Instagram is likely to soon launch a new advertising format that allows marketers to target their audiences via Stories, the feature at the top of the app which lets users showcase a story for 24 hours.
The “Promote for Stories” addition resembles Facebook’s Boost function which lets advertisers pay to expand the reach of their campaigns to more users according to TechCrunch.
Although Instagram didn’t reveal details on a time line for the roll out, the addition could already be in testing.
Instagram currently has one billion worldwide users.
The company also just recently added Analytics for businesses based on the popular Facebook Analytics to provide better insights and engagement measures.
Analytics provide insights into who commented or liked an Instagram post, compares the lifetime value of people interacting with Instagram posts, allows clients to segment audiences and helps them understand which audiences overlap.
In addition, the company now allows user to show screenshots of videos posted to IGTV, launching in June by Instagram.