Facebook announced at its AdWeek event on Tuesday that it has hit the milestone of serving 4 million advertisers, adding 1 million advertisers in the past 6 months. COO Sheryl Sandberg cited the explosion in video ads and small business advertisers as key sources for growth. Facebook also expressed regret over the error that caused its reporting tool to inflate the average view time on marketers’ video ads, which the company disclosed last week.
In related news, the Menlo Park-based company also introduced two new features to its fast-loading, full-screen mobile ad unit Canvas ads. The social network is adding support for 360-degree videos to Canvas ads, which already support most rich media formats. Brazilian bank Itau has been testing the feature. Facebook is also letting advertisers link one Canvas ad to another, thus enabling brands to create a multipage experience to engage with users. Beats by Dre used the link feature to let people explore multiple Canvas ads that showcase its headphones in different colors.
What Brands Should Do
It makes sense for Facebook to add 360-degree video support in Canvas ads, as it fits perfectly with the focus on interactive rich media. And as long as video ads continue to drive ad revenue growth on Facebook, brand advertisers can expect to see video ads popping up in more of Facebook’s products. The two additions should help brand advertisers tell a more immersive and in-depth brand narrative with Canvas ads.
For more on how and why brands should consider Facebook’s Canvas ads, click here to read our Fast Forward analysis on the ad product.
Source: CNBC & AdWeek
Facebook launched Canvas ads in late February, enabling brands to extend the fast-loading speed they get with Instant Articles and rich media support to their mobile ads. Starting Tuesday, the social network is also allowing brands to use the interactive format for organic posts on their Pages. Canvas posts can include text, auto-playing videos, photo carousels, and even panoramic photos. According to Facebook, users have spent 31 seconds on average in a Canvas ad since the format’s launch.
What Brands Need To Do
By making Canvas widely available for Page owners without requiring ad buys, Facebook is no doubt trying to lure more brands into trying out this relatively new ad format so that they will be convinced of its advantages for ads, too. For brands, the extended availability should come as a welcome tool that they can leverage to create fast-loading, rich media content on Facebook to fully engage with their followers.
For more information on how and why brands should try out Facebook Canvas, click here to read our Fast Forward analysis on the ad product.
Source: Marketing Land
On Thursday, Facebook officially launched Canvas, an ad product that loads full-screen rich media right from the news feed, bringing a faster, cleaner mobile experience pioneered by Instant Articles to ads. Facebook started testing this immersive full-screen ad unit last September, and the company says early tests have shown users spend more time on Canvas ads, with the top Canvas ads gaining over 70 seconds of view time per user.
Facebook is also offering brands a straightforward self-serve tool to help brands build Canvas ads with no coding required, allowing brands to add interactive rich media like animations, carousels, product catalogs, tilt-to-view images, and videos to their ads with ease. Different versions of a Canvas ad can be targeted to different demographics, just like regular Facebook ads.
What Brands Need To Do
Facebook made Instant Articles available to all users last week, which means Facebook users will soon be served with a lot of Instant Articles-enabled pages, familiarizing them to the fast-loading experience. And they will soon start to expect a similar experience when it comes to Facebook ads as well. Therefore, brands should take the initiative to use Canvas to create rich-media ads that work best on Facebook’s mobile app.
Header image courtesy of the Facebook Canvas site