Instagram for Business: How Many Businesses Are There On Instagram?
DataProt is supported by its audience. When you buy through links on our site, we may earn a commission. This, however, does not influence the evaluations in our reviews. Learn More.
Instagram is an essential marketing tool for businesses. With its 2 billion monthly active users(1), Instagram’s popularity makes it an excellent social media platform for brand awareness and user engagement.
Advertisers can reach 1.628 billion users(2) using the Instagram algorithm, which is why 38% of marketers use Instagram to promote businesses. Instagram is also the perfect platform for expanding businesses’ presence and visibility.
In this article, discover the different Instagram statistics, such as business account statistics, account usage, and the latest trends in the Instagram business account.
Editor’s Choice
- The average Instagram business account grows its followers by 0.98% monthly.
- Business accounts post 1.71 daily feed posts.
- 83% of users who discovered a brand through Instagram ads become more interested in the brand.
- 9 out of 10 users follow a business account on Instagram.
- 98% of Fashion brands use Instagram.
- An average Instagram post contains 10.7 hashtags.
- Captions with 1-20 characters or over 2000 get more than 6% engagement.
- 7 out of 10 users skip Instagram stories from accounts that post more than 5 stories daily.
How Many Instagram Business Statistics Are There?
With 1.39 billion Instagram users(3) spending an average of 11.7 hours per month on the app, Instagram has become a popular platform for following and researching brands and products, with 62.3% of users(4) utilizing it for this purpose.
Instagram is more than a branding tool for businesses – it also gives business owners an advantage with its feature, Instagram Analytics. This feature offers a comprehensive breakdown of the metrics they should consider to create effective marketing strategies.
These Instagram business statistics could provide insightful information they can use to grow their businesses.
Instagram Business Account Statistics
There are currently 200 million business profiles(5) on Instagram; businesses now recognize the importance of having a presence on Instagram, as understanding business account statistics is essential.
Instagram’s business and professional features provide insights into a data-driven marketing strategy that can aid businesses in creating compelling content for their target audience.
Look at the following business account statistics businesses use to determine if their content is performing well and reaching the right audience.
1. The average Instagram business account grows its followers by 0.98% monthly.
(Hootsuite, Caleydimmock)
Instagram business accounts grow when they regularly post, engage with their followers, and advertise on the platform. When their content reaches the right audience, they capture their interest and convert them into followers, contributing to the Instagram account’s growth.
Having followers increases the credibility of the business and its social proof. However, as the number of followers increases, engagement rates decrease significantly. Therefore, companies must focus on their brand’s consistency rather than follower rates.
2. Business accounts post 1.71 daily feed posts.
(Hootsuite)
The best time to post on Instagram is between 11 am to 11 pm, depending on the business and the algorithm. Posting frequency impacts engagement rates and follower growth. Too much posting causes follower fatigue, which lowers the engagement rate. On the other hand, infrequent posting can cause followers to lose interest, leading to slower growth.
3. On average, the engagement rate of business account posts is 0.54%.
(Hootsuite, Fit the Right)
Instagram engagement rate is a key metric for business accounts. This includes the numbers of likes, comments, shares, shares and saves on posts.
This formula calculates the engagement rate by post:
- ER (%) = (Total engagements on a post / Total followers) * 100%
Instagram’s engagement rate indicates that more people interact with content rather than scrolling. Strong engagement means audiences feel strongly connected with the brand and are more likely to purchase.
4. The average post contains 10.7 hashtags.
(Oberlo)
Hashtags for Instagram business accounts are essential, as they help improve the visibility of posts and reach a larger audience.
Properly using hashtags is actual actually simple; you can use as many relevant words as you can. However, excessive use of irrelevant hashtags can make a post appear spammy and inauthentic.
Instagram Business Account Usage
Every day, 200 million users(6) visit at least one business profile. Businesses must capitalize on this opportunity to post content that can increase engagement and attract more visitors.
Since the platform is highly visual and popular, Instagram is ideal for businesses to showcase their products and services. Proper and effective usage of Instagram Business accounts helps create a strong brand identity, earn loyal followers, and connect with the audience more personally.
Here are more account usage statistics for businesses on Instagram.
5. 83% of users who discovered a brand through Instagram ads became more interested in the brand.
(Sprout Social, Neal Schaffer)
Instagram is a powerful tool for brand discovery, with 81% of users using the app to research products and services. Alternatively, 83% of users found a brand through Instagram ads. These statistics show that Instagram is an effective platform for businesses to reach customers and generate interest in their brands.
6. 25% of Instagram users think the platform protects their privacy and data.
(Hootsuite)
Instagram provides parental controls and tools to report inappropriate content, fake accounts, and more. Still, only 25% of Instagram users think the platform protects their privacy and data.
Like other social media platforms, Instagram takes the utmost precaution regarding its users’ safety and security. Despite this, Instagram users are still concerned about advertisers and businesses accessing the data they share on the platform.
| Note: Data and privacy worries while using the platform are valid concerns. Our guide on what information Instagram collects about you can help set your mind at ease as it includes practical advice on keeping your data and privacy secure. |
7. 9 out of 10 users follow a business account on Instagram.
(Instagram, Social Sprout)
Many Instagram users follow business accounts to get updates, exclusive promotions, and the ability to show their support for their favorite brands. Businesses can use this opportunity to create a brand account while simultaneously offering consumers and users more hands-on customer engagement.
8. 98% of fashion brands use Instagram to advertise new products.
(Social Pilot)
Due to Instagram’s visual nature, fashion brands use it to showcase their products and connect with customers. They can share photos and videos to show their brand’s personality.
Brands can then encourage followers to create content featuring their products and share it on social media using a specific hashtag or tagging the brand. They then promote their brand by reposting or featuring the user-generated content on their social media or website.
This strategy uses UGC to encourage engagement with followers while generating authentic and creative content.
Instagram Business Account Trends
The latest trend on Instagram for 2023 is influencer collaboration. Around 91% of luxury brands(7) and firms spend on influencer marketing as part of their Instagram advertisement strategy.
Businesses identify new growth opportunities and engage with their audience using recent trends to remain competitive on the platform.
Here are the latest trends that Instagram businesses should follow on the platform.
9. In 2023, 35% of Instagram users will purchase on the platform.
(Market Splash)
When discovering a product or service through Instagram, 87% of users take action, whether visiting the brand’s website or making a purchase. Of those users, 35% complete their purchase through shoppable posts or Instagram checkout.
This shows that Instagram is an effective platform for increasing business sales. With high-quality content and an effective marketing strategy, businesses can convert Instagram followers into customers.
10. Captions with less than 20 characters get more than 6% engagement.
(Mention Solutions)
In making a caption, one should consider how long or short it is. Captions boost engagement. Just make sure it is the correct length.
Short captions perform well, increasing engagement, but this is only applicable sometimes. Even longer captions get a boost. When putting up captions, the most important thing to consider is their authenticity and how they resonate with the audience’s heart.
11. 7 out of 10 users skip Instagram stories from accounts that post more than 5 stories daily.
(Social Insider)
Instagram Stories’ storytelling element is one reason they’re successful among users worldwide. Brands use behind-the-scenes moments and Q&A sessions to help customers get to know them better.
The platform’s innovative features make the interaction between the brand and customers fun and exciting. However, posting too many stories can drive away your audience. Businesses should limit posting to less than 5 Stories daily to avoid Story skips.
Conclusion
Instagram has emerged as a critical business channel, providing marketing and raising brand awareness in a highly visual setting. Businesses on the platform can improve their general engagement by showcasing goods and services, boosting brand recognition, and making money.
Companies have used various Instagram statistics to develop customized content for their target audience, making the app an effective tool for reaching the right audience. Instagram is best for companies trying to build a solid online page with their target market.
