The Rise of Shopping Platforms | Discussing Recent Ad Targeting Developments for Brands on Instagram
Instagram has recently announced the ongoing development of analytical tools that brands could use in order to extract data from user engagements and in turn use for ad targeting. Following in parent-company Facebook's footsteps with regards to the notion of the platform increasing in shopping and ad targeting capabilities, Instagram has already introduced a tool that allows users to bookmark products they come across as they explore and engage within the social network. In order to further develop on this, Instagram product manager Layla Amjadi has stated that another insight tool for advertisers will be released within the first half of 2019. Amjadi told CNBC on Dec 13
This technology is already widely implemented and similarly used on Facebook, as clicks to and from websites are monitored and engagements with certain brands and products also determine which ads you are most likely to come across.
Instagram, like Facebook (since these run on parallel advertising networks with cross-platform capabilities), claims to be focusing entirely on facilitating the user's experience in an attempt to display ads which make sense to the user based on a wide spectrum of very delicate data. In reality, the reason why these ads are so personalised and almost seem to read your mind is through this data tracking and user journey across pages, profiles, posts, and platforms. Through the fine-tuning of multiple sources of data, each user is given different sets of personalised ads likely to convert for brands.
Ultimately, the more brands convert, the happier these are, and the happier these are, the more money they will be spending on ads again. The more money spent on ads, the richer Facebook and in turn Instagram become.
The logic behind it is quite simple once grasped, and provides a clear idea as to how and why data is gathered and utilised by brands. Also with companies such as Amazon growing to become one of the world's largest, it has been made quite evident for fellow giants such as Facebook that an e-commerce business model is what works, hence why in my opinion I feel as though we are witnessing the steady rise of the shopping platforms.
"It's a difficult thing to maintain all of the products that have piqued your interests across these multiple sites....that's a problem that businesses told us they personally have and are excited for us to help them solve within Instagram."In a nutshell, the purpose behind this tool being developed is to allow brands to gather data of those users who may have bookmarked a product of theirs at any point while on the platform. This would allow the brand in question to follow-up on this interest with an advertisement which could likely convert into a; sale; enquiry; or booking (the objective depends on the sort of campaign the brand is running on that specific advertisement).
This technology is already widely implemented and similarly used on Facebook, as clicks to and from websites are monitored and engagements with certain brands and products also determine which ads you are most likely to come across.
Instagram, like Facebook (since these run on parallel advertising networks with cross-platform capabilities), claims to be focusing entirely on facilitating the user's experience in an attempt to display ads which make sense to the user based on a wide spectrum of very delicate data. In reality, the reason why these ads are so personalised and almost seem to read your mind is through this data tracking and user journey across pages, profiles, posts, and platforms. Through the fine-tuning of multiple sources of data, each user is given different sets of personalised ads likely to convert for brands.
Ultimately, the more brands convert, the happier these are, and the happier these are, the more money they will be spending on ads again. The more money spent on ads, the richer Facebook and in turn Instagram become.
The logic behind it is quite simple once grasped, and provides a clear idea as to how and why data is gathered and utilised by brands. Also with companies such as Amazon growing to become one of the world's largest, it has been made quite evident for fellow giants such as Facebook that an e-commerce business model is what works, hence why in my opinion I feel as though we are witnessing the steady rise of the shopping platforms.
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