Snapchat parent company Snap, Inc. alerted investors to the likelihood of decelerated growth in its most recent quarterly earnings report. This news followed the debacle with Facebook over data access and user privacy.
All of this attention on publicly-owned social media companies illustrates the pressure these businesses face to increase revenue, which contributes to constant enhancements in paid social advertising opportunities. With that in mind, the following is an overview of the five best paid social updates of May 2018.
1. Snapchat plans to test unskippable six-second ads in the middle of the month.
Snapchat plans to tackle its financial obstacles by testing short, unskippable ads over the coming weeks. This type of format offers advertisers the ability to deliver a quick-hitting message that users cannot exit. Despite this advantage, similar formats have produced limited results on other platforms. Even if the ads play, it is still challenging to get users to pay attention. Hopefully, for Snapchat's sake, this move will pay off on the heels of its recent redesign that resulted in 1.2 million angry petition signers.
2. Instagram Stories Ads will now have carousel card capability.
Following the success of the beautiful carousel ad units on parent company Facebook, Instagram is going to offer carousel card capabilities within its Stories ads. In addition to amplifying the presentation and likely increasing user interest, companies can benefit from the same low cost-per-acquisition achieved with Stories video and static image ads.
3. LinkedIn announces Sponsored Video Ads.
The video era is in full force. Despite moving slower than social network peers, LinkedIn has finally decided to leverage the popularity of video with upcoming Sponsored Video Ads. One reason for the addition: The company indicates that its members spend three times more time consuming video ads than static sponsored content.
This new video ad feature is especially powerful for B2B providers looking to deliver powerful demonstrations and testimonials to the large number of decision-makers on the platform.
4. Facebook announces new Automated Rules.
Automated ad management is an important feature for a business that doesn't have a dedicated team to monitor ad performance throughout the day. Automation also enables leaders to put strategy into practice without concern about frontline mistakes. To highlight the value of automation, Facebook has enhanced its Automated Rules.
The updated rules include the ability to automate ad execution based on new metrics and conditions, new actions and new features. Program your ad delivery to adapt based on timing mechanisms, cost-per-acquisition, budget and more.
5. Pinterest lets you add more than one website to your ad dash.
In an effort to compete up with other social networks, Pinterest now offers advertisers the ability to engage more customer segments with multiple profile domains. A lot of advertisers have been frustrated by missed opportunities because they couldn't lure intrigued users to a targeted, relevant website based on particular traits or interests. This update increases your reach and engagement with Pinterest ads.
These are five of the most impactful changes to paid social at present. Staying on top of your options and identifying opportunities to improve ROI is critical to advertising success!
For more insights on paid social, download our Ultimate Guide to Scaling your Facebook Advertising!