L2 Founder Scott Galloway speaks on Bloomberg TV this week on why he predicts Instagram will be the most powerful social media platform within two years. Digital content has shifted from text-based to visual, which humans process 50x faster than words. Galloway noted that much of the traffic directed to brands from Instagram is high-value traffic, meaning more likely to purchase and a higher average order value. Furthermore, Instagram’s advertising business is on the way to generate $250 to $400 million in revenue this year.
Olapic co-founder Pau Sabria also spoke in the segment about the link between Instagram and e-commerce. Olapic links Instagram to clients’ e-commerce sites to boost sales, as seeing the objects in real life settings prompts consumers to take that last step and buy. Sabria said the ‘secret sauce’ to Olapic’s business is finding what Instagrams more frequently lead to purchase. See full interview here.