Your Instagram analytics provides account-specific performance insights, which then inform your strategy. But looking at your brand’s performance alone isn’t enough to get ahead of the competition. You need to keep a close eye on Instagram stats to stay on top of trends shaping the platform’s marketing landscape. This will then give you the insights you need to anticipate changes and fine-tune your strategy.
According to the Sprout Social Index, Instagram is among the “big three” social media platforms. With 49% of consumers and 59% of marketers planning to use it in the next 12 months, you can’t afford to not pay attention to the platform’s key statistics.
So let’s find out some of the vital Instagram statistics that will shape your strategy in 2023.
Table of contents
- Instagram stats to pay attention to moving into 2023
- Instagram user statistics
- Instagram usage statistics
- Instagram audience and demographics statistics
- Instagram advertising and marketing statistics
- Instagram Stories and Reels statistics
- Instagram for Business stats
Instagram stats to pay attention in 2023
- Instagram currently boasts 2 billion monthly active users. This makes it the fourth most used social media platform. And if you make use of the latest Instagram trends, you have the potential to exponentially grow your reach.
- It’s now the fifth most visited website worldwide. Although this puts it behind other platforms like Facebook and Twitter, it’s still one of the most popular social media sites.
- According to Insider Intelligence, Instagram generated $43.2 billion in ad revenue in 2022. This is a slight increase from 2021 when the platform’s ad revenue amounted to $42.1 billion.
Instagram user statistics
Understanding how people perceive and use the platform will help you devise best practices for Instagram to connect with them. These Instagram user statistics can give you a better look:
1. Almost every Instagram user uses it alongside other platforms
According to data from We Are Social, only 0.1% of Instagram users are unique to the platform. A large number of users use it alongside other social media platforms such as Facebook (82.9%), YouTube (75.5%) and TikTok (52.2%). That means having a solid cross-platform marketing strategy is crucial for your brand to succeed.
2. Only 25% of American users feel that Instagram protects their data and privacy
A study by Insider Intelligence found that trust in social media platforms dropped significantly in 2022. When it comes to Instagram, only 25% of American users feel that the platform protects their data and privacy. This makes it one of the lesser trusted social media platforms. But it’s still ahead of Facebook, Twitter and TikTok.
3. Posting/sharing photos and videos is the top activity
According to DataReportal, 69.7% of users use Instagram to post or share photos and videos. This makes it the top activity on the platform, indicating the desire for users to be creative and express themselves.
4. It’s the second most preferred platform for customer service
As more and more people turn to social media for customer support, Instagram is a popular channel choice. The 2022 Sprout Social Index reports that 35% of U.S. consumers use Instagram for customer service. This makes it the second most popular platform for customer service after Facebook.
Reviewing your brand’s customer service strategy on the platform could help you get ahead of the race and enhance the user experience.
Instagram usage statistics
How popular is Instagram in terms of usage? Let’s take a look at these Instagram usage statistics to find out:
5. There are 2 billion monthly active users on Instagram
Latest reports show that Instagram has 2 billion monthly active users. While not at the Facebook level, this is still huge for brands. It means there are billions of people you could potentially reach. With the right strategies to get more Instagram followers, these users could turn into loyal fans of your brand.
6. U.S adults spend 30 minutes per day on the platform
Over the past couple of years, video-based platforms like YouTube and TikTok have become a huge hit among social media users. At the same time, people are still spending a significant amount of time on Instagram. American adults spend about 30.1 minutes a day using the platform.
Instagram audience and demographics statistics
Looking at social media demographics helps you gauge which platforms your target audience is using. Let’s look at these Instagram demographic statistics to get a better idea:
7. Instagram is most popular among younger audiences
The platform sees the highest usage among people aged between 18 and 34. People within these age groups make up over 60% of Instagram’s user base. As such, the platform is ideal if your target audience consists of young adults and Millennials.
8. There are more male than female users
Instagram limits its gender-based reporting to male and female. And based on this data, there are more male users (51.8%) than female users (48.2%). However, the difference isn’t too drastic, meaning the platform isn’t inherently better for reaching a male audience.
9. India and the United States have the greatest number of users
Much like other platforms, India leads the way even when it comes to Instagram. The country has 229.5 million Instagram users. The United States comes next with 149.35 million users.
Instagram advertising and marketing statistics
Are you getting the most out of your Instagram advertising efforts? Is it even worth it to market your brand on Instagram? Here are a few Instagram stats to give you the answers you need.
10. Seeing an ad on Instagram gets people interested in a brand
According to internal Instagram data, 50% of users become more interested in a brand after they see an ad for it on Instagram. This speaks volumes about the power that advertising on Instagram has for your brand.
11. Feed ads have a higher click-through rate (CTR) than Stories ads
Brafton reports that the CTR for feed ads on Instagram range between 0.22% and 0.88%. Meanwhile, Stories ads have a CTR between 0.33% and 0.54%. These numbers suggest that in-feed ads have a higher potential to drive clicks than Stories ads. However, consider experimenting with different ad placements to see which one works best with your audience.
12. Instagram has the highest cost per click (CPC)
Instagram may have a competitive advantage over other social platforms when it comes to engagement. But that comes with a higher cost, especially when it comes to advertising. The average CPC for Instagram ads is a whopping $3.56 while platforms like Facebook, Twitter and Pinterest manage to keep it under $2.
13. Conversion rates range between 0.30% and 2.6% depending on reach
Brands with a higher reach on Instagram tend to see a higher conversion rate. Interestingly, the study found that reach rate is higher for brands with a smaller following size.
In fact, brands with fewer than 10,000 followers saw the highest conversion rate (2.6%). Meanwhile, some of the top-performing brands had an average conversion rate of 1%.
Instagram Stories and Reels statistics
Instagram offers a wide range of content types to choose from, with Stories and Reels being popular options. Check out these Stories and Reels statistics to see how these formats are performing:
14. Story reach rate is on the decline
According to a Rival IQ study, Instagram story reach rate declined between 2021 and 2022. This decline is consistent across all following sizes. However, smaller brands with fewer than 10,000 followers saw the least decline. Their Story reach rate dropped from 5.4% in 2021 to 4.8% in 2022.
Meanwhile, mid-size brands having 50,000-200,000 followers felt the biggest impact as their reach rate dropped to 1.6% from 2.4%.
15. Story retention rate declines as the number of frames increases
The same Rival IQ study found that the number of frames you post to your Instagram Stories determines how well you retain your audience. Story retention rate starts to dip below 75% after the sixth frame.
16. Short narrative-type Stories are the most popular format
When it comes to the types of Stories that people want to see, short narratives were the most popular. Thirty-five percent of consumers prefer these types of Stories with a mix of photos, videos and text. Stories with quizzes and polls were another popular option.
So if you’re running out of Instagram Story ideas, use these stats to brainstorm new ideas that engage your audience.
17. Reels have the highest reach rate
Unsurprisingly, Reels see the highest reach rate among all media types on Instagram. The Rival IQ study revealed that Reels boast a 14% reach rate while other media types see a reach rate between 9% and 10%.
In another study from Socialinsider, the average reach rate for Instagram Reels stood at 20.59%. This puts it far above other media types such as carousels, images and videos. In line with the Bazaarvoice report from earlier, accounts with the smallest following size saw the highest reach rates.
18. Instagram Reels boast an average engagement rate of 1.95%
In addition to an exceptional reach rate, Reels also see significant engagement. Based on the Socialinsider study, Instagram Reels have an average engagement rate of 1.95%. This puts it well ahead of other media types. So your brand could benefit from creating more Reels to attract and engage your target audience.
Instagram for business stats
So far, the benefits of Instagram for marketing your business are clear. Let’s further dive into these Instagram for business stats to really understand its value:
19. 70% of shoppers look to Instagram for their next purchase
Internal Instagram data reveals that 70% of shoppers look to the platform for their next purchase. Meaning this is where people go to find purchase inspiration and discover new products.
20. Following and researching brands is the second most popular activity
The DataReportal study from earlier found that many users follow and research brands and products on Instagram. It’s the second most popular activity on the platform with 62.3% of users engaging in it. So there’s a good opportunity to attract followers who want to hear what your brand has to say.
21. 90% of users follow a business
To further drive home the above point, 90% of users on the platform follow a business. This indicates that people aren’t hesitating to keep up with brands on Instagram.
Making the most of these Instagram stats
Based on these vital Instagram statistics, you can see where the platform currently stands and how people are using it. It’s clear that there’s no dearth of users who use the platform to follow and engage with brands. Plus, many consumers are also using Instagram to inspire their purchases and inform their buying decisions.
In short, there’s huge potential to tap into with the right strategy. Need help with this? Check out our guide on developing a powerful Instagram marketing strategy.
The post Instagram statistics you need to know for 2023 appeared first on Sprout Social.
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