Social media is the name of the game today. If you want your business to be successful in the changing digital market, social media surely needs to be a part of your marketing and growth strategy.
Over the years, a number of social media platforms have entered the market. While some dissolved in a few months, there were others that rose exponentially. Their rise gave businesses another opportunity and platform to reach out to their target market with their value propositions.
One such platform that each of us marketers are aware of by now, is Instagram.
Instagram is the new star in the social media landscape. The image dominant social media network rose higher than most others and smart marketers were quick to pick up on the drift. They incorporated Instagram into their inbound marketing (another trending marketing tactic) strategies and reaped the benefits of acquiring their target market faster than most of their competition.
If you fall under the category of those who are still procrastinating over using the channel or skeptical about it altogether, here are some Instagram statistics you need to consume right away.
1. Monthly active users – 500 million
Taking into account the way the growth of Instagram’s monthly active users has been up until June 2016, it is safe to assume that the number is only going higher from here. This means that most of your target market is probably joining the platform and using it on a regular basis, giving you the opportunity to put forward your value proposition.
2. Daily Instagram users – 59%
According to PEW Research centre, there are 59% of users that use Instagram on a daily basis. Be it to share their personal moments or discover new content. This gives marketers the opportunity to get their business content discovered at the right time, by the right set of people.
3. Instagram user demographics
In case you were wondering the demographics of Instagram users, here’s a simple answer – almost everyone is on this social media platform. 28% of the world’s internet users are already on the platform. So if you thought your business wasn’t going to find its target market on Instagram, you have been proven wrong.
But one thing’s for sure, the percentage of US teenagers using and loving Instagram is rising by the day.
4. Industry wise growth rate
Of course there are specific business industries that are doing exceedingly well on Instagram. A lot many businesses from the B2C sector have been able to grow their following without having to invest in paid advertisements. While B2B remains slower, there are a lot many businesses who are finding creative ways to reach out to their market via visuals and have been successful so far. A living example of this would be that of HubSpot!
5. Instagram advertisement revenue to go higher than Google and Facebook
With the rising market opportunities that the platform has to offer for businesses, its revenue from advertisements is on its path to go higher than Google and Facebook – the digital giants. In case you haven’t already noticed, marketers have started advertising in the Instagram feeds of users and there have been tweaks in the advertising features that the social channel has to offer to boost the ad effectiveness.
6. 49% of businesses/ brands are on Instagram
According to studies conducted by eMarketer, about 48.8% brands or businesses are already on Instagram. It is estimated that the number will go up to 70% or more in 2017. This means that the competition to grab your target audience’s attention on this platform is rising exponentially. Not establishing yourself on Instagram now, is like losing half your market to the competition.
7. 90% of top 100 brands are on Instagram
Continuing on the point above, about 90% of the top 100 brands across the world are using Instagram to effectively market their products and services. This only goes to say that the social media channel has been an integral part of their marketing strategies.
8. Higher engagement rates
The user engagement rates for brands has been 10 times higher than what they received on Facebook, 54 times higher than that of Pinterest and a whooping 84% times higher than Twitter. This clearly states that Instagram is beating even the social media giants when it comes to engaging the consumer market.
The average engagement received by posts on Instagram have grown by 416% compared to what it was in the previous years.
9. 70% popular hashtags are branded
The most commonly and popularly used hashtags in posts are branded and were introduced by businesses to increase their discovery and boost brand awareness. So if you haven’t been thinking about creating a unique hashtag for your business, now would be a good time to start!
10. Over 80 million photos are uploaded every day
The daily and monthly active users aren’t just simply browsing through the platform. They’re actively sharing images and videos – which might or might not relate to your business. But this gives marketers the opportunity to delve into using user generated content for their business growth.
But despite Instagram statistics proving time and again the effectiveness of the channel for business marketing, there are only 31% of the B2C industries using it. And most of B2B is yet to catch up!
Keeping all the above numbers and Instagram’s growth ahead in mind, we think it is the one social media platform that your business needs to leverage from, starting today. Be it the B2B or B2C industries, the scope of marketing on Instagram is so far unmatched by the others!
Do you think Instagram should become a part of marketing strategies for all types of businesses?