A few months ago, the platform began opening the Instagram API (application programming interface) to certain Facebook marketing partners and agencies. This is a technical way of saying they’re broadening access to their advertising platform and continue to do so as the year progresses.
According to the Instagram blog:
“People want to connect with businesses of all sizes on Instagram, from their favorite local clothing stores and restaurants to the largest brands in the world. … 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.”
According to Business Insider, Instagram is (unsurprisingly) poised to become a huge advertising power player. It reports:
“Analysts and researchers are extremely bullish about the potential for Instagram to become a major advertising business. EMarketer predicts Instagram is on track to generate $595 million in advertising revenue this year, and by 2017 it will be on track to surpass Google and Twitter in terms of US mobile display ad revenues. … Analysts at Bank of America Merrill Lynch predicted Instagram’s ad revenues could reach near $1 billion in 2017, rising to as much as $3.86 billion by 2020.”
So, small businesses, Instagram is not to be ignored. If you aren’t familiar with the platform, now is the time to explore. Begin to build up your Instagram presence, and consider adding Insta-advertising to your 2016 marketing mix. It could be the perfect way to share your story in a creative, visual way.
Will you be adding Instagram advertising to your digital marketing mix? Share your thoughts in the comments below. And stay in-the-know on all the latest content marketing and social media news by subscribing to our newsletter.