Global economic situations are getting worse day by day. Companies are looking for new ways for generating revenues. For digital companies, one way to earn revenue is via ads. In an effort to support the ad business, the social media platform Instagram is going to test two new experimental ad formats. One ad format will be presented in the search results and another in the Reminder Ads. In this way, companies will have more chances to promote their products and services.
Ads in Search
Such a feature will enable companies to display their ads to users who search for particular stuff on the app. It could be a product, business, or content. Let us understand this by an example. For example, if a user search for ‘Galaxy S23’ on Instagram, a sponsored post could appear in the feed along with the actual search results. As soon as the company completes the testing of this new feature, it will be rolled out to users globally.
Reminder Ads
Such ads will enable companies and businesses to either announce, remind, or notify users about their forthcoming events and product launches. As a result, users who choose Reminder Advertising for a certain event will receive notifications from Instagram one day before, 15 minutes before, and at the start of the event. Such notifications will be shown in a similar pattern to other Instagram notifications
Meta move forward toward increased ad revenue
Well, this is no secret that Meta is aiming at ad revenues given its new strategies. Since a report from Q4 2022 indicates that Meta suffered a loss in ad revenue from $32.6 billion to $31.2 billion. It was reportedly, a YoY ad revenue loss from $114.93 billion in 2021 to $113.64 billion in 2022.
The company states that the decline was a result of weak ad demand that is posed by a volatile macroeconomic landscape. Meta hopes that it could combat the current economic crisis with these new moves. Well, how users will react toward these new ad formats remains to be seen. Whether or not such steps help Meta enhance its revenue or not. Things will definitely unveil better with time.
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