As the intense battle for popularity continues between Snapchat and Facebook, the latter introduced a Snapchat-like feature on Instagram that goes by the name of Instagram Stories, this August. The new feature allowed users to share either videos or a series of photographs that would disappear after a day. Upon testing it, the site owners found that approximately 150 million users interact via Instagram Stories every day. In last three month, nearly 100 million Instagram stories have been posted online.
Reports suggest, about 70% people follow business on Instagram. This is why local businesses use Instagram stories to propagate their business ideas. Seeing how crucial the site is for new enterprises, the owners decided to introduce Instagram ads in between the stories.
Instagram Ads: Main Highlights
- 15-second long,
- Full-screen, skippable video/picture with text,
- Initial testing with 30 global brands,
- Ad space auctioned via bidding,
- Measurable Statistics.
According to Vishal Shah, Instagram director of Product Management, these ads will offer an ‘unmatched experience for businesses’. The sponsored Instagram adverts will carry text and a full-screen video within stories. Initially, the company will tests its 15-second long advertisements with 30 world-known advertisers like ASOS, Nike, Netflix and Airbnb etc.
Not only this, the company will use self-service tool for ‘targeting, measuring and reporting’ ad campaigns that make it a superior product for promotional purpose. The pricing per ad will be decided via auctions. The ad slots will be allocated to the highest bidder.
Initially, Instagram stories ads will have short-term objectives like targeting US population, particularly people within the age group of 25 to 40 years. Thereafter, the Facebook-owned company will include other measurable parameters like—
- Number of clicks,
- Number of visits to website via ads published online and
- Number of swipes on ads.
This Wednesday, the company also announced a ‘Business Tools Dashboard’. It’ll include story analytics, replies, impressions and ad metrics to measure the success of ad campaigns run by companies and the revenue generated through clicks.
Why do digital experts feel that Instagram ads will come in handy? Because, rather than flooding the news feeds with ads, the company has chosen a creative way to monetise different features to share the ad load. Hopefully, it’ll generate better business opportunities for the company as well as the users.