Are you into Instagram?

According to a new report I came across by marketing analytics company SumAll, Instagram is the best social media platform for brands, boasting much higher engagement rates than all other major social networks.

Dan Atkinson, chief executive officer of SumAll, commented that brands that have still not discovered Instagram and have not made it part of their marketing mix are potentially missing out on both increased brand awareness and revenue, Venture Beat website reported.

For its study, SumAll looked at brands that were present on Facebook, Twitter, Google+ and Instagram and had at least 25 followers on each of them. Results showed that the number of new followers this year was the highest on Instagram. The image-sharing app scored a 7% growth rate in both new followers and engagement rates.

But the influence of Instagram on brands also had a more direct financial impact, the study found. UK businesses on Instagram recorded a 3.6% rise in revenues, which was significantly higher than brands across the Atlantic, which saw a more modest increase of 1.5%.

Instagram is the best platform for brands at the moment, agrees Eric Dahan, head of Instabrand (an organisation that focuses on visual social media and its impact on marketing). Dahan told Venture Beat that Instagram was much better than Facebook for businesses.

Different brands measure social media performance in different ways, but many of them state that Instagram is a significant boost to business. For instance, bicycle manufacturer Pure Fix Cycles estimates that every post it makes on Instagram results in about $100 in revenue, while fashion retailer In God We Trust says that Instagram accounts for 2.3% of its revenue, SumAll explained.

If you´re yet to promote your brand through Instagram, it seems now is the time.

By Ben Hollom