Upgrading and streamlining ad formats has been the focal point for Facebook, Pinterest and Instagram these last few weeks. Facebook is testing a new ad format that displays content from multiple advertisers in a single ad collection and has updated its branded content tag to improve transparency. Pinterest has finally created a carousel ad format and Instagram has released a way to promote Instagram Stories content. Learn more below about these ad format updates!
Facebook Tests New Ad Which Showcases Products from Multiple Brands in One Unit
- Facebook is testing a new ad unit which displays content from multiple advertisers within a single ad collection. While it’s not clear how this new promotional unit will work in relation to cost, participation, or control, this test combines recommendations from different advertisers into a single experience. A Facebook product marketing manager noted they will “evaluate if it creates value for people and businesses before deciding whether to expand it” and release the offering to the greater public. With discovery on platforms becoming more visible on platforms such as Pinterest or Google Shopping, it is not surprising that Facebook is searching for a way to expose more people to ads on its platform.
- What it means for brands: While this kind of ad could potentially reduce cost per impression of ads and increase exposure, Facebook hasn’t outlined how opting into the ad format would be set up. As of now, it is still framed as promoted product recommendations, which could be beneficial for additional exposure surrounding similar products or companies. With new ad recommendations sizes for Facebook taking up more real estate on the app as squares instead of rectangles, sharing the screen with another product might be beneficial. While brands are still waiting on more clarification, this type of ad could assist brands in additional awareness and possible conversions.
Updates to Branded Content Tool on Facebook
- In an effort to increase transparency in ads, Facebook released three new updates to the branded content tool. The first update is to the tag itself, from “Paid” to “Paid Partnership” and it now allows users to learn more about the two tagged pages and the partnership by clicking on the new “About This Partnership” icon at the top right of the creative asset. Secondly, Facebook is currently testing the ability for Pages to tag one another for collaborations and other “non-financially motivated relationships”. For example, a “musician could tag a collaborator on a song or a team could tag an athlete” within the post. Facebook plans on rolling this out in early 2019. Lastly, Facebook updated the Brand Collabs Manager, a tool to help brands find creators to collaborate with on Facebook, with a new feature to enable brands to post “marketing project briefs” to which interested creators can respond.
- What it means for brands: As influencer marketing continues to thrive within the pharmaceutical and biotech space, it is becoming increasing clearer and easier for influencers and brands to work together on social media. Influencers can boost brand awareness and drive action in a way that the healthcare brand itself can’t do on its own, so it makes sense that Facebook is working to ensure that the partnership is known the users and what the endorsement actually means. With the Federal Trade Commission reminding social influencers to use “#ad” or another signifiers to denote a sponsorship, the branded tool on Facebook continues to make the notation easier for healthcare companies and influencers alike.
Instagram Releases “Promote for Stories” Feature
- Instagram has released additional information about a new feature allowing Instagram stories to be promoted. This update allows organic stories that would be posted to the Instagram profile to be promoted to automatic (Instagram automatically targets people similar to your followers), local (the brand can select people in a specific area to target) or manual audiences (the brand can select people, places or interests to target). Brands will have to the option to drive people to their Instagram profile or their website. This new promotion will work similarly to Facebook’s “Boost” option that lets brands pay to instantly show their page posts to more users.
- What this means for brands: With over 500 million daily active users on Instagram Stories, the ability to promote an organic Instagram Story can lead to more people engaging with content from an account. As video continues to be a vital component to any social strategy, this new feature allows for the thoughtful story content to be promoted off the app in real-time, instead of separately going through ads manager. This format could be helpful at medical meetings, when Instagram Stories content with the meeting hashtag could drive people to a specific brands booth with an engaging story of the booth itself.
Pinterest Introduces Carousel Ads
- This month, Pinterest released a new ad format to allow for up to five images within one carousel ad. Currently, the format is available to brands looking to increase brand awareness, traffic or conversions. Similarly to Facebook and LinkedIn, Pinterest is encouraging brands to use carousels to display different features of a product, showcasing multiple items in a singular pin, or creating a brand story. For examples during the launch, Pinterest gave early access to brands like COVERGIRL, DSW, and REI. With carousel imagery becoming popular on other social platforms, Pinterest is the latest to create a seamless way of integrating caorusel images into the main feed, as the ad looks like a normal Pin with grey dots underneath and scrolling in stream or as full images.
- What this means for brands: With Pinterest focusing on the aesthetic of photos and compiling them into distinctive boards, brands can use this new feature to truly drive home their story with high quality images that really bring together the larger point. Carousel ad formats add interaction with swiping, which engages the users more than an average static ad. Brands who market on Pinterest can use this new feature to showcase a patient story or go through helpful tips and tricks for living with a disease.
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