Journey to $100 Million
Erik J. Olson & Kevin Daisey
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The Decline Of Instagram• 4 min
These days when it comes to social media there is one platform that people believe is all the rage - that is Instagram. People believe that Instagram is growing at a rapid pace and that if a business wants to be successful and reach its customers that is where they need to be. The truth is Instagram is declining in growth. Last year, in 2019, Instagram grew 6.7%. This year, it is expected to grow between 4 and 5%, and next year even less. By 2023 it is expected Instagram will only grow about 1%. While there are many users on Instagram the numbers show us that anyone who is going to be on Instagram is most likely already there. Instagram is not growing exponentially, as some might have you think. And, within the next couple of years growth will become fairly stagnant. By far the number one social media platform to be on in order to attract customers is still Facebook. Like Instagram, its growth is declining, but that's because an overwhelming percentage of the population is already there. It is said that if your business is not on Facebook you are losing to your competitors. That's why we choose to focus our advertising on Facebook and we do the same for our customers. Erik's advice is to do your research. Unless your customer demographic is shown to be prevalent on Instagram, Facebook is where you want to focus your advertising when it comes to social media. — Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups. — Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups. — For more information on the show, and to check out past episodes, go to journeyto100million.com!
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