2024 Instagram Marketing Report: Discover how over 600 Instagram marketers are navigating the ever-evolving platform to boost engagement, drive sales, and grow their audiences.
Sometimes, it feels like Instagram looks different every time I open the app. IGTV is long gone, and features like Reels and Shopping tools are now front and centre.
These shifts align with the trends we saw in HubSpot’s 2024 Social Media Trends survey, but I wanted to dive deeper into Instagram research. So, I asked over 600 Instagram marketers in January 2024 about their strategies for this changing platform. Here’s what I found.
Top Findings from HubSpot’s Instagram Marketing Report Survey
Based on the results, most Instagram marketers are already ahead of the game:
– 88% say Instagram marketing has been effective for their company this year.
– 37% leverage Instagram Shopping tools.
– 62% post video content on the platform, with video-based content formats being the most used.
– Image posts have the highest ROI of any content format and get the most comments.
– Content showcasing a brand’s products/services (demos, teasers, etc.) has the highest ROI of any content type.
– The best strategies to grow your following on Instagram are engaging with other users (follows, likes, etc.), partnering with influencers, and posting interactive and engaging Stories.
– Instagram marketers will prioritise increasing engagement (likes, comments, shares, etc.) in 2024 and creating content that encourages engagement.
– 13% use the app for customer service.
– 21% partner with influencers (or creators).
This was a top-level taste of the most important findings I gleaned from the survey. Now, I’ll dive deeper into the benchmarks that will help you see how your brand compares to the competition.
Instagram Marketing Report Benchmarks to Know in 2024
Over Half of Branded Instagram Accounts Have Between 100K-750K Followers
3% of our survey respondents have under 10,000 followers, while 11% have between 10K and 100K followers. The largest distribution of respondents has between 100K and 450K followers (48%).
Most Engagement Comes from Likes and Comments
Likes and comments are tied as the main ways followers engage with branded Instagram accounts. Shares take second place, followed by direct messages. This makes sense, considering the rise in consumers seeking customer service via DMs on the social channels they already use.
Overall, marketers say that content that performs exceptionally well or goes viral always has engaging elements, whether simply encouraging discussion, easy shareability, or interactive elements. Take a look at where the impressions came from on your top posts and look for any patterns you can turn into a consistent strategy to recreate your success.
Most Accounts Have Major Year-Over-Year Follower Growth
61% of respondents told us that the follower count of the accounts they manage has increased from 2023 to 2024. Just 10% say follower count has decreased. This is a change from the last time we ran this survey in 2021 when less than half of business accounts said follower counts increased.
Part of this change can likely be attributed to the rise of social shopping. In the past three months, Instagram is the second most popular app consumers have used to make an in-app purchase.
Instagram Marketing Strategies
Top Strategies and Goals of Instagram Marketers
Instagram marketers’ top goals on the platform in 2024 are increasing engagement (likes, comments, etc.), advertising their products/services, increasing brand awareness/reaching new audiences, and improving customer service/retention.
Increasing Engagement (Likes, Comments, Shares, etc.)
Since increasing engagement is marketers’ primary goal, it’s not surprising that the most popular marketing strategy is interacting with audiences (like replying to comments) because that’s exactly how you increase engagement.
It’s also no surprise that the strategy to get the most investment in 2024 is creating content that encourages engagement and that this offers the highest ROI.
The Importance of Interacting With Your Audience
There are various ways for you to interact with your audience, from simple reactions to comments and DMs. However, you go about it, I recommend taking the time to engage with your followers to strengthen the bond they have with your brand. Interaction is a two-way street, so you’ll want to create content that encourages engagement.
Advertising Products/Services
Advertising products/services is the #2 goal for 2024, and marketers will accomplish this by creating content that showcases their products/services. Content that showcases products and services offers the highest ROI of any content type.
Increasing Brand Awareness/Reaching New Audiences
Increasing brand awareness is Instagram marketers’ third most important goal in 2024. My top recommendation for increasing brand awareness is to have a consistent schedule and presence on the platform so you are more likely to be seen.
The data recommends sharing video posts (they get the most reach/impressions) and image posts (which get the most shares).
Increasing Customer Service on the App
Fostering meaningful relationships with consumers is one of the biggest benefits of having a brand presence on social media, so it’s no surprise that improving customer service and retention is a top goal for marketers in 2024.
Sure, customer service might not seem like your job, but since consumers are shopping on social media more than ever, they expect to get service on the platforms they already use to make purchases. To strengthen the case for providing customer service on the app, I found that marketers who rate their strategies as very effective are more likely to use Instagram for customer service than those who report the opposite.
Building Relationships and Community with Engaging Content
Marketers want to build relationships and community, and they’ll do it by creating engaging content. Creating content that encourages engagement is receiving the most investment from marketers in 2024, with 37% planning to invest more in it than any other strategy.
Going out of your way to connect with those in your digital community, especially when you aren’t trying to sell them anything, can help foster a deep relationship between them and your brand.
Gaining Revenue With Instagram Shopping Tools
Instagram Shopping tools are still evolving, but 71% of social media marketers who sell products directly within the app say its social shopping features have high ROI.
37% of marketers currently use shoppable posts or other Instagram Shops features. A majority say that 25-50% of clicks on shopping/linked posts lead to purchases. The same percentage of clicks lead to non-purchase-related conversions (like form submissions), which can help you nurture leads into paying customers.
Consumers are using the platform to make purchases; 46% say they’ve made a purchase on Instagram in the past three months, and it has the second-best in-app shopping experience. Marketers using Instagram shopping tools are likelier to say that their Instagram strategy has been very effective this year.
Including Calls to Action in Content
We asked Instagram marketers whether asking followers to “like,” “share,” or “save” their content is most effective at triggering the algorithm to promote their content, as these are among some of the top metrics Instagram monitors.
While Instagram marketers rank likes at #1, shares second, and saves last, I can also make a case for viewing it differently. Consider your behaviour when on Instagram. If you’re like me, you probably give out likes mindlessly while scrolling through your feed, but how often are you sharing content to your story or in chats with friends? How often are you saving posts to look at later? Those pieces of content are probably much more carefully selected.
When we share posts on Instagram, we are telling others that we found the content so valuable that we couldn’t help but share it with them. The algorithm picks up on this. Sharing also gets bonus points because it inherently exposes more people to a piece of content.
Similarly, when saving content, we tell the algorithm that we found it so valuable that we want to bookmark it for future reference. So while all three of these are the most important metrics Instagram tracks, I would prioritise saving, sharing, or even commenting in your call-to-actions ahead of asking for likes.
Strategies Marketers Aren’t Using in 2024
Affiliate marketing campaigns, contests/giveaways, and user-generated content are among the least used Instagram strategies, receiving the lowest investments in 2024. If you’re having difficulty building an effective UGC, affiliate marketing, or giveaway plan, consider alternatives, like partnering with influencers in your niche who can generate authentic content for your brand to establish social proof and spread awareness.
It will pay off, as marketers told us influencer marketing offered the third-highest ROI. While these strategies can still be successful and valuable to some brands, marketers we surveyed say they are not as effective as the other strategies we asked about.
Another strategy receiving lower investments is hashtags, but despite this, I still recommend using them because they help increase brand awareness and reach new audiences.
Leveraging Hashtags
Hashtags have been around on Instagram since 2011, and they work in terms of increasing brand awareness and reaching new audiences. However, Hashtags have dropped in popularity, and they’re at the bottom of the list of Instagram strategies marketers plan to invest in in 2024. Here’s the important data I have about using them on Instagram.
How Many Hashtags Should You Use on Instagram?
HubSpot survey shows that when they use hashtags, a majority of marketers use between 6 and 11 hashtags (36%). Only 3% use between 27 and 30 (30 is the maximum amount). When you do use them, leverage a mix of niche and general hashtags. For example, a specific hashtag like #Dachshunds and broader ones like #Dogs can help you attract a wider audience.
Marketers say that hashtags have the most impact on comments and impressions, meaning that they can help increase brand awareness and visibility.
Which Instagram Formats Are Most Effective?
The most popular formats/features among Instagram marketers are image posts, videos, and Stories.
Image Posts
Image posts have the highest ROI, and marketers who use them say they make up most of their content mix (67% of posts are image posts). Marketers also share image posts multiple times per week.
Video Posts
62% of marketers share video content on Instagram and say 59% of their content mix consists of videos they post multiple times per week. Videos get the most likes of any other format.
Instagram Stories
48% of Instagram marketers leverage Instagram Stories, and the feature makes up 43% of their content mix. Out of the most common engagement metrics, Instagram Stories bring in the most DMs. Marketers who leverage Stories say they share them multiple times per week (33%) — 14% post multiple times per day.
When you do post them, how long should your Stories be? 75% of marketers say their audience watches 4-9 before dropping off, with only 7% saying their audience watches the entire Story regardless of length. We also asked about the ideal number of stories to have up at once — 74% of Instagram marketers say 4-9 stories is best.
Instagram Reels
37% of Instagram marketers use Instagram Reels, making up more than a quarter of their content mix. The frequency of posting varies, with a majority posting multiple times per week (31%). 25% post Reels once a day.
Reels fall towards the middle of the pack across engagement metrics, but I think the feature provides unique brand opportunities. For example, brands and influencers focused on it have seen major benefits to leveraging it. For example, my teammate Caroline Forsey spoke with Kar Brulhart, who has organically grown her Instagram account from zero to 45,000+ viewers in under ten months using Reels.
She told Caroline about the incredible opportunity Reels presents for Instagram marketers: “I went from less than 2,000 followers in February 2020 to over 15,000 the next month through Reels, because Instagram is pushing Reels to new audiences. And 75% of the people who find my account are coming from Reels — compared to Stories and posts.”
Considering the popularity of short-form videos and the emphasis Instagram places on Reels, I recommend giving the format a shot. They’re relatively easy to make and can also provide a boost in exposure.
Which Types of Content Perform Best on Instagram?
The most popular content types on Instagram are content that showcases a brand’s products/services (demos, teasers, etc.), funny content, relatable and authentic content, and content that reflects a brand’s values (like social responsibility). When it comes to ROI, the top three remain the same, but behind-the-scenes content (like meet-the-team videos) takes fourth place.
Content Centered Around A Brand’s Products/Services
49% of HubSpot survey respondents share content centered around a brand’s products/services and say it has the highest ROI. I’m not surprised: marketers’ #2 goal in 2024 is advertising their products and services, and, well, they act on that goal by sharing content centered around their products/services.
Funny Content
Funny content has the second-highest performance on the app, and it’s most popular among B2C and D2C businesses. Also no surprise there, as consumers say funny content is the most memorable type of content brands can post on social media.
Relatable Content
Relatable content offers the third-highest ROI, likely because of consumer preference. Audiences care more that the content they see is authentic and relatable than having a high production value.
Content That Reflects Brand Values
Content that reflects brand values is the most popular content type in HubSpot’s social media trends survey this year, and 35% of Instagram marketers use it. 53% of social media marketers plan to increase their investment in this content type this year and say it offers the second-highest ROI of all content types.
Behind-the-Scenes Content and Interactive Content
29% and 28% (respectively) of Instagram marketers share behind-the-scenes and interactive content, and usage of both is growing in 2024. While knowing what type of content to post on Instagram is helpful, it’s only part of the equation. An optimised Instagram marketing strategy also includes the ideal days and times to post based on what brings in the most engagement.
In fact, just 9% of our survey respondents told us that this kind of optimisation has no noticeable impact on performance. According to marketers, the best day to post is Friday between 6-9PM. Sundays also bring in high performance, and you’ll find success between 12-3PM and 6-9PM on most other days.
ROI of Instagram Marketing
How do marketers look at the overall ROI of their presence on Instagram? I asked marketers about what they look at to determine overall ROI, and the most important metric is revenue/sales of products within the Instagram app. That’s followed by the number of leads and conversions driven from Instagram. Regardless of the metrics you prefer, your followers are the true drivers of your success on the app. Let’s go over the top strategies for growing your following on Instagram.
Instagram Audience Growth Benchmarks
How Brands Grow Instagram Audiences
The best strategies for growing your following on Instagram are engaging with other users, partnering with influencers, and posting interactive and engaging Instagram Stories. Partnering with brands/accounts with similar audiences is #4, and it’s a growth driver because you gain exposure to audiences who might not yet know about you but are likely interested in your content. Another powerful growth strategy is diversifying your content to resonate with a wider audience. You’ll also want to study your audience for trends and create targeted content to attract others with similar interests.
How to Get Your First 1,000 Instagram Followers
Earning your first 1,000 followers on Instagram is a massive milestone, and 78% of Instagram marketers I surveyed have been part of growing an account to 1K followers. According to them, setting a regular posting schedule, customising your profile, and writing engaging shareable captions are key to reaching your first 1K followers. Remember that the formats most effective at getting shares are image posts, video posts, and Reels.
How Long Does It Take to Reach 1,000 Followers on Instagram?
Most marketers say it takes 4-6 months to reach 1K followers on Instagram. Only 17% reached that in under a month, and just 1% took over a year. But just as you gain followers, it’s also possible to lose them. Let’s take a look at what has caused Instagram marketers to lose followers, so you can avoid those mistakes.
What Causes Instagram Marketers to Lose Followers?
Not posting enough and being too “sales-y” are the top culprits when losing followers. Nearly a quarter of respondents report losing followers from not using a consistent aesthetic/voice and Instagram removing bot followers. Lastly, using “banned” hashtags can result in your posts being hidden. You can check if a hashtag is banned by searching it on Instagram and looking at the top or most recent posts. If those sections come up empty, it’s likely banned.
Organic vs. Paid Instagram Content
Most marketers (46%) use organic content over paid (16%) content, and 38% use both. Those who use a mix of both say organic content is more effective for reaching business goals and gaining followers.
Instagram Marketing Challenges
We have an entire article about Instagram marketers’ challenges, but I’ll give you a sneak peek at that data here. Survey respondents told us that the greatest challenges with Instagram marketing are driving traffic to their site, driving purchases/revenue, and increasing brand awareness/reaching new audiences. If these resonate, take a look at this piece to see how to overcome them.
Setting Effective and Ineffective Instagram Marketers Apart
I asked marketers whether their Instagram marketing reporting strategies have been effective or ineffective this year and cut the data by the two separate groups and strategies they use. Here are some of the biggest differentiators:
– Video is key: Instagram is constantly evolving to welcome more and more video formats. While you don’t need to create a large live video event, consider starting small with Reels as it is being favoured by consumers and the Instagram algorithm. But, don’t forget about the original Instagram content format: Images.
– Engage constantly: Whether you’re responding to their comments, exchanging DMs, or creating content that sparks a conversation – it’s important to ensure that your Instagram strategy caters to your audience and meets them where they are.
– Social Shopping is the future: Shopping on social media is the future of e-commerce, and Instagram is a great place to do it. With a handful of shopping tools to choose from, there is no better time to get started.
– Use Instagram for customer service: Using Instagram for customer service is a quick and convenient way to answer customers’ most pressing questions, and marketers who use it see high ROI.
For more insights and tips on video marketing, visit our blog. If you have any questions or need assistance, feel free to contact us via email at info@07hm.co.uk or call us at 01702 410663.
