Instagram reports more than 1 million monthly advertisers with, according to the company, most being small businesses. According to a recent article on Forbes.com, Instagram’s focus on DIY advertising tools for small businesses has paid off. Instagram also reported that the number of marketers on Instagram has risen steadily alongside the number of business profiles on the app to the tune of 8 million business profiles — up about five times since September. In our Local Commerce Monitor™ (LCM) study of small businesses, Instagram has grown in popularity in the past three years as overall social media usage among small businesses increases.
Instagram Use By SMBs
Source: BIA/Kelsey Local Commerce Monitor™ (LCM) Wave 20, Q3/2016 (and prior waves, if relevant). Methodology: Online panels.
According to Instagram, more than 80% of Instagram users follow a business on the app, and in the past month, more than 120 million users have used business profiles to visit a website, get directions or contact a firm. While Instagram is set up for self serve advertising for small businesses, there’s an opportunity for companies who offer managed services to help their small business clients communicate with customers on Instagram.
