Quick Answer 🔍How many Instagram business accounts are there in 2023?
There are over 200 million businesses on Instagram.
The user base on Instagram consists of nearly 1.4 billion monthly active users (MAUs).
Of these users, how many of them are business accounts? This is the topic we will be looking at in this article.
If you’re a small business struggling to make things work on Instagram, the following data and statistics will help you with that.
You may find out just what you need to get started, or some things you didn’t know mattered.
That said, let’s get down to answering the question of how many businesses are on Instagram.
How Many Instagram Business Accounts Are There in 2023?
According to the latest sources, there are over 200 million businesses on Instagram out of the 1.4 billion MAUs.
Of the 200 million businesses on Instagram, 71% claim to use this platform for business.
Also, around one-third of the most viewed Instagram Stories are posted by businesses.
This means that businesses are getting a lot of attention on Instagram.
If you’re not making use of the business Instagram account and tools it offers, you are getting behind your competitors.
How Many Instagram Users Engage with Brands and Businesses?
Over 200 million Instagrammers will visit at least one business account each day.
So, essentially, for all 200-million plus businesses on the Instagram platform, there is one Instagrammer that visits one at least once per day.
Additionally, Instagram business accounts with less than 10,000 followers achieve an average engagement rate of 1.11%.
Some brands and businesses use Instagram influencers to reach out to their audience for higher engagement and exposure to audiences they may not be able to engage with otherwise.
In fact, influencer marketing accounts for over half of 17% of all marketer’s marketing budgets.
The latest numbers show that there are at least 500,000 active Instagram influencers, and 55.4% of these influencers use Instagram Stories for their sponsored campaigns.
Since influencer marketing is such a substantial part of marketing on Instagram, we will give it its own section next.
How Does Influencer Marketing Impact Instagram Business?
As mentioned, brands and businesses are contracting and collaborating with Instagram influencers for their marketing efforts.
We found that 55.4% of influencers are using Stories for their sponsored campaigns, of which 25% consist of fashion-centric posts.
Instagram is preferred by 79% of brands who employ Influencer marketing.
It seems to be working out pretty well with 37% of Instagrammers engaging with these influencers.
While we often associate influencers with celebrities or “stars”, they don’t need to be that kind of famous for people to like them or to engage with them. That is how Instagram celebrities are made, after all.
Let’s discuss how 18% of marketers have learned that Instagram provides the best and highest Influencer marketing return on investments (ROI).
The statistics show that marketers can earn $5.20 for every $1.00 they invest ininfluencer marketing.
That’s how much influencer marketing impacts Instagram and those who use this sector of marketing on the platform.
Influencers can earn from between $40,000 to $100,000 annually working with brands.
They can make up to and over $200 per post. Even nano-influencers can make over $100 for a sponsored video post.
What Are the Costs of Instagram Ads for Businesses?
Instagram Ads usually come with higher rates than Facebook Ads because the average cost per click (CPC) is higher than on Facebook.
That doesn’t mean you should not run ads on Instagram. If anything, the return on ad investment on Instagram is excellent.
If your audience is on Instagram, you will get what you are paying for in ad costs.
You need to know that Instagram advertising offers businesses a potential reach of around 928.5 million people.
According to the figures, around 75% of Instagram users will engage with at least one ad on Instagram at some point. The odds are in your favor.
It can cost between $0.20 to $2.00 per click to run an Instagram ad campaign.
The costs are based on your audience, industry, location, and other factors that will impact costs for advertising on Instagram.
How Does Instagram Shopping Affect Businesses?
Next, we will examine how Instagram Shopping affects Instagram businesses accounts.
There are more than 130 million Instagrammers engaging with shopping posts each month.
This figure alone opens up many opportunities for businesses on the platform. Also, more than half of Instagram users use the Explore tab at least one time a month.
Instagram Shopping has been growing steadily, yet quickly in popularity among Millennials and Gen Z, but also among Gen X and Baby Boomers.
Therefore, no matter what your target audience is, you have opportunities for making sales.
Since Instagram is making it so easy to use shopping and product tags, options to buy from Live streams, and Instagram Checkout that streamlines the product discovery, decision-making process, and purchasing process, users are loving how it all works.
Approved businesses can easily create content with the tools for shopping on Instagram.
So, the shopping experience is not only appealing to customers or potential customers, but also for businesses seeking to find new business.
How many businesses are there on Instagram?
There are 200 million business accounts on the Instagram platform.
Are you one of them?
If you are a business on Instagram, this article has provided you with the figures and data you need to boost your chances of being successful.
If you’re not using Instagram business tools, you are not maximizing your presence or your chances of success.
If you’re a brand on Instagram, you know how influencer marketing positively impacts revenues, connections, customer relationships, and promotes customer loyalty.
Are you using influencer marketing yet?
You also know how Instagram Shopping is making positive changes to the way people shop.
Not only that, but also helping businesses boost their brand awareness and enjoy new customers and the revenue they bring.
After reading this article, do you feel compelled to further research using Instagram for your business?