The one where big business helps small…
Facebook had a big week: It stepped into the ecomm lane with a new feature called ‘Shops’; it acquired Giphy in a move to build out its Instagram Story GIF library; and it also expanded its testing of mid-roll video ad placements. Now for some non-Facebook news… if you’ve ever wondered how the TikTok ad platform works, we’ve got some info about that as well. Read on for this week’s paid social review…
Facebook Steps Into Ecomm with ‘Shops’
In a livestream on Tuesday, Mark Zuckerberg announced the launch of ‘Shops,’ a new feature on Facebook and Instagram designed to help small businesses create free storefronts on these two platforms. The stores will be powered by third-party services such as Shopify. And the hope is they’ll transform Facebook and Instagram into shopping destinations to help small businesses survive and thrive during these uncertain times. Read more.
Facebook’s Latest Acquisition: Giphy
Facebook purchased Giphy, the GIF platform, for a yet-to-be-confirmed (but sure to be ginormous) sum. Under Facebook’s ownership, much of the Giphy team will roll into Instagram, where the Giphy functionality promises to improve user experience when searching for the perfect GIF for Stories. Read more.
TikTok Ads, Explained
While TikTok is still relatively young compared to other major social self-serve ad platforms, like Facebook and Google, their ad rank algorithm functions similarly, giving the best ad slot to the highest bidder with the quality ad. TikTok’s ‘edge’ is the community it cultivates through features like the sponsored challenge ad format. Read more.
Mid-Roll Ad Placements on Facebook
Facebook is now testing mid-roll ads on all forms of in-platform video content, expanding its earlier test that limited the placement to livestreams or original Facebook video content. These new mid-roll ads will be unskippable for the first five seconds before prompting users with a skip button. Read more.