13 December 2017
Instagram has announced there are now over 25 million businesses on the platform. These figures are related to the number of business accounts which get a few extra features like analytics as compared to standard individual accounts. This is an impressive growth considering that it introduced business accounts just last year and numbers were 15 million in July this year.
The team says that a vast majority of these accounts belong to small businesses which means even they are seeing Instagram as a reliable platform for the growth of their businesses. The insights further reveal that over 200 million users check out a business profile every day and every 2 out of 3 visits are from users who do not follow that particular business account. This data suggests that businesses have a good chance of reaching out to new users which is a great opportunity considering that Instagram has over 800 million monthly active users.
Another interesting bit of data shared by Instagram is that 1 in 3 small businesses say that they built their business on the platform. And about 45% of small businesses have seen an increment in their sales due to Instagram. All these numbers are indicating in the positive direction for the Instagram business offering. Such data can allow it to attract more businesses to set up their accounts on the platform as well as advertisers which can help increase the revenue.
In other news, Instagram recently revealed trends on the platform for the year 2017. It shared insights related to things like most followed accounts, most liked posts, most used hashtags, and most Instagrammed locations among other things.