Instagram is now a community of over 300 million users, and Facebook is about to open its entire suite of targeting to advertisers on the mobile platform over the next few months, according to Carolyn Everson, Facebook’s vice president of global marketing solutions. Facebook already uses some of its data for ad targeting on Instagram, but, at the moment, it’s limited to age and gender. Facebook purchased Instagram for more than $700 million in 2013, and seems to be ready to boost revenue from the photo-sharing social network, so that’s all about to change.
Facebook contains 1.4 billion users, and probably owns more data on you than the U.S. government. The social network is pushing their advertisers to get more strategic with all that data. Facebook is hosting meetings with clients and ad agency partners at the Cannes Lions festival in France this week, the largest annual global gathering of advertisers and marketers. The mission of those meetings is that “the creative community really starts to learn and understand the power of our data,” Everson said. Everson hopes to encourage brands to take more creative tactics, such as distributing different versions of the same ad depending on a viewer’s interests.
Instagram has launched a tutorial for brands encouraging high-quality, compelling storytelling when it comes to advertising on the platform. In an “Inspiration” section, Instagram’s calls out some of their best-in-class examples of brands using the platform to express their brand identity- @warbyparker, @charitywater, @missionbicycle, @disneyland, @gopro, and @chobani.
As Instagram states, if one of your business goals is to build awareness of your brand and/or to shift perceptions about your brand, this is reason to keep an eye on these advancements to the platform.
If you need help with your Facebook or Instagram strategy, or you need help with your advertising or content distribution on either channel, contact Raidious today!