2024 Instagram Marketing Report by The HubSpot Blog [Data from 600+ Marketers]

With every tap to open Instagram, it seems like a new feature has taken over the app’s interface. IGTV is a thing of the past, and now it’s all about Reels and Shopping tools stealing the spotlight.

But what do these shifts mean for Instagram marketing? Our recent 2024 Social Media Trends survey highlighted some exciting trends, and I dug even deeper by surveying over 600 Instagram marketers to explore how they plan to navigate the changing platform in 2024. Here’s what I discovered:

Top Instagram Marketing Survey Findings:

Our survey revealed that most Instagram marketers are ahead of the game:

• 88% found Instagram marketing effective for their company in 2024.
• 37% are leveraging Instagram Shopping tools.
• 62% are posting video content, with video-based formats dominating their strategies.
• Image posts have the highest ROI and receive the most comments.
• Content showcasing brand products and services has the highest ROI of all content types.
• The best strategies for growing your following are engaging with users, partnering with influencers, and posting engaging Stories.

This is just a glimpse of the key findings. Let’s dive deeper into the benchmarks to understand how your brand stacks up against the competition.

Instagram Marketing Benchmarks To Know In 2024:

1. Over half of branded Instagram accounts have between 100K-750K followers:

Our survey showed that a significant portion of respondents fall within this follower range, with the largest group having 100K-450K followers.

2. Likes and comments drive the most engagement:

Likes and comments are the primary ways followers engage with branded Instagram accounts, followed by shares and direct messages.

Shares of Instagram marketers say that content with engaging elements performs exceptionally well and often goes viral.

3. YoY follower growth:

61% of respondents reported an increase in follower count from 2023 to 2024, reflecting a positive trend in audience growth.

Marketers are focusing on creating content that encourages engagement and drives follower growth.

These benchmarks provide valuable insights into the performance and growth strategies of Instagram marketers in 2024.

Instagram Marketing Strategies:

Top Strategies and Goals of Instagram Marketers:

Instagram marketers’ top goals for 2024 include increasing engagement, advertising products/services, increasing brand awareness, and improving customer service.

1. Increasing Engagement:

The most popular marketing strategy is interacting with audiences to boost engagement, reflecting the importance of building relationships on the platform.

2. Advertising Products/Services:

Marketers are focusing on creating content that showcases their products/services, resulting in high ROI and brand visibility.