Facebook: No More Sponsored Stories
January 14, 2014
Marketers have long been trying to use Facebook as a means to elevate their reach to its target audience. It’s been ups and downs for the giant lately, balancing norms with needs. Sponsored stories have been one such blotch for Facebook with the brand having to settle lawsuit claims at $10 million.
The Present Scenario
Presently, the concept with sponsored stories was that they could convert into ads on one’s newsfeed section (right hand corner), once you liked or clicked on the story. Marketers pay heavily for such stories hoping that the audience will click on it and therefore add to their credibility and branding. However, users started finding these stories disturbing. Additionally, when someone happened to like a story or page, if at all, it would start featuring it on their timelines as posts using their names and profile pictures. Consumers took this to be intimidating which eventually lead to the lawsuit.
Facebook has now decided to make amendments in the modus operandi. It specified that page ads would automatically be featuring likes and comments. Social_prefs=['allow_shares'] can be used in the adgroups for sharing social context additionally. However, open graph and domain sponsored stories will no longer be allowed post 9th April 2014.
The social networking giant said that they have been predominantly focusing on streamlining of their advertizing campaigns of late. Their last years focus was on making ads look unique and therefore asking marketers to eliminate ads having similar purposes. Purchase of sponsored stories was also curbed substituted by ads being shown on newsfeeds using names of people who have liked them. This year however, the concept of sponsored stories was ruled out completely. Marketers have been informed beforehand so that they update their ad tools accordingly.
Conclusively, marketers need to refresh their adgroup tools and rethink their Facebook marketing strategies again. With 9th April 2014 round the corner, the clock has already started ticking!
Think the current ad settings change will affect marketers adversely? Or is it a change for the good? How do you think your ad will be affected? Post your takes on this.