40 Instagram Statistics For Business You Must Know in 2024

Instagram has a huge user base, making it a gold mine for businesses. With over a billion active users, it offers vast potential for brand visibility and engagement.

But just how impactful is Instagram for businesses? and how many businesses are there on Instagram, you might ask?

With that in mind, we’ll cover important Instagram statistics for businesses that show why Instagram is a game-changer for businesses.

Instagram Statistics For Business (Infographic)

Instagram Statistics For Business: Key Numbers

There are over 200 million businesses on Instagram .
71% of U.S. businesses use Instagram.
90% of Instagram users follow a business.
Approximately 25 million businesses use Instagram in the US.
Over 200 million Instagram users visit at least one business profile every day.
97.6% of U.S. marketers use Instagram.
36% of businesses use stories to promote their products.
4 million businesses use Instagram Stories ads every month.
81% of people use Instagram to research products and services.
Instagram business accounts have an average monthly follower growth rate of 1.46%.

Which Social Media Platforms Do Marketers Use in 2021

Sources: (Instagram Business, eMarketer, GWI Report, Adobe, Facebook, Thryv)

How many businesses are there on Instagram?

There are about 200 million businesses on Instagram globally. Instagram has turned into a go-to place for businesses to connect with people, show off their products, and grow their brand.

With features like shoppable posts, ads, and analytics, it’s a top choice for companies of all sizes. Plus, over 90% of Instagram users follow at least one business, making it a key platform for marketing and engagement.

How Many Businesses are on Instagram in 2022

Impact of Instagram on Business Statistics

Instagram has completely changed the game for businesses, creating huge engagement and boosting sales. Curious about how Instagram influences purchases and store visits? Wondering how much interaction users have with brands? Check out these eye-opening stats on Instagram’s impact:

46% of people made a purchase online or offline after seeing a product or service on Instagram.
37% of people visited a retail store after seeing a product or service on Instagram.
65% of Instagram users visited the brand’s website or app after seeing a product.
50% of Instagram users find a brand more appealing after coming across its ad on Instagram.
87% of Instagram users say they take action after seeing a product on the platform.
77% of people believe Instagram helps them connect with brands.
Instagram also generates 23% more engagement than Facebook.

Sources: (Facebook, Linkedin, Instagram)

Instagram’s Impact on Consumer Behavior Statistics

Instagram is changing how people shop, giving them new ideas and products to explore. Why do shoppers turn to Instagram, and how does it affect their buying choices? Here are some key statistics that show Instagram’s power over consumer behavior:

70% of Instagram users look to the platform for inspiration and new product discovery.
81% of users use Instagram to research products and services.
83% of users said Instagram helped them discover new products and services.
80% of users said Instagram helped decide whether to buy a product or service.
54% of people bought something on the spot or later after seeing it on Instagram.

People surveyed say Instagram helps them with the following

Sources: (Facebook)

Instagram User And Usage Statistics

Instagram’s huge global user base is a gold mine for businesses looking to connect with diverse audiences. Curious about how often users are on the app and which age group is the most active? Check out these key stats to get a better understanding of Instagram’s user behavior:

As of early 2024, there are 2 billion people around the world using Instagram every month.
Over 31.7% of Instagram’s users are aged 18-24, making them the most active age group on the app.
On average, people spend 12 hours a month scrolling through Instagram.
20.3% of all active internet users check Instagram daily.

Distribution of Instagram users worldwide as of April 2024, by age and gender

Sources: (Statista)

Instagram Advertising And Marketing Statistics

Instagram’s ad revenue is skyrocketing, showing just how powerful the platform can be for businesses. Check out these key stats that reveal Instagram’s potential and efficiency for your marketing strategy:

By 2024, Instagram’s ad revenues are projected to reach $70.9 billion.
Instagram ads have the potential to reach 849 million users.
There was a 12.2% increase in Instagram’s ad reach year-over-year.
On average, Instagram ads cost between $0.00 and $0.25 per click.
On average, brands experience a 1% conversion rate with Instagram ads.
Instagram marketers spend 69% of their budget on influencer marketing on the platform.
50% of users on Instagram become more interested in a brand after seeing an ad.

Sources: ( WARC, Linkedin, Social Pilot, Data Reportal, WebFX survey, Bazaarvoice)

Instagram B2B Statistics

Instagram is getting really important for B2B companies. Why are so many B2B brands using Instagram, and how is it affecting their engagement and decisions? Check out these key stats that show Instagram’s role for B2B businesses:

33% of B2B brands are on Instagram.
13% of B2B brands rate Instagram as “very important” or “critical.”
36.2% of B2B decision-makers use Instagram to research new products or services.
Instagram drives 20 times more engagement for B2B companies than LinkedIn.
49% of B2B marketing teams consider Instagram to be one of their most trusted social media platforms.

Sources: (AdEspresso, OneIMS, DashThis)