Social media marketers know the importance of utilizing all of the functionalities of Instagram, and new research suggests that Instagram Stories, in particular, are becoming more impactful.
Conviva recently published the “2020 Instagram Stories Benchmark Report,” and statistics showed that this year, the average completion rate for Stories – the video component of Instagram – has come in at 87%. This is a 3% increase from 2019, and a 14% increase from 2018, suggesting that more prospects and customers are watching the video content that marketers are uploading to the social media platform.
There has also been a rise in the percentage of Instagram users interacting with video content across the platform as well. On average, Instagram Stories have had a 7% reach rate in 2020, which is an increase from the 6.7% recorded in 2019.
The Rise in Instagram Usage Among Inc. 500 Marketers
Instagram usage has been slowly but steadily rising among marketers, and previous research suggests that Inc. 500 companies are specifically taking an interest in the social media platform.
The Center for Marketing Research at UMass Dartmouth published research on social media marketing among Inc. 500 companies, and data showed that 95% of these organizations now use at least one social media platform. In particular, Instagram is on the rise among these companies.
Last year, 52% of Inc. 500 businesses said they were using Instagram to reach out to customers and prospects, which is an increase from just 36% who said the same back in 2018.