51 percent of Canadian small businesses are stronger thanks to Instagram, says study

An Ipsos MORI study commissioned by Instagram reveals that more than half of Canadian small and medium businesses (SMBs) are stronger today because of the social network.

That statistic is particularly prevalent with new SMBs, especially ones established less than five years ago.

Furthermore, 64 percent of surveyed women business owners agree that Instagram provides them the power to build their own business.

The study surveyed 1,500 Instagram users aged 13 years and up from across Canada. Additionally, Ipsos surveyed 300 Instagram business users from SMBs with less than 250 people. Ipsos also interviewed 136 company owners and founders within that SMB sample.

Everyone in the SMB sample were either solely or jointly responsible for their company’s advertising, marketing, PR or communications. They also used Instagram on behalf of the company.

Along with everything else, 60 percent of SMB owners feel Instagram helped them turn their passion into a business.

The survey revealed that 97 percent of new SMBs are optimistic for the future as well.

Additionally, 48 percent of SMBs feel Instagram is the best way to reach customers on mobile.

Among the 1,500 regular Instagrammers surveyed, 65 percent of frequent travelers in Canada use Instagram for inspiration for destinations.

Ipsos also found that more than half of SMBs felt Instagram was helpful in connecting with new customers. Furthermore, three in five SMBs said Instagram helps them find customers in their city and half said the network helps them find customers in other cities, provinces and countries.

Overall, the study shows the value Instagram provides to SMBs in Canada. The social network makes it easy for businesses to create intriguing, visual advertisements. Furthermore, Instagram helps businesses target advertising efficiently.

Beyond just ads, Instagram provides a platform for SMBs to showcase product, communicate with new and existing customers and more.