Numerous local businesses and budding entrepreneurs depend on Instagram for a large share of their target market. With over 1 billion monthly users, it isn’t hard to see why this is so.
The platform’s central question seems to remain focused on taking advantage of these incredible numbers and using them to reach even more people.
Below we take a look at six fascinating Instagram stats on 2020, what they mean for the year 2021, and how you as an entrepreneur can take full advantage of them.
1. 1 Billion+ Monthly Users
One of the most important stats, Instagram received over a billion unique users every month, with 500 million of them making use of Instagram stories every day.
This is an unbelievably large pool of potential audience to reach out to. Of course, the challenge remains how to get through to these numbers. And seeing as Instagram severely limits new accounts, more and more marketers have had to develop innovative ways to boost funds from the start.
Some have been known to reach out to influencers, perform moderate targeted actions on new accounts, while some even get real famoid followers, to begin with.
2. 200 Million People Visit at Least One Business Profile Daily
200 million people visit at least a business profile daily on Instagram. This only goes to reinforce just how great Instagram is for businesses.
Of course, this is already a fact. But for those who remain skeptical in the face of all the success stories, this is a statistic capable of providing some inspiration.
3. Instagram is Projected to Reach 117.2 Million US Users
As though the current numbers aren’t good enough on their own, according to data collected by e-marketer, Instagram is projected to reach more than 112 million users in 2020.
For context, this is more than 7% of what it was in 2019.
4. Gender Mix on Instagram is 52 – 48
The gender mix on Instagram may not be as mind-blowing as the other statistics on the list; it is nonetheless an important one to consider. According to available data, the gender mix on Instagram is 52% female to 42% male.
This shows an equal spread and that the platform is excellent for businesses no matter what the primary gender appeal is.
5. Influencer Marketing
A significant part of Instagram’s monetization strategy is that influencer marketing is a popular advertising strategy among new and established brands. It’s only going to get even more popular in 2021.
According to data collected by e-marketer, brands pay Instagram influencers between $100 and $2000 per post and between $43 and $721 for story promotions.
6. Instagram Earned More Than 12 Billion Dollars in AD Revenue in 2020
There must be something going right at the platform if the management makes more than 12 billion dollars on ad revenue. It may be too easy to dismiss this figure as not much of a concern to the average Instagram marketer, but the way we see it is this. If a social media platform can make so much money on ad revenue, the user base is quite strong, and the regular user’s potential is as healthy as it gets.