With a community of over 200 million users, Instagram has become a powerhouse of social media. It didn't take long before the realization that monetization of that user base was the key to continuing to grow. Instagram began the slow rollout of ads on feeds almost a year ago which has proven successful and as a result, they are adding analytics tools for businesses to get a better grasp of what their ads are generating.
The results from Instagram ad case studies were astounding. Monumental awareness was brought to brands like Ben and Jerry's and Levi's. Instagram is now looking to open up the platform for brands to see more into their analytics with three new catagories including account insights, ad insights and ad staging all to help a brand control and maintain all aspects of an advertisded post on Instagram. Having visibility for small and large companies to see what time of day to post and what type of interaction they get with each post will be imperative for someone to understand the return on investment for promoting on Instagram.
Many sites have popped up over the years offering the same type of analytics like Statigram, now Iconosquare along with Nitrogram, now called Totems. Both these options are great though limiting in seeing full engagement with a specific audience among other things. With the growing need to see this type of data, it will be great to finally reach into aspects of advertising on Instagram for both advertisers and individuals when that option comes along. Only open to brands in the initial launch I hope it soon after is open to anyone and everyone using Instagram.
Account insights: Visability to impressions, reach, and engagement.
Ad Insights: Information on each individual campaign ad posted to a specific target audience.
To read more and get updates about how Instagram is working with the community check out their blog.
[via Instagram Blog]