Instagram As An Advertising Platform
Instagram already allows for business profiles that offer the ability to create different types of content for a targeted audience and provide real-time metrics. Paid advertising for business accounts can be done within the app or through internal and external ad managers. In addition to that, businesses on Instagram now stand to reap the benefits of parent company, Facebook’s, unique marketing capabilities.
The Canvas ad format we originally saw on Facebook in February of last year was introduced as a way for brands to interact with consumers online without interrupting their social experience. A customizable, digital space, these canvases open from Facebook ads, allowing brands to create unique, full-screen, multimedia experiences for their consumers. Better yet, these digital ads load at record-breaking speed within the app itself - no more directing consumers to an external browser to learn more about a product.
So, What Does This Mean for Businesses on Instagram?
We have already seen immense growth from Instagram Stories, launching in August of 2016 and upending Snapchat with 36 percent more daily users in less than a year. The capability expanded to allow for advertising in March and will now introduce the Canvas ad format for business accounts as an extension of the story option. Users will now be able to swipe up on a sponsored Instagram Story to see branded additions to the initial story that are completely customized by the brand itself, allowing for product information, customer testimonials or anything else a marketer may want to share in conjunction with an ad or campaign. The fast loading format loads up to 10 times faster than other web browsers and users will not ever have to leave the application.
In addition to this, Instagram now allows business accounts to upload the organic content from their Instagram Stories to the Power Editor or Ads Manager where they can be repurposed as an ad later on. This adds the face filter, text tool and boomerang features to the other creative elements of campaigns that can be displayed across platforms - which is something Instagram Stories also now allows.
The Proof Is In The Pudding
Based on a split study done by Procter and Gamble’s SK-II, the influence of incremental exposure to brands campaigning through Facebook, Instagram and Instagram stories resulted in an additional 30 percent reach among the brand’s target audience. Thus, Instagram now provides the opportunity, though placement optimization, to capitalize on cross-platform campaigning at maximum cost efficiency.
These new advertising tools and opportunities offered through one of the most widely used social platforms is opening new doors for businesses on Instagram and their ability to engage with consumers.
Want to capitalize on this new social media feature? FiG Advertising + Marketing is dedicated to helping our clients get the best exposure on and offline. Find out what we can do for you.