When Firebrand Group asked marketers where they were advertising on social media in the Future of Social report, Instagram’s ad spend came dangerously close that of Twitter’s- even though Twitter’s ad platform has been around for years longer. This is a testament to the rise of multimedia-based content and the continued success of advertising on Instagram.
Omar Akhtar, Managing Editor and Analyst at Altimeter, suggests the success of advertising on Instagram comes from the Facebook advertiser base and advertising tool set. Considering Facebook’s ownership of Instagram, this makes creating ads for both networks simple; if you know how to create a Facebook ad, you know how to create an Instagram ad. Often, advertising on Instagram is as easy as selecting one additional button.
Instagram is “more popular among millennials” than Facebook, says Akhtar, another benefit to businesses as they develop their relationship with this Gen Z market. “There’s an opportunity in using the lesser popular social media formats [like Instagram] since the ad rates are lower and companies have a chance to get a head start in innovating on these platforms.”
Snapchat’s growth is another indication of the value in image and video ads. Nine percent of respondents have run an ad on Snapchat in the past year. At first glance, this number seems low. But considering Snapchat’s advertising tools are not self-serve yet on the emerging platform, but it is a very good sign for Snapchat’s long term success.
Overall, Instagram, Pinterest, and Snapchat have the largest ground to make up here in the next year. The majority of respondents have yet to run an ad on these three social advertising options. Yet with the results of advertising on Instagram and Snapchat proving these platforms have the potential for growth, the success of these visual networks is imminent.