Instagram is a leading social networking platform that has gradually gained importance after becoming a marketplace and a source of earning for many people. Small Businesses are beneficial for Meta Instagram. As an influencer in fashion, food or art, one can grow immensely by creating and building a profile on Instagram.
Instagram influencer market size in 2021 was 13.8 billion USD, and these estimates are likely to grow to 22.2 billion USD by 2025. Various factors contribute to the growth of the global Instagram influencer market size. In the article, we will discuss the reasons for the growth of Instagram’s influencers’ market size and how it will likely affect the global Instagram influence in the upcoming years. Keep scrolling to know more.
Reason for the Growth of Instagram’s Influencers’ Market Size
Two factors are the most important to consider of all the reasons responsible for the growth of Instagram’s influencers’ market size. These factors are discussed below in detail.
Rise in E-Commerce
There has been a substantial rise in E-Commerce platforms since 2010. While earlier, the money spent on product advertising was distributed over several channels and media forms such as television or the newspapers. For the time being, the E-Commerce firms have decided to invest the money for advertising on Instagram influencers.
As the fame and reach of Instagram influencers have expanded over the years. Buisness now use it to promote a product and it even helped E-Commerce firms acknowledge a reduction in the amount spent for marketing along with the rise in product purchases. They have changed their marketing techniques and tactics, and now the firms effectively spend the budget advertising Instagram influencers.
Instagram itself is widely used as a way to promote E-Commerce. Several small businesses are expanding themselves via Instagram. This has widely been the case with home bakers since the time of COVID-19. E-Commerce firms are investing hugely in Instagram influencer marketing as they are provided with numerous opportunities on the platform.
Understanding the Market Strategy
Another dominant factor that has resulted in the rise of Instagram influencer market size is the understanding of the market strategy by business organizations. Since there are millions of active users on Instagram every day, businesses have very well understood that choosing Instagram to carry out market campaigns will benefit them a lot.
According to a study, as many as 68% of all marketing specialists use Instagram for influencer marketing campaigns. Not only this, even influencer marketers know the best way to interact and collaborate with other influencers to promote themselves or the product they have a partnership with. Influencer marketers have built a strong channel to communicate widely with content creators.
One of the most popular social networking platforms of the time, Instagram is worthy of being used as a marketing platform.. The creators on Instagram offer a wide variety of opportunities for business organizations. They help them to grow and expand themselves in less time than it would have taken to grow via television or newspaper.
Marketing through Instagram enables customers to trust your product and rely upon it. Mainly when it is used or recommended by an influential content creator. This accounts for more than 60% of business organizations today have changed their marketing strategy. They use Instagram as a powerful medium to promote their product and grow their business.
New Instagram Updates
Considering the need of the hour, Instagram has brought about several changes and updates. These changes and updates help Instagram influencers gain more from the platform and grow accordingly. For instance, Instagram has launched a “Professional Dashboard” wherein the content creators can easily collect information on the views, likes, shares, profile visits etc., on the “Home” location.
Now, all Instagram users can use “Links” in their stories. Earlier, this feature was only available to those with more than 10K followers or a verified Instagram account. These links are used to share relevant information about the advertised product.
Another update allows content creators to take money from promotions from the sponsors directly. This feature is added in the new monetization options. Content creators must sign up for a brand-new affiliate marketing program to enable this.
Conclusion
Instagram influencers’ market size has been tremendously increasing due to more activeness of the users on Instagram than any other social networking platform. Businesses are willing to invest in advertising via Instagram influencers as they understand the market strategy. They are also aware of the growth a business can experience via Instagram influencer marketing.