Instagram hasn’t become as synonymous with advertising or online marketing as it’s older sibling, Facebook, has. However, new stats announced by the company show business is booming on the popular social media platform.
Since July, more than 10 million businesses have launched business profiles – Instagram’s version of Facebook’s Pages – totaling over 25 million business profiles.
Instagram’s business profiles rolled out in May of last year and saw an initially slow response. The profiles give brands a more professional appearance on the app, including a “contact us” button and access to analytics features.
The inclusion of these business-oriented features has helped woo more advertisers to the platform, as well. Since the launch of business profiles, Instagram has increased its advertiser base from around 200,000 in February 2016 to more than 2 million in September of this year.
According to Instagram’s statistics, approximately 80 percent of Instagram’s 800 million monthly active users follow a business. Additionally, around 40 percent of the 500 million active daily users view at least one business’s profile each day.
Interestingly, two-thirds of the more than 200 million people that view a business profile each day did not previously follow the brand. That suggests the pages are effectively helping connect businesses with new potential customers and fans.