Instagram has become one of the most popular social media platforms, with over 1 billion active users worldwide. With this large audience, it's no wonder that businesses have started to leverage Instagram advertising to reach their target audience. In this article, we will explore the performance of Instagram advertising and present the most important statistics to help businesses make informed decisions.
Instagram Advertising Stats: Market & Trends
Instagram's ad revenue was projected to reach $18.16 billion in 2021. (Source: Statista)
Over 2 million monthly active advertisers use Instagram to promote their brand. (Source: Hootsuite)
Instagram's advertising audience is heavily skewed towards younger demographics, with 71% of users under the age of 35. (Source: Hootsuite)
The global Instagram influencer market size is expected to reach $13.8 billion in 2021. (Source: Business Insider)
Instagram Stories have over 500 million daily active users. (Source: Instagram)
70% of shopping enthusiasts turn to Instagram for product discovery. (Source: Facebook Business)
In a survey, 83% of Instagram users said they discovered new products or services on the platform. (Source: Facebook Business)
80% of Instagram users follow at least one business account. (Source: Instagram)
Instagram users spend an average of 30 minutes per day on the platform. (Source: Hootsuite)
In a survey, 87% of respondents said they took an action after seeing product information on Instagram. (Source: Facebook Business)
Instagram Ads: Performance & ROI
Instagram has the highest engagement rate of any social media platform, with an average engagement rate of 1.6%. (Source: Rival IQ)
58% of people have visited a brand's website after seeing their ad on Instagram. (Source: Hootsuite)
Instagram ads are more likely to be remembered than ads on other social media platforms, with a 32% recall rate. (Source: Hootsuite)
The average cost per click for Instagram ads is $0.50 - $2.00. (Source: Hootsuite)
Instagram video ads have a higher engagement rate than photo ads, with a 2.2% engagement rate compared to 0.7% for photo ads. (Source: Hootsuite)
Instagram carousel ads have a 10 times higher click-through rate than non-carousel ads. (Source: Hootsuite)
Instagram ads using location tags have a 79% higher engagement rate. (Source: Hootsuite)
72% of Instagram users have made a purchase decision based on something they saw on the platform. (Source: Facebook Business)
Instagram Ads Statistics: Summary
Instagram advertising is a powerful tool for businesses looking to reach their target audience. With a highly engaged user base, younger demographics, and a variety of ad formats, businesses can effectively promote their brand and drive traffic to their website. Instagram's influencer market, high recall rate, and product discovery features make it a valuable platform for businesses to invest in.
For more Instagram Advertising benchmarks, statistics and insights please visit our dedicated Social Media section.
Comments