Facebook-owned photo and video app, Instagram has announced that it now has 1 million monthly active advertisers. With over 150 million active users daily the app has vast opportunities for businesses to share information with people. The number of marketers on has risen together with the number of “business profiles” on the app.
Firms in the U.S., Brazil, Indonesia, Russia and the U.K make up most of the business profiles on the app.Instagram is expected to generate $3.64 billion in advertising revenue globally. According to a report by Forbes statistics on interactions between users and businesses on Instagram suggest the company’s tools are working so far. More than 80% of Instagram users follow a business on the app, and in the past month, more than 120 million users have used business profiles to visit a website, get directions or contact a firm, Instagram said.
Instagram began pushing businesses that had created standard profiles to adopt business-specific profiles. In the future businesses will add a feature to their profile that allows users to make appointments directly using Instagram, the app will also be adding insights data around multi-image posts and Instagram Stories reports TechCrunch.