How Instagram’s “Shop Now” Button is Shaking Up Publishers’ Social Commerce Strategies
There seems to be a misconception these days that brands can slap a “Shop Now” button onto an Instagram post and instantaneously produce significant revenue. Yes, the behemoth platform has begun to scratch the surface when it comes to monetizing posts. They launched the “Shop Now” feature via twenty participating retailers to much fanfare last fall, giving insatiable Instagrammers the ability to shop up to five tagged products straight from their feeds. This past March, Instagram opened the “Shop Now” tool to thousands of retailers, expanding further still. Undoubtedly, the highly buzzed-about button will play a pivotal role in the way social media impacts shoppers’ path to purchase. But looking deeper, it’s merely a means, not a solution.
We’ve seen brands mistakenly come to view the button as a cure-all that eliminates the need to work with publishers or influencers to promote products. While publishers wouldn’t use Instagram’s “Shop Now” feature directly, more and more have been experimenting with other techniques for monetizing Instagram. For instance, we’ve seen a deluge of product placements in Instagram posts, driving clicks via affiliate links or other commerce tools. Publishers have the capacity to add more context to the items that retailers want to sell and drive better conversions, proving that there are alternative and more effective ways to produce revenue on Instagram.
Josh Payne is the Founder & CEO of StackCommerce, the web’s leading native commerce platform. With a network reach of over 500 million monthly visitors across more than 750+ publisher partners, the company provides turnkey solutions to monetize and engage online audiences through the seamless integration of content + commerce. These solutions include: full-service commerce shops, editorial, email, social, and in-feed product recommendations.