And, just like that, Instagram ads have gone from an experiment for elite brands to a new tool available to all companies. Yep, Instagram has rolled out its new advertising platform for most brands.

How the introduction of ads will affect the organic reach and engagement of the Instagram community stands to be seen. For now, though, early-adopter brands are reaping the benefits of being one of the first to try Instagram ads.

Instagram has more than 300 million users worldwide, and they "like" more than 70 million photos every day. Ads are another way to connect with more Instagram users.

Scroll below to learn everything your company needs to know about Instagram's new advertisements.

Do Instagram ads work?

While Instagram ads are new to most businesses, select brands have been testing ads out for more than a year.

One of Instagram's case studies for advertising was Ben and Jerry's. By advertising on Instagram, the ice cream company reached 9.8 million users and saw a 33-point increase in ad recall. Plus, 17 percent of users became more aware of their new flavor they were promoting.

Read the full case study here.

How much do Instagram ads cost?

Instagram ad costs function almost exactly like Facebook ads do. Your brand pays per click, and you can set a fixed price or have it be flexible.

So far, the cost of Instagram ads varies from advertiser to advertiser. Early figures show most brands are paying between $3 and $6 for 1,000 views. A handful pay as little as 2 cents.

To learn how much Instagram ads will cost for your business, you'll have to test and learn. Then, be sure to share your experience in the comments section.

How do you set up an Instagram ad?

This is a simple six-step process:

1. Log into your Facebook Business Manager account. Or, set one up if you don't already have one. Now, you have to connect your Instagram account. So, select "Instagram Account" from the "Business Settings" drop-down menu. "Claim New Instagram Account" by entering your brand's Instagram username and password. Voila! You'll manage your Instagram ads through your Facebook Business Manager moving forward.

2. Go to Facebook's Power Editor to create your first Instagram ad. Click "New Campaign" and for placement, select "Instagram." If you don't see this option, you don't yet have access to Instagram ads. Keep checking back or reach out to Facebook to see when you'll get it.

3. Upload an image for your Instagram ad that's 1,200-by-1,200 pixels. Choose a photo similar to ones that have performed best on your brand's account. See what images perform best on Instagram here.

4. Choose your call to action — the most important part of the ad. These are the same as Facebook's CTAs, so you should already know them well.

5. Segment and target your ad. Instagram has all the same targeting that Facebook does. So, you can really slice and dice who sees your ad to reach your target customer.

6. Step back and admire your first Instagram ad. By advertising now, you'll be leading the pack — and undoubtedly beating out your competitors.