Instagram are adding business profiles so that businesses can gain insights into their pages, audiences and access extra tools pinpoint their audiences.

Instagram accounts registered as a business will soon be able to use tools to measure engagement and promote their posts more specifically. The update will introduce two new free tools: Insights and Promote.

With the Insights tool businesses can view the reach and performance of their posts, keep up to date with followers, and even learn what times of day are best to post depending on the audience. Understanding your audience is crucial to creating content that your followers care about, and making sure that you reach them.

Promote allows businesses to fine tune their posts to reach specific target audiences, add call to action buttons, and select a time period for promoted posts. If you can’t be bothered with the fuss Instagram can help you automatically promote posts.

Over 200,000 companies use Instagram’s picture and video based social media platform. With over 300 million active monthly users the Facebook owned platform is incredibly popular and has a large, diverse audience that companies can tap into. CEO and co-founder of handmade accessory business Jackson and Hyde, Genevieve Monroe said to Instagram: “Instagram has been critical for brand exposure, dialogue with new and potential customers and being discovered by partners and retailers.”

In their announcement post, Instagram said: “With so many companies using Instagram, and many people on the platform interacting with them, there was a desire from our business community to do more. So we listened . And, after hundreds of interviews with businesses, three key needs became clear – Stand out, get insights, and find new customers.

Business tools and profiles will be introduced across the US, Australia, and New Zealand over the coming months and will be available worldwide by the end of the year.