Ad spend on Instagram Stories has grown by almost 70 per cent in the past year, and now commands almost 10 per cent of brands’ overall Facebook ad spend. Facebook Stories, meanwhile, only make up 0.3 per cent of spend on the platform.
The figures come from Socialbakers’ report on Instagram and Facebook Trends for Q3 2019. The report also tracked a rise in the eCommerce category, which ranked ranking first on Facebook and second on Instagram for total interactions. Fashion rules on Instagram, increasing its engagement lead from 27.8 per cent in Q2 to 31.9 per cent in Q3 2019.
Sporting Goods, Beauty and Ecommerce brands have the lowest exit rates on Instagram Stories. Food, Beverage and Finance brands, however, are struggling to retain the attention of their audiences.
Use of the hashtag #ad by Instagram influencers has grown by 60 per cent. Walmart is the number one brand associated with Instagram influencers. Video engagement has exploded across all platforms, spurred by new formats such as Facebook Live, IGTV and interactive add-ons for Instagram Stories. And there’s a warning to marketers to think ‘mobile first’ as paid ads are now seen on mobile devices 95.8 per cent of the time, compared to just 4.2 per cent of the time on desktop.
“The latest data shows that marketers continue to shift their resources to social media channels and formats that can better attract and engage users, but it’s a gradual evolution with a lot of moving parts,” said Socialbakers CEO, Yuval Ben-Itzhak. “The rise of social commerce, the changing roles of Instagram and Facebook, influencer marketing, and the exploding popularity of video are just a few of the developments that online marketers will need to analyse and incorporate into their strategies in the coming year.
“Looking at the world’s 50 biggest brand profiles on Instagram and Facebook, Instagram continues to have more interactions on profile posts than Facebook, which was also true in Q2 2019. Because Instagram now offers both large audience size and high engagement, it is pulling more ad spend to the platform. As Facebook ad spend declines, Instagram feed placement has been growing and has reached at least 20 per cent of total ad spend since Q1 2019.”