Why market on Instagram in 2019 – 10 must read stats
We’ve been discussing Instagram a lot lately at Moondust. In fact, in response to high demand from our clients, our knowledge centre is filling up fast. But what if you haven’t ventured onto Instagram yet? Many CEOs are still asking “Why market on Instagram?” So, if you’re working for a brand that’s MIA from the platform, here’s the article for you. Why market on Instagram – 10 must read stats your bosses need to see now.
#1 Over 1 billion people use Instagram every month
Let’s say it another way, 1/8 of the 7.7 billion peopleon the planet use Instagram! (and counting). At a time when Facebook is turning off users, marketers are switching their allegiance (and marketing dollars) over to the platform. Many experts are now predicting, that Instagram will overtake Facebook in user statistics by the end of 2020.
#2 Insta boasts the highest social media engagement
Of course, it’s not enough to say that Instagram is trendy. As marketers we want to know how it performs as a platform. And again, Instagram does not disappoint. The platform has some of the most engaged users in the social media space. On an average day, users share over 95 million photos and videos yielding over 4.2 billion likesin a single day! The engagement rate on Instagram beats Facebook’s too with a 3%+ interaction rate compared to Facebook’s 0.22%. Instagram is the engagement king.
Still not convinced on Instagram Vs Facebook user engagement? Mercedes Benz InstagramAccount had 18.9 Million followers, and this post below got 138,592 LIKES.
Meanwhile, its Facebook page which has over 20 million fans, got 1.6k likes.
The photo is the same, the fan count is almost identical and yet the engagement rate is phenomenally different.
#3 65% of Instagram users are aged 18-34
Instagram is no longer a playground for kids without spending power. Instagram is a marketer’s dream with most users being in the 18-34 age bracket. Additionally, the gender split between women and men is virtually even. This makes it an ideal place for most B2C and indeed B2B companies to have a presence. Remember, that social media users grow up too. The “youngsters” who first adopted Facebook are now in their late 30s. Likewise, the teen driven Instagram platform is all grown up.
#4 Insta users have money to spend
As marketers the end game is usually to get users to spend money. Whether it’s via a long or short content marketing funnel, the end goal is the same. According to a survey by We are Flint,Instagram users span all income brackets but here’s a stat that should jump out at you. 60% of adults earning 100K+ per year use Instagram.
So, you see, it’s no surprise that high end or luxury brands have a place on the network. And here’s an additional sweetener. Instagram has just added a checkout option for pagesmaking it even easier to make a sale!
Over 20 brands will be using checkout to begin with, and these include MAC Cosmetics, Nike, Adidas, Dior, H&M, Oscar de la Renta, Prada, Michael Kors and Zara.
#5 Stories are used by 500 million+ users every day
Up from 400 million in June 2018 there are now 500 million storiesevery single day. Stories absolutely work for brands in both the B2B and the B2C Instagram space and the stats back it up with the average engagement for stories being a whopping 7%!
Bon Appetit is known for its delicious recipes and restaurant reviews, but they also rock stories. The brand uses Instagram Stories to feature food tours, recipes, tutorials and interviews. They maintain the editorial quality of their magazine throughout and post daily stories to keep their audience on their toes. Their stories gain phenomenal engagement and contribute to their 2.7 million fan base success.
#6 Over 60% of Instagram users search for new products on Instagram
The truth is that search is evolving. Of course, content marketing for the main search engines remains essential. As marketers we know that we need to be appearing on page one of the SERPS (search engine results pages) to be counted and remain relevant. However, social media search is evolving. Today, more users than ever will search for brands or products inside their social networks. There are 16,600,000 Google searches for "Instagram" per month and within the platform 60% of users seek out new products using Instagram search.
The Instagram algorithm for search suggestions will use whatever similarities it found to suggest brands and products. Instagram also considers user hashtags, types of content and location to make recommendations. Do you really want your brand to be missing from such a powerful search engine? No, we thought not.
#7 Over 70% of US businesses use Instagram
That’s right, over 70% of US businesses are using Insta and there are 25 million business profiles on the site. Things are getting competitive, with the leading B2B and B2C brands battling it out for user loyalty, engagement and ultimately ROI. Got something to sell? Instagram has people for you to target. The top businesses on Instagram (by likes and engagement) are:
@shakeshack 596k followers
@oreo 2.5m followers
@starbucks 17.4m followers
@benandjerrys 835k followers
And after all that delicious food and drink, we could all use some exercise in the form of Insta superstars @nike with 85.9 million followers.
#8 Instagram delivers for advertisers
Instagram is one of the of the most visually appealing forms of digital advertising. We know that users are attracted to photos and video more than any other form of marketing. This is the main reason the platform delivers for advertisers. In 2018, Adstage analyzed over 390 million ad impressionsand 5 million clicks on Instagram to uncover the average CPM, CPC, and CTR on Instagram. The results they uncovered should interest advertisers:
· The average CPM on Instagram decreased by 5.8%
· The average CPC decreased by 33.6%
· The average CTR increased by 41%
In other words, the cost of acquiring clients went down but the click through rate on the platform went up.
#9 Instagram has the latest marketing features
We mentioned earlier that Insta has just rolled out a brand-new checkout feature. But that’s not all. Instagram is continually trialling new ways for marketers to reach their target audience. Last year, Instagram expanded its shoppable organic posts for businesses internationally. The platform also tested books and ads that blend videos and product catalogues. "Instagram is a business's visual shop on mobile,"said Sheryl Sandberg, Facebook's chief operating officer. Last month we saw an announcement that Facebook may eventually merge WhatsApp, Messenger, and Instagram direct messaging platforms into one integrated system. We anticipate many exciting developments ahead for Instagram.
#10 Instagram will become desktop friendly
One of the biggest annoyances regarding Instagram is that it is a difficult platform to manage as an agency or large brand thanks to its mobile nature. Your clients or team must send you photos, you save them to your smartphone then upload them to the platform. How tedious. This, in comparison with other platforms that sit nicely on your desktop can make Instagram bottom of the favourites list. But good news is coming. Whilst the platform will remain a mobile site, it will also become desktop friendly!Instagram has been slowly shifting to a desktop-friendly experience over the past year so very soon brands will be able to upload images straight from their server, dropbox or cloud.
Loved these stats? Share them with your colleagues and social media followers. We believe that Instagram is a must have in your marketing toolbox. As a marketing agency specialising in content marketing and social media, we are ready to help you market on Instagram. Speak to the Moondust team today.