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Facebook introduces new types of ads on Instagram and Messenger

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Posted: Tuesday, October 4, 2022. 10:02 am CST.

By Zoila Palma Gonzalez: Social media giant, Meta, Facebook’s parent company is introducing new types of advertisements on Instagram and Messenger as revenue sees a downward trend, CNBC reports.

On Monday, Meta introduced a new way for advertisers to display ads on Instagram’s explore page, which shows content to users based on their preferences and routines.

Content can also be shown on the profile pages of Instagram influencers with whom the companies have deals.

On Messenger, Facebook is launching a tool that uses machine learning software to show ads intended to “reach people who are most likely to make a purchase,” said Maz Sharafi, Meta’s vice president of marketing and growth for business messaging.

The announcement comes just weeks before the company releases its 3rd quarter earnings report, which is expected to show a second straight period of declining revenue.

Meta has seen rising competition from TikTok and the company’s stock has lost close to 60% of its value this year.

According to the report, one of Facebook’s top challenges has been its hefty investments in its TikTok competitor called Reels, because there isn’t yet an established ad format for short-form, viral videos.

 

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