In the past six months, the number of advertisers has more than doubled.
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In addition to advertisers, Instagram seems to be pulling in more businesses than ever, claiming that over 1.5 million Instagram users have switched their accounts over to business profiles, an option that officially launched earlier this year. The top five countries seeing advertiser adoption are the US, Brazil, UK, Australia and Canada.
Instagram has increased its advertising from eight countries to 200, with the United Kingdom being revealed to be one of the social networking website’s top five markets for advertising. As its ads business has grown, so has its user-base – the company recently passed 500 million users, two-thirds of whom use the service each day. “With over 500,000 advertisers, we’re proving that Instagram is a place where inspiration sparks meaningful action for businesses, from finding new customers to driving sales”.
For example, Canadian online jewellery retailer Jewlr.ca recently found success on Instagram by using the company’s dynamic ads service, targeting USA consumers who had viewed or added a product to their cart without purchasing it.
In fact, since last September 70 per cent of Instagram campaigns have generated “statistically significant” boosts for online conversion or mobile app installations, according to the company’s internal research.
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In Q2, Instagram rolled out new tools to make it easier for businesses to promote posts and track performance directly from the Instagram app.
