animations.
Early bird gets the exposure
Instagram Reels is brand new making it an exciting opportunity that can allow you to be discovered by more users over brands that don’t use them. With 79% of brands’ Instagram posts being photos, by providing video content it can set you apart from the competition and reach more audiences. By getting in on the trend early, you can gain greater exposure and a competitive edge.
Instagram are renowned for their ability to claim the best aspects of other social media apps and adopt them into their own. This piggy-backing mentality has ensured they remain dominant globally, as seen with their integration of Instagram stories which subsequently reduced Snapchat’s claim of the audience. In order to get the most out of your social media content strategy, it’s worthwhile incorporating Instagram as their innovative tactics will enable them to remain relevant for years to come.
Instagram is a great space for finance brands to market themselves as it provides greater accessibility for users to locate new brands and products. WIth 50% of Instagram users purchasing a product after discovering it on the app, finance brand’s of all sizes should look to maximise every feature of the app. Instagram Reels is an effective area to promote financial content, as it offers greater engagement and exposure to potential customers. In order for finance brands to remain competitive online, it’s time to start creating Instagram Reels.