Instagram now ranks second to Facebook being the largest social media network in the world. Recent reports showed that it surpassed the 2 billion monthly active users’ mark. According to a social media agency Hong Kong, it is not only the growing popularity of Instagram that puts it into good light. Rather, it continues to be a gold mine based on business perspectives.
To a digital marketing speaker Hong Kong, Instagram introduces an exciting range of advertising channels. These include IGTV, non-intrusive ads placement, and swipe-up features. A recent survey conducted by a video marketing agency Hong Kong recorded that Instagram is the platform of focus for marketers this year. Let us find out how it came to be.
How Instagram Begins
The story of Instagram is said to be a fairy tale in Silicon Valley. It started when Kevin Systrom had a Mexico vacation with his girlfriend. He realized that their photos did not look good enough despite using an iPhone 4 camera. For him, the solution is adding filters, and that is how he developed the X-Pro II filter used on Instagram.
In 2010, Kevin co-founded Instagram with Mike Krieger. The first photo was posted by Mike at 5:26 PM on the 16th of July 2010. It was an image of the South Beach Harbor at Pier 38. Later that day, Kevin posted a picture of a dog and his girlfriend’s foot.
Instagram was officially launched on 06 October 2010. All at once, it racked up 25,000 users that day. After a week, it has been downloaded 100,000 times. During mid-December of the same year, it reached a 1 million user mark. By March 2012, it already acquired 27 million users. That is the time Facebook bought Instagram for $1 billion cash and stock.
Instagram Marketing Statistics
The last confirmed monthly active users of Instagram was 1.074 billion as of 21 June 2021. But recently, Instagram employees have reported that the platform reached the 2 billion mark. People residing in the USA, India, and Brazil constitute a large percentage of Instagram users.
Around 63% of Instagram users logged into the app every day. They normally stay on the app for an average of 28 minutes daily. During such times, 200 million Instagrammers visit at least 1 business profile. More than 130 million users tap into a shopping post and make a purchase. These are some major reasons why marketers take advantage of promoting products and services on Instagram.
Instagram as a Platform of Focus for Marketers
From the very beginning, the primary focus of Instagram was photo sharing. It focused mainly on photos shared via mobile devices. Last July 2021, Instagram Chief Adam Mosseri announced a major shift in the platform. It is no longer just a photo-sharing app. Rather, it will then be a photo- and video-sharing app.
Since then, Instagram became a greater magnet for advertising and marketing. Instagram ads can potentially reach 849.3 million people. Around 83% of modern consumers go to Instagram to discover new products. Most notably, 87% claimed that Instagram ads influence them to follow a brand, make a purchase, or visit the brand’s website.
Another reason why Instagram is the platform of focus for marketers is influencer marketing. It has been an effective network for influencer communities. In fact, 91% of luxury brands, 84% of sports brands, and 83% of beauty brands use influencers on their Instagram ads. With 500 million people tapping into the power of Instagram Stories, influencer marketing has never been exciting without Instagram.
The major shift for Instagram as a platform for marketers this year is live shopping. After the platform launched a 10-day live shopping last August 2021, it became an instant favorite among brands. During the holidays, pop-up live shopping is a constant. It is expected to continue as a trend this 2022!