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

New Data: Instagram Engagement Report [Free Download]

Sometimes, it feels like Instagram looks different every time I open the app—IGVT is long gone, and Reels and Shopping tools are now front and center.

These shifts align with the trends we saw in our 2024 Social Media Trends survey, but I wanted to dive deeper into Instagram research.

So, I asked another 600+ Instagram marketers in Jan. 2024 about how they’ll approach this changing platform in 2024. Here’s what I found.

Table of Contents

Instagram Marketing Benchmarks
Instagram Marketing Strategies
Instagram Content Types
Instagram Audience Growth Benchmarks
Effective vs. Ineffective Instagram Marketing

Top Instagram Marketing Survey Findings

Based on our 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 and the content formats they use most are video-based.
Image posts have the highest ROI of any content format and get the most comments.
Content that showcases 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 prioritize 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 Benchmarks To Know In 2024

1. 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 have between 100K and 450K followers (48%).

2. 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, which makes sense to me, considering the rise in consumers who seek customer service via DMs on the social channels they already use.

Overall, marketers say that content that performs exceptionally well/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.