Businesses are now having to incorporate an Instagram marketing strategy alongside other social media networks as a large segment of Instagram users are a potential buyer of the businesses product or service.
Instagram History
Instagram is a social media networking service allowing users to share photos and videos. The app was created in October 2010 by Kevin Systrom and Mike Krieger.
Mark Zuckerberg the CEO of Facebook saw the potential of Instagram and in April 2012 bought the company for $1 billion, with a user base of 30 million. The young start up company had 13 employees at the time with zero revenue coming in.
As of June 2018 Instagram has hit 1 billion users and is expected to amount $6 billion worth of advertising revenue in 2018, with some analysts predicting this number to increase to $20 billion by 2020.
Despite Facebooks recent setbacks regarding the public’s confidence in their privacy policy, data breaches, and fluctuating stock prices, advertisers haven’t shyed away from the platforms powerful influence it has on consumers.
There is an arms race between Facebook, Instagram and Snapchat as to how many minutes per day a user is spending on these social apps. In June 2018 new data from the online measurement company SimilarWeb was released.
“Instagram users in the U.S. spent nearly as much time in the Android app as Facebook users spent on their app.
On average, Instagram users spent 53 minutes per day with the Android app in June — just five minutes less than Facebook users spent with their app. Snapchat users spent 49.5 minutes in the Snap app, on average.”
Why a Business Should use Instagram Advertising
Instagram is currently the platform where specific businesses need to be found on when looking at paid search across the different social media platforms in regards to brand awareness, followers, engagement, driving business sales and generating leads. Instagram advertising has the potential to get your business ahead of your competitors.
“Instagramers look to be inspired, be creative, explore photos, videos and watch IGTV which includes content from brands and businesses on the social media network.
Instagram Audience
- 25 million+ Instagram business profiles worldwide
- 2 million+ Advertisers worldwide use Instagram to share their stories and drive business results
- 60% of people with Instagram accounts they have found new products on Instagram
- 200 million+ Instagram users view on average one business everyday
- There was an 80% increase by users watching video content according to Instagram Internal statistics dated June 2017.
- One in three of the most viewed stories on Instagram are from business accounts.
Interested in advertising your business on Instagram?
Our digital marketing team have a wealth of experience helping businesses with social media advertising in research, planning, creating original campaigns that deliver results for your business.
