Instagram Influencer Marketing Statistics You Should Know in 2024

As social media platforms grow, so do the marketing strategies used to exploit them. Among the top social media platforms for marketing is Instagram, with 57 percent of businesses using it in 2018. Influencers have become an increasingly important part of Instagram marketing and are expected to grow only in 2024. Here are some Instagram influencer marketing statistics you should know:

• In 2018, businesses spent $2 billion on influencer marketing on Instagram alone. This is predicted to rise to $10 billion by 2024.
• Ninety-two percent of marketers who have used influencer Marketing believe it is effective.
• Forty-nine percent of marketers believe in the return on investment (ROI) from influencer Marketing.

As social media continues to evolve, so does how brands and businesses use it for marketing purposes. One of the viral social media platforms is Instagram, and companies quickly realize the growth potential of leveraging Instagram influencers. But what are the stats on Instagram Influencer Marketing in 2024? And what factors should you consider when planning your campaign? Keep reading to find out!

As social media platforms evolve, businesses and brands use them for marketing. One of the most popular social media platforms for marketing is Instagram, which is projected to grow even more over the next few years. If you want to start or further your Instagram influencer marketing strategy, here are some statistics you should know.

What is Instagram Influencer Marketing?

Instagram influencer marketing is finding influential people with an audience in your target market and offering compensation to promote your product.

Instagram Influencer marketing is one of the newest ways to market a company or business.

Instagram Influencer marketing is a way to get your brand seen by many people. By partnering with influencers, you can reach their audience and then some!

An influencer has credibility and can provide an endorsement that their followers trust.

Instagram Influencer Marketing Statistics You Should Know in 2024

• Instagram has more than 1 billion active users monthly
• The average user spends 27 minutes on the app per day, and some spend up to 2 hours a day
• In 2017, there were more than 300 million daily active users of Instagram Stories
• One in five adults is on Instagram
• In 2024, it will have 1 billion active monthly users
• It has over 800 million daily active users as of 2018
• As of January 2019, there are close to one billion monthly active Facebook Messenger users and 400 million monthly active WhatsApp users.
• Instagram will have over 1 billion monthly active users
• The average person spends an hour and a half on the app each day
• Over 60% of those people use Instagram Stories daily
• 20% of those people post to their Stories at least five times per week
• Brands will spend $7 Billion on influencer marketing in 202
• The number of active users on Instagram will exceed 1 billion
• Over 80% of internet users will use Instagram
• There will be over 150 million influencers in 2024, and the average follower count per influencer will be 10,000 followers
• In 2024, Instagram Stories alone are projected to have 400 million daily active users
• In 2024, there will be about 1 billion monthly active users on Instagram
• over 10 million businesses are using Instagram to market their products and services
• The average user spends 30 minutes a day on Instagram
• By 2024, there will be more than 3 billion monthly active Instagram users
• 60% of marketers are using influencer marketing
• The average cost per sponsored post is $500-1000, with an average engagement rate of 7%
• People spend 2 hours and 45 minutes on the app daily
• Instagram has 1 billion monthly active users
• The average user spends 30 minutes on the app every day
• There are more than 100 million business profiles on Instagram, and that number is growing by 5% each month
• More than 80% of people trust recommendations from influencers before making a purchase decision
• Influencer marketing costs 56% less per engagement than traditional advertising
• Instagram will be the most popular social media site in 2024
• More than 100 million people use Instagram every day
• The average person spends more time on Instagram per month than they do on Facebook, Twitter, and Snapchat combined
• In a study of 1,500 brands worldwide with over one million followers on their brand’s respective social media accounts, 79% have an active engagement rate of at least 5% or higher
• 90% of 18-29-year-olds in the U.S. use Instagram
• The average user spends 25 minutes on Instagram every day
• More than 100 million business profiles exist on Instagram, and 5 million new ones are created each month
• There are currently 1 billion monthly active users on Instagram
• 80% of all brands have an Instagram account, and the average person spends 25 minutes daily on it.
• The number of Instagram users is projected to grow by 30% in 2020
• By 2024, the number of people who use Instagram will be over one billion
• In 2021, there are expected to be 200 million active monthly advertisers on Instagram
• As of 2019, the average user spends 27 minutes per day on Instagram
• There are an estimated 500 million posts uploaded every day
• Instagram will have over 2 billion monthly active users
• The average user will spend almost an hour per day on the app
• More than 20% of internet-connected households in the U.S. are projected to use Instagram at least once a month by 2024
• A study found that people who follow influencers on Instagram are more likely to buy products from those influencers
• The average user spends 25 minutes on the app each day
• As of 2017, there are more than 100 million monthly active business profiles on Instagram
• In 2018, 80% of marketers said they planned to increase their use of social media marketing in the next 12 months
• The average user will spend over 50 minutes per day on the app
• By 2024, 80% of all internet traffic will be from mobile devices and tablets
• More than half of brands with 100K+ followers on Instagram post at least once a week
• 67% of 18-24-year-olds use Instagram at least once a day, and 35% of 25-34-year-olds do the same
• 80% of Instagrammers post daily or more often than that
• The average time spent on the app is 20 minutes per day
• Mobile usage will account for more than 80% of the total time spent on the app
• The average user will spend an average of 30 minutes a day on the app
• There are over 100 million influencers with a following of at least 10,000 people
• Instagram is the trending social media platform, with over 800 million active users
• In 2024, it will have a projected user base of 1 billion people
• More than 93 million businesses on Instagram spend an average of $9 per post to reach their target audience.
• The average time spent on Instagram is 25 minutes per day- this number has increased by 8% since 2017
• Instagram will have 1 billion monthly active users in 2024
• The average cost of an Instagram post is $0.29
• The number one influencer marketing platform for brands is Instagram, with 92% of marketers using it to reach audiences
• Brands are projected to spend $13 billion on influencer marketing by 2024, up from $6 billion this year
• Instagram has over 800 million active monthly users
• The average Instagram user spends 25 minutes on the app per day
• 83% of U.S. teens use the platform, and 50% of those use it daily
• There are over 100 million business profiles on Instagram
• In 2024, there will be 1 billion monthly active Instagram users
• The number of people who use Instagram for business is expected to grow by 50% in the next five years
• More than half of the top 10 brands on social media are on Instagram
• Seventy-five percent of all U.S. businesses use or plan to use social media marketing in 2019.

Conclusion

Instagram Influencer Marketing is a rapidly growing field; by 2024, it will be worth an estimated $6 billion. We offer exclusive consulting services for those looking to integrate influencers into their marketing strategy or gain more knowledge about the industry.

With our help, you can find the right influencers for your campaign and negotiate with them on fair terms that work best for both parties. Have you already used influencer marketing? What were some of your results? Contact us today to get a consultation!

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