Social media is now a standard component of the marketing strategy for 85% of small and medium-sized businesses (SMBs). The vast majority use Facebook (78%); however, in recent years, we have seen more businesses expanding to other social media channels. Instagram is one that has taken off with a 65% growth rate over the past three years. Today, 38% of SMBs incorporate Instagram into their marketing strategy. SMBs see this as an untapped channel to connect with new segments of younger customers. More than 60 percent of Instagram users said they use Instagram to find things that they want to purchase or obtain in real life.
Businesses are using Instagram in several ways. Here are a few:
These are photo or vertical video posts that last for 24 hours and appear at the top of the Instagram feed. Instagram stories are becoming an increasingly more important part of Instagram for businesses. More than 500 million people use Instagram stories every single day, and small businesses cannot afford to miss out on these valuable eyes. Another great thing is that they can be automatically cross-posted to the brand's Facebook account.
With Instagram ads, businesses can target specific audiences and get their content in front of people that would've otherwise not seen it. Ads can be in the forms of video ads, photo ads, carousel ads, collection ads, or story ads.
When it comes to influencer marketing, Instagram leads the way. For larger businesses or brands, social influencers can be a game-changer. These resources will help companies to get connected with their target audience.
We will continue to monitor this trend in future waves of our research.
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