A Picture Is Worth... $1 Billion

Facebook has made some moves, very expensive moves, to better compete in the social media market. In my past Pinterest post, I mentioned the realtively new site is an incredibly fast growing social platform. It's actually the 3rd most popular social media network (after Twitter and Facebook), and is particularly popular among the female population. In fact, 97% of the sites users are women--hint, hint, to marketers trying to reach this audience. Women tend to trust Pinterest recommendations over Facebook recommendations. This could be due to the quality of the photos, the relaxing "pinning" process, and the site's simplicity.

Pinterest is clearly creeping up on Facebook and Twitter, but Facebook isn't going to sit back and watch that happen. The company's strategic purchase of Instagram, a photo-sharing mobile app, for $1 billion is step one in ensuring Facebook maintains its position in the social media market. Any photo taken with Instagram somehow becomes gorgeous and perfect. The app has various filters that can be applied to the photo you take, and then you can post your professional looking picture to your social sites. The Facebook team would never admit they are threatened by Pinterest, but in the press release announcing the acquisition they position themselves in a very Pinterest-like manner. “For years, we've focused on building the best experience for sharing photos with your friends and family. Now, we'll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.” Hmm... what a clever and unique way to state their mission. 

As of now, I don't see how Facebook and Instagram will develop an offering to its users that is even close to being as seamlessly integrated as Pinterest's platform. Even Facebook and Instagram agree it will be a while until anything is really changed by this buyout. So, for now, Pinterest is safe. Facebook is putting its Instagram weapon on the back burner. Will it ever be able to truly compete with Pinterest in regards to photo sharing or motivating consumer purchases through insider recommendations? Probably not. Facebook owns its position as the social network that connects people, brands, and events. Maybe they should focus on making Timeline less annoying so I don't completely switch over to Twitter and Pinterest. Just a thought. 

POGS,

AKtually Ashley