Digital advertising platforms are constantly evolving to better serve marketers and help drive meaningful impact. Here are five recent updates to mainstream social/digital platforms that will impact current and future strategies and spends on these sites:
1. Instagram ad platform coming soon
As soon as Facebook bought Instagram in 2012, we began wondering about and discussing how they’ll facilitate advertising in the image-centric feed. It currently costs around $250,000 minimum to run a campaign, but that’s changing soon with the introduction of self-serve, no minimum ad options through Facebook’s Power Editor. Come this Fall, marketers with varying social budgets can begin experimenting with photo, video and photo carousel formats in addition to new calls to action, including app installs, driving to a landing page for more information, sign ups and e-commerce.
2. Twitter introduces Ads Editor
This week Twitter announced a new Ads Editor feature for their self-serve advertising platform. The Editor streamlines campaign creation and management by giving the option to download campaigns as Excel spreadsheets, make edits directly within the spreadsheet and upload back to the platform for easy editing. Until now, editing Twitter campaigns was a more laborious, web form-based process involving multiple steps. According to the announcement, Ads Editor is expected to roll out globally to all advertisers over the next few weeks.
3. Pinterest engagement campaigns
Last month, Pinterest announced the availability (U.S.-only for now) of promoted pin campaigns optimized for engagement. These campaigns are based on a cost-per-engagement (CPE) model, charging advertisers for each closeup, repin or click on promoted Pins. They also rolled out an update to their ad platform called Pinterest Ads Manager, which provides topline performance stats across current campaigns and suggestions to optimize Promoted Pins.
4. Facebook updates CPC definition
Along with their latest API release last month, Facebook communicated a change to their definition of cost-per-click (CPC) on the platform to only account for “link clicks,” including clicks to a website, calls to action, app installs, Facebook’s canvas apps or viewing a video on another site. Until now, CPC included any click within an ad unit, including likes, comments, shares, clicks to other sites and the like. According to the announcement, the CPC definition was changed to allow advertisers to better optimize campaigns against specific business objectives and campaign goals. The change will likely cause an initial increase in CPC and a decrease in click-through rate (CTR), though the results will be more valuable to those intending to drive link clicks and not general engagement (likes, comments and shares).
5. Yelp switching from display to native
Following reports from their CFO that its display ad business hindered growth last quarter, Yelp announced intent to sunset its display ad options by the end of 2015. According to MarketWatch, the review site will now focus on a “promoted post” format from businesses on the site, similar to Facebook and Twitter’s native social ads.
Image credit: Brady