Listen Now: Nike and Instagram
Major retailers have been trying to tap into social media to reach consumers, but Nike might be the first to just do it.”
With billions of people using sites such as Facebook and Twitter, companies have tried selling them products with one click buttons or direct links. Unfortunately all those efforts have fallen flat. Now, Nike is jumping in the game and it’s targeting Instagram.
Experts say Instagram is the best bet to sell to its 700 million users because its use of high quality pictures can entice consumers. The site also lets brands tag products in its pictures the same way users tag their friends. Users can tap the tag to be taken to the company’s site to make a purchase.
Nike says the new partnership will allow people to shop seamlessly within the Instagram app; and, companies such as Nike typically already have a large following so it won’t have to spend extra money trying to target users. In addition to all that, Instagram won’t take a cut of any shopping revenue generated through the app. Now that’s a good friend to have.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.