Ever quick to experiment with different forms of monetization, Facebook recently introduced Facebook Stories Ads.
In this post, I’ll discuss the basics of what it is and why it should be on your radar.
Facebook Stories — One of the Hottest Social Media Trends
If you’re at all active on Facebook, you’ve probably noticed the “Stories” section located at the top right-hand corner of your home dashboard. It’s a mini feed that’s continually updated with recent stories of the people and brands you follow.
And it’s catching on quickly. According to Facebook, “More than 300 million people use Facebook Stories and Messenger Stories every day.” This feature provides users with a quick and easy way to stay updated on what’s happening without having to scroll endlessly through the main feed or check individual pages.
And what’s especially interesting to legal marketers is the interest Facebook Stories have sparked in users. “62 percent of people said they became more interested in a brand or product after seeing it in a story, and 38 percent of people said that after seeing a product or service in a story they talked to someone about it.”
It’s also worth noting that some of the major brands that have used this medium have seen a considerable brand lift. So there’s definitely something to it.
Reasons for the Success
Facebook identifies four main reasons why Facebook Stories Ads work so well.
- They’re immersive – 73 percent of people in the US agree stories enable them to experience new things outside their everyday lives.
- They’re authentic – 65 percent of people in the US say stories help them feel closer and more up to date with friends.
- They’re inclusive – 57 percent of people in the US say stories make them feel part of a larger community.
- They’re hard to get enough of – 62 percent of people in the US say they plan to use stories even more in the future than they do today.
A Shift from Traditional Paid Ads to Facebook Stories Ads?
In a recent earnings call, Facebook COO, Sheryl Sandberg said, “We’re proud to announce that we now have 3 million advertisers using Stories Ads to reach customers across Instagram, Facebook, and Messenger.”
With a lower average price per ad, we could be seeing a shift from companies moving from regular feed ads to Facebook Stories Ads. Advertisers have been adopting it at such a rapid rate that it’s actually led to a reduction in the average price per ad — at least for the time being.
And this is something definitely worth noting for legal marketers.
What’s the Catch?
There is, however, one main issue. At the moment, this medium is mainly geared toward major brands with deep pockets. Even though ads are brief, they need to be super high quality and usually require costly visuals from expert producers.
In other words, it’s not something your average person can slap together in an hour.
Therefore, we’ll likely see bigger brands and agencies dominating this space for awhile.
Keep Your Eye Out
While Facebook Stories Ads isn’t likely a medium you’ll want to work into your strategy right now, it’s certainly something to be aware of. As it inevitably becomes more ubiquitous, it could very well be something you’ll want to implement.
And getting on board sooner rather than later should give your law firm a competitive edge. To learn more about it, check out this resource from Facebook.