A spokesperson from Facebook confirmed to Inside Facebook that they’re testing a new advertising model for their Sponsored Stories. This new model, which is being tested to selected advertisers, integrates Open Graph action to Sponsored Stories. Brands are now allowed to sponsor an advertisement when a user listens, watch or read their offerings. This move may be in line with Facebook’s goal to encourage businesses to create more social ads.
Open Graph Activity Ad Targeting
With the inclusion of Open Graph action to Sponsored Stories, this move complements Facebook’s Open Graph activity ad targeting. Prior to this advertising model, advertisers could only turn a user’s action done on their page, apps, and local business places into Sponsored Stories. In turn, it excluded advertisers whose content were conducted on third party platforms.
Now, a recording artist can sponsor a story when a user listens to his or her song on Spotify. This advertising model also opens a wider avenue for more advertisers to expose their link on Sponsored Stories. This let them reach users who’ve read, listen, or watched a traditional ad.
Is it Worth it for Advertisers?
Although the new ad model sounds promising, few brands might find it worthwhile. That’s because it has a limited scale and vague return on investment. Another thing is that advertisers want to have more control on their campaign and to understand its results. Unfortunately, Sponsored Stories doesn’t have these features. It makes little sense that a recording artist has to pay for a Spotify listen ads when they can’t get any data from a Sponsored Stories. Regardless, this shows that Facebook is few years ahead when it comes to monetizing their network.
In other words, Facebook is definitely developing an interesting ad model. However, it will take years before they can encourage businesses to test the waters of an Open Graph action-based Sponsored Stories. Moreover, the social media giant must enable brands to customize their ads and get insight to track its conversion rate. And to top it all, they will also need a flexible budget.
An Open Graph action-based Sponsored Stories is deemed by Facebook as the future of its ads business. Instead of giving irrelevant pitches, they’re targeting ads based on a user’s actions. This could only mean more relevant ads for Facebook users, additional conversion rates for advertisers, and more stream or revenue for the social media giant. Needless to say, they should provide a program that will convince advertisers that it’s better than traditional ads.
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