Instagram has revealed it now has 500 million users daily and 800 million engaging users at least on a monthly basis. The impressive numbers were anounced at an Advertising Week event in New York City by Carolyn Everson, vice president of global marketing solutions at Facebook. Instagram had 700 million monthly users in April and grown 100 million in just 4 months. A number of 500 million daily users is even more stunning when compared with only 173 million daily users of Instagram’s main rival, Snapchat.

There are other interesting details — the time spent by users on viewing Instagram videos is up over 80 percent each year. Moreover, users produce four times more new video content than they did the previous year.

Instagram also shared it now has 2 million advertisers on the platform, which is up from 1 million in March, and most of the growth comes from small- and medium-sized businesses, according to TechCrunch.

What does it mean for us, social media marketers? These statistics prove Instagram to be extraordinary successful and its popularity puts the platform on a path of potentially becoming a competitor of its own parent network, Facebook. There are no more doubts if there is a place for small businesses and whether promoting your product and services on Instagram is worth the hustle of putting time and effort into making creative, eye-catching content and working audience growing strategies out.

It doesn’t matter if you are just starting or already in the process of social media marketing your brand, there is a tool that can double your Instagram success chances and save your precious time from figuring out your own daily liking, commenting and following limits. Learn about the experience of one of its users, check out my first impressions on it, and give it a go yourself. Grow your audience along with Instagram!