Instagram hit one billion monthly users—almost an eighth of the world’s population—in June. It is a wildly popular platform, and its growth trajectory is showing no signs of plateauing. Unfortunately for advertisers, the same can be said about the amount of money businesses are currently spending to promote their products and services in the name of selling on Instagram. Ad spend jumped 177 percent year-over-year in Q2 of this year. Impressions grew by 209 percent, and CPMs (average cost per thousand impressions) fell by 10 percent. Advertisers are spending more money than ever in the photo-sharing app, and they’re getting better at doing so. Competition is high.



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