Facebook Courting TV’s Market with Video Ads
Finally, the day has come when the biggest social network of the world released its long-awaited feature of video advertisement. The primary purpose of the social network for making this move is to diversify its revenue by taking advantage of the television-marketing budgets. It was in December when Facebook started testing the 15 second spots, but were delayed several times. These ads will be offered to select partners in the US. However, it will be late April or early May when the promotions will eventually be rolled out to the users of the social network. Two other new features are also being tested by the Menlo Park, California-based company, which can be applied to the ads by the marketers.
The first feature is to schedule the times of the day when the video advertisement will appear and the other feature is concerned with setting the frequency and reach of the promotion. This news was provided by the Vice president of ads product marketing of Facebook, Brian Boland. The social network said that it doesn’t plan on increasing the frequency of the ads, but it is attempting to bolster the lineup of its ad product because it wishes to charge a little bit more for higher-quality promotions.
With this introduction of video advertising, the company is to go after the lucrative television-ad market. This is due to the fact that reports have revealed that marketers plan to spend a lot more on advertising on TV rather than on digital media. Therefore, it doesn’t come as a surprise that Facebook is attempting to improve the quality of its advertisements and is also bringing a change in the approach it uses for introducing products. Previously, the company had followed the move fast philosophy when it came to introducing ads, but it decided to take its time when introducing video ads.
This is because it wished to avoid introducing something that would become a disruption for users. Furthermore, since last year, Facebook has also started streamlining its ad offerings and it has become easier for people to manage and measure them. Boland said that they had previously shipped things quickly to see what would happen in the market, but they wanted to do it right this time around. The video advertisements will last for 15 seconds and are similar to TV commercials and will also be sold in the same way i.e. targeting a limited gender or age group.
The price of these advertisements will vary between $1 and $2.5 million per day, according to people familiar with the matter. A Facebook spokesman said that the video ads will not be seen by the users in their newsfeed more than thrice a day. Also, it is said that Facebook will be using the services of a video-advertising evaluation company to ensure that the material of the ads is of high quality before they are able to reach the final user. People have said that Mark Zuckerberg was heavily involved in the development of these video ads.