Instagram is making it easier for businesses of all sizes to buy ads on the app, and will help brands target their audience better.
Campaign Live reported that the site will allow advertisers to reach users based on demographics and interests. Users will also be given greater control in being able to choose which ads they would like to see. Brands that are on the forefront of this exciting development are Kendra Scott, Tieks and our client Taylor Morris.
Instagram said that brands are looking to target their ads in more effective ways to reach people "not just because of their age, location and gender, but because of the people, places and things they love".
The mobile platform is also planning to make its advertising available through an Instagram Ads API and Facebook ad buying interfaces.
There are more than two million advertisers who actively use Facebook to market their business and we want to leverage the best of Facebook's infrastructure for buying, managing and measuring the success of ads on Instagram. We will start by opening the Instagram Ads API to a select group of Facebook marketing partners and agencies, and we plan to expand globally throughout the year.
The photo-sharing platform is also looking to evolve its ad formats to "include action-oriented formats" or platforms where users can take direct action from an ad such as buying a product or signing up to a website.
On Monday Instagram began rolling out its carousel ad platform (which we mentioned here) which allows brands to add extra images to their ads. Users can swipe left to learn about the "deeper stories".
The move will no doubt give product-posting brands further incentive to advertise, since only sponsored ads will be able to offer the "shop now" functionality. (If you'll recall, Instagram does not allow users to insert links in captions, so the only way to send followers to a product page is by encouraging them to click through to a link in the bio of their main profile, or using a workaround like Rewardstyle's Liketoknow.it platform.)
What else is Instagram planning to introduce to its ad platform?
- More targeting capabilities: Instagram will be tapping into the data of its parent company, Facebook, to help advertisers better target users based on their demographics and interests, combining that with information businesses currently have about their customers.
- Opening up to small businesses: Small businesses have been a lucrative part of Facebook's overall ad business, and now it's opening up advertising on Instagram to them, too. In the coming months, advertisers will be able to purchase ads via an Instagram Ads API and Facebook's ad buying interfaces.
Instagram co-founder Kevin Systrom took a selfie with Diane von Furstenberg at the CFDA Awards Monday evening.
The announcement comes less than 24 hours after Kevin Systrom rubbed shoulders with many of the fashion industry's elite at the CFDA Awards, including CFDA President Diane von Furstenberg (pictured). Systrom accepted the Media Award on behalf of Instagram, the first platform (rather than an individual) to receive it.
Pinterest, too, announced on Tuesday its plans to make its pins more "buyable" - and not just ads. Pins that link to a product page from a supported retailer will feature a "Buy it" button. Users will be able to scroll through different options, like sizes and colors, and tap to buy with Apple Pay or a credit card.
Information sourced from Fashionista & Instagram.