Twelve months ago, Instagram launched Stories – which at the time was seen as nothing more than a simple Snapchat rip off.
Since then it has become an integral part of the world’s largest dedicated visual communication app.
Of all the businesses on Instagram, half produced a story in the last month, and it’s boosted the app’s average usage to 32 minutes per day for those under 25, and 24 minutes per day for those 25 and up.
If Facebook’s goal was to stop Snap in its tracks, it’s largely succeeded with Instagram Stories.
Snapchat’s monthly active user growth rate has plummeted from 17.2% per quarter to just 5%, while Snap’s share price has fallen from its $17 IPO to $13.
Instagram Stories now has 250 million daily users compared to Snapchat’s 166 million; whilst Instagram’s usage per day beats the “more than 30 minutes per day” of usage Snapchat claims on average now, as well as the over 30 minutes per day for under 25s and 20 minutes per day for over 25s Snap cited in its IPO filing.
With the products being so similar, this shows how important Instagram’s existing audience was.
The numbers are especially good reading for businesses, with one in five Instagram Stories posted by a business receives a Direct Message reply.
This allows Instagram to seduce advertisers who want the ability to directly converse with potential customers.
Unless Snap can pull off a big turnaround before it reports its earnings later this quarter, it may see Wall Street sour on its future the same way it did with Twitter.
Not that Instagram will let up the heat.
A year ago, it looked like Snapchat was destined to rule social media.
Turns out Instagram didn’t have to outdo Snapchat. They just needed to copy it and put it in a more convenient place in apps that people of all ages already use.
If you’d like to chat to someone at +24 Marketing about your Instagram use then call us on 01282 792568 or connect with us @Plus24Marketing.