As TikTok, the overseas version of ShakeYin, becomes more and more powerful, Instagram, a photo-sharing community, is in crisis and has launched a number of initiatives to rival TikTok.
Instagram Integrates Video Merchandising Features
On Thursday, Instagram announced that it will integrate two of its most important features, namely online shopping and a new Reels short video feature, which will compete with TikTok.
The integration will allow businesses and creators to tag products as they create videos, while consumers can click on the “View Product” button to buy them immediately or bookmark them for later purchase.
instagram (1)
The introduction of shopping videos in short videos allows consumers to buy the advertised products directly, making the ads more effective, and it also gives creators an incentive to make videos. Since Facebook could also charge higher fees for this, it would bring a new source of e-commerce revenue to the social media giant in the long run.
Instagram president Adam Mosseri also admits that it’s important to create meaningful ways for creators to make a living on Instagram, because otherwise they’ll lose out to the competition. And an important part of the future of shopping is driving spending by followers who follow.
In Mosseri’s view, there is a huge long-term opportunity for Instagram in the shopping space over the next 5 to 10 years, even though it’s much more complicated than its traditional advertising business.
Accelerating the pace to catch up with TikTok
Facebook has faced serious problems recently, with the U.S. government accusing the company of monopolizing the social network and using its size and acquisitions to hinder competitors.
Jitterbug Overseas 3 TikTok
In response, Mosseri directly used TikTok as a shield against the arguments.
According to Mosseri, TikTok is an incredibly strong competitor, probably the strongest we’ve ever seen. This company is very focused and executes very well.
The executive acknowledged that it’s Instagram’s attempt to play catch-up in many ways, building a set of features for creators to incentivize them to use Instagram’s platform more. Because without compelling content, the platform would be unattractive.
Mosseri also addressed the possibility that the lawsuit could end in a verdict that forces Facebook to abandon Instagram (which it bought for $1 billion in 2012).
While he argued that splitting Facebook would hurt consumers and small businesses, he also repeated Zuckerberg’s frequent pleas for content regulation. Instagram, for example, doesn’t really want to define hate speech.
He emphasized that Instagram’s goal is to be a partner for small businesses – a stark contrast to the image of a monopolistic giant portrayed by the Federal Trade Commission.
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