Will Facebook's Premium Ads Be a Game Changer?
Can Premium Ads redefine advertising and keep Facebook on top?
Can Premium Ads redefine advertising and keep Facebook on top?
The most successful brands on Facebook share a common trait – they’ve figured out a way to connect with users around a shared interest or passion. They build upon that foundation and success by creating unique and engaging content, encouraging conversations, and adding value. While “likes” can build quickly through word of mouth, they are often accelerated through the integration of the brand’s Facebook address across all key touch points and via promotions and advertising to Facebook’s more than 126 million active users in the U.S. and Canada. Therefore, it should come as no surprise that Facebook was the U.S. display advertising leader for the second straight year according to eMarketer, with $1.73 billion, followed by Google and Yahoo. But with Google nipping at its heels, Facebook is once again looking to change the game, and it starts this month with the launch of Premium Ads, its new ad format.
Facebook’s Premium Ads, announced officially at Facebook’s “fMC” confab on February 29, combines the strengths of Facebook (where connections, conversations, and community flourish) with the triad of marketing disciplines (paid, earned, and owned media so central to every leading brand’s media strategy). Premium Ads not only puts a brand’s page and relevant post in front of the right audience, but it leverages an individual’s connections, i.e., “social context” to amplify its relevance and trust. The result, according to Facebook’s internal testing, is expected to delight advertisers. Specifically, according to Facebook, Premium Ads are:
Source: Facebook Premium Page Post Ads Guide
Expectations are so high for the new format that many new and established social media players are rushing to support the new ads. Forbes.com recently highlighted several social media players scrambling to buy, build, or partner to support Premium Ads. Featured players included Buddy Media’s acquisition of ad buying software company Brighter Option, Wildfire Interactive’s integration of Adaptly’s ad buying technology into its platform, and GraphEffect’s new feature enhancements designed to recommend new target audiences and help brands identify and optimize the most valuable engaging content to feature into Premium Ads.
So if you’re a brand that’s established a strategy and been fairly successful at engaging your community, what should you do?
Will Premium Ads redefine advertising and keep Facebook on top? Well, if the influx of new solutions combined with the promise of combining paid, earned, and owned media with a double-digit lift in performance is any indication, the answer is yes.