Instagram announced today that starting immediately, brands can now use the platform to run Canvas Ads, the popular, fast-loading, full-screen, immersive experiences first pioneered on Facebook. Brands love Canvas Ads because they take over the most valuable advertising real estate in the world: the full mobile screen. Consumers love Canvas Ads because they are opt-in, custom-built experiences that feel nothing like annoying pop-up ads.
When Canvas Ads launched on Facebook a year ago, Likeable’s clients, who were early adopters, achieved dwell times upwards of 60 seconds. As more brands started trying out the format, we saw dwell times drop, averaging around the 30-second mark. While lower, those dwell times still vastly exceed the guaranteed 3 seconds for a video view.
For these reasons, we are extremely bullish on Instagram Canvas performance, specifically for brand awareness objectives. As we saw with the Facebook launch, we believe brands who jump on this opportunity in the next 2-4 weeks will see a lift in results as fewer advertisers are utilizing the format.