Stories is one of the most interesting and important product at Facebook. I often make sure my clients have a clear understanding of stories while I run their facebook ads.
Facebook’s investment in the platform was evident during Facebook’s third-quarter earnings call at the end of October 2018, an interesting and transparent call with investors CEO Mark Zuckerberg name-dropped multiple competitors and admitted that Facebook has had trouble building a business around some of its core features, like video and private messaging.
Stories, the ephemeral photo and video posts that Facebook copied from Snapchat, was mentioned continuously throughout the hour-long call — a total of 71 times, according to the call transcript. This is something to take note of! Zuckerberg is not the sort of guy who wastes his breathe with useless works.
Stories has been a huge hit inside of Facebook’s apps, especially Instagram. Zuckerberg even said that people will share more to Stories than they will to Facebook or Instagram’s feeds in the “not-too-distant future,” making Stories one of the most dominant ways that people share photos and videos online.
“I just think that this is the future,” Zuckerberg said. “People want to share in ways that don’t stick around permanently, and I want to be sure that we fully embrace this.”
There is a problem with Facebook’s obsession with Stories, though: The business isn’t there yet, which means that as users turn their time and attention to Stories, and away from the feed, Facebook is scrambling to build a business that can capitalise on that shift in attention.
“This happened very quickly. This whole trend has been — is much newer than the trend with News Feed and feeds overall,” Zuckerberg said of the user adoption.
On the monetisation front, Zuckerberg was blunt. “We’re earlier in developing our ads products for Stories,” he said. “We don’t make as much money from them as we do from feed ads.”
Facebook has talked about this before, but the interest in Stories has never been so high. Part of the reason is that Facebook has said for years now that it’s looking for places outside of the core feed to sell advertising, something that is particularly important given that Facebook isn’t growing as quickly as it has in the past.
So how can we as businesses utilise this platform? I recommend having key colour blocks you use regularly on your stories to write your key information and I can’t stress enough how important it is to include personal information on your stories, from your dog to where you are having coffee to appeal to Facebook’s new mission for authentic connections