Guess what Facebook friends? Our beloved Facebook newsfeed is changing once again. Facebook is holding an exclusive event at its Menlo Park headquarters to show a new and improved version of its “News Feed.” I can hear the moans and groans across the Internet now! Just remember, we don’t pay for Facebook, so we can’t complain too much.
I’m sure everyone knows what a newsfeed is, but just in case you’re one of the 6 billion people on the planet that don’t have Facebook yet, the newsfeed appears on the homepage of Facebook and it includes status updates, photo albums, videos, check-ins and news stories.
According to the Business Insider, the update will include a lot more video and larger pictures. Their prediction is based on a conference call Facebook had with Wall Street Analysts on January 30, 2013 to go over their fourth quarter earnings report (yikes). Facebook CEO Mark Zuckerberg told analysts about how well Facebook ads were performing, particularly in the newsfeed. He went on to say that these ads will get even better when Facebook can do more with different kinds of media, hence the video prediction. Facebook recently launched passive location logging app marketing as well. Mark is definitely keeping those engineers busy!
What does this mean to the average user? Get ready to see more video ads on the homepage of your Facebook account. Advertisers are willing to pay a pretty penny for video time on our beloved social network. As always, Facebook will show you ads that it believes you’ll be interested in.
If your business uses Facebook for marketing purposes, you should be very excited for this development. You’ll be able to use video to tell your customers and potential customers stories about your business, and better build your brand. Remember, advertisers have been paying millions of dollars for TV commercials for over 60 years. Do you think there’s a difference between TV commercials and these potential Facebook video ads?
There’s one thing holding Mark back from creating Facebook video ads right now and he claims that it’s “product design”. In other words, Mark doesn’t want to turn people off with video ads they’re used to seeing video in the newsfeed from brands they like and friends. This is what Mark had to say on the topic:
Historically, advertisers want really rich things like big pictures or videos, and we haven’t provided those things historically. But one of the things that we’ve done in the last year, as you’ve seen, the organic News Feed product that consumers use are , moving towards bigger pictures, richer media, and I think you will continue to see it go in that direction. And then, I think a lot of the success of products like Instagram is because of that. It’s very immersive even on a small screen, it’s a wonderful photo product, and when you have those form factors for the content that gives you the ability to offer those form factors for advertising as well. So I think you see the trend there in terms of where it’s going and that’s just naturally going to make it, so we can deliver much more engaging advertising experiences than we were traditionally able to do and when we didn’t have those types of content in the system.
What do you think?
How much would you pay for a video ad on Facebook? As a personal user of Facebook, would video ads turn you off? Please feel free to leave your comments below.