Instagram has announced two new tools- Reminder ads and Search Result ads - for advertisers that are aimed at increasing discoverability and forming meaningful connections.
As of now, advertisers around the globe have got access to Reminder Ads on Instagram, but the second ad format, i.e- Ads in Search Results - is in its initial testing stage and will be launched globally in the coming months.
According to Instagram’s blog post that announces the arrival of the two new ad formats on Instagram, “People come to Instagram to discover new brands, products or upcoming events. Today, we’re introducing two new ad products that give businesses more ways to get discovered and form meaningful connections – Reminder ads and ads in search results.”
Furthermore, the blog post also mentions that Instagram had recently partnered with brands like Starz to test a new ad format that makes it easier for businesses to announce, remind and notify people of future events or launches that they might be interested in.
Moreover, it also announces that the Reminder ads format has been rolled out globally to all advertisers as an option in the feed and is aimed at helping advertisers build awareness, anticipation, and consideration for upcoming moments.
“People can opt into convenient reminders and receive three notifications from Instagram one day before, 15 minutes before, and at the time of the event,” the blog post read.
While touching upon their other new ad format, which is currently in testing mode, Instagram’s blog post highlighted that with this move, the Meta-owned platform is aiming to reach people who are actively searching for businesses, products and content.
“Ads will show up in the feed that people can scroll when they tap into a post from search results. We plan to launch this placement globally in the coming months,” the blog post read.
This development comes just a few quarters after Meta had reported its first-ever quarterly revenue decline of 1% (in Q2 of 2022) owing to a ‘weak advertising demand environment’ that is being driven by ‘broader macroeconomic uncertainty’, the company had said at the time.
In fact, of late, Meta’s Q4 and Year update for 2022 also mentioned that its ad revenue has taken a hit to $31.2 billion from $32.6 billion on a YoY basis.
At the time, Susan Li, Chief Financial Officer, Meta, had reiterated that the company’s revenue for the fourth quarter remained under pressure from weak advertising demand owing to the ‘uncertain and volatile macroeconomic landscape’.