As Instagram is constantly rolling out new features to enhance its presence in the world of social media, businesses are getting an increasing amount of opportunities to market themselves. Now you can even sell your products directly from the app. As any business owner, you might want to arm yourself with the latest statistics to help you out. These will help you strategize better and get your business noticed more. Advertising has helped many small and large businesses gain and retain customers on Instagram. Instagram is a large hub for the youngsters today, with influencers and businesses making good use of it to get ahead.
We have compiled a few statistics for you to start thinking about making Instagram your next place to expand your business. This up-to-date list will help you out in making many changes in your business model that can benefit you greatly.
- POTENTIAL ADVERTISING REACH STATISTICS
Instagram’s potential ad reach is close to 1.16 billion people. This is about 19% of people aged above 13. The huge market that Instagram has, has been proven a truly amazing marketplace for many businesses, small and big alike. When the ads reach more people, any business is bound to retain a few customers at least, and start establishing a loyal consumer base.
- INSTAGRAM USERS INTEREST ON SEEING ADVERTISEMENTS
Contrary to popular belief, people are not annoyed when they see advertisements. 50% of the users have said that they were more interested in a brand after seeing it on Instagram. This means that even if users are not clicking directly on the ad when they see it a sufficient amount of times in their feed, they might consider buying it. People on Instagram are open to trying new products and supporting businesses.
- USERS THAT FOLLOW BUSINESSES
It is known that 90% of the users on Instagram follow at least one business. Instagram is no longer a platform for just friends and family photos, it has become a full-fledged business model now. Businesses can also collaborate with influencers to motivate users to give their brand a chance. Almost everyone who uses the platform has been influenced in one way or another to purchase something.
- AVERAGE ENGAGEMENT RATE FOR A BUSINESS ACCOUNT
The average engagement rate for a business on Instagram is 0.96%. So it is safe to say that for every 100 impressions, you have the opportunity to convert one of them into a customer. Small businesses see a higher engagement rate due to the close attention they pay to their customers’ needs. Whereas large businesses may often see a dip in this factor, owing to the large base of consumers they have.
- REACH OF ADVERTISEMENTS AMONG YOUTH
Instagram has a global following among today’s youth. By advertising on Instagram, you can reach an audience of 83 million people aged 13 to 17. So if your product or service caters to their needs, do not waste any time starting an Instagram handle for your brand. It falls third, behind Facebook and Snapchat in terms of influencing the young generation.
- ADVERTISEMENTS ON INSTAGRAM STORIES
As many as 4 million businesses use Instagram Stories to market their business. It is a convenient option as many people use stories to catch up with others and an advertisement between two stories will get noticed more than an ad on their feed. Stories run on full-screen, allowing brands to capture the audience completely.
- ADS ON STORIES WITH CALL-TO-ACTION
Ads on stories come with the option to swipe up that direct you to another website. But it is often easy to miss it, which is why if you put the call-to-action on your story ad, chances are 89% more the users will swipe up. The emphasis on any action grabs attention and this increases chances of audience generation and increases website traffic.
- AD REVENUE EARNED BY INSTAGRAM
According to Statista, Instagram is expected to earn close to $18.16 billion in ad revenue this year. You can see what a huge market there is to grab the attention of Instagram users in the age of social media marketing. Due to the high usage of Instagram, businesses are willing to invest more money in ads as it will drive engagement to their profile.
- COMPLETION RATE OF BRAND STORIES
Brand stories have a completion rate as high as 86%. This is because a lot of people would rather watch out for any offer or launch than miss out on it. Brands should have the ability to successfully capture their audience so that they keep coming back for more. With a higher completion rate, there is more of a conversion rate of users to customers.
- NUMBER OF ADVERTISEMENTS USED BY BUSINESSES
Almost 4 million businesses use Instagram ads monthly. This is a huge number that should get you thinking about how soon you can be one among them. If so many businesses have already put faith in the platform, they must be doing something right. So don’t miss out on this chance!
Could anyone have ever imagined that a photo-sharing app could play such a huge role in marketing businesses worldwide? Instagram can be seen rising in popularity with the younger generation due to its easy interface and multiple features. Both the affluent and the commoners are using Instagram in a bid to remain connected with the world and to be able to market themselves better.
Instagram has a bright future in social media marketing as people have been flocking towards it for a long time. It offers people an easy way to interact with their audience and give updates about their business that can’t be said for other platforms. These statistics should make you think about what you want in the future for your business. So now that you have some knowledge about the latest statistics, incorporate them in the best possible way to make your business a grand success.