Stories and Glories

Instagram, Snapchat, and Facebook. This trio of social media powerhouses have been involved in advertising since their start, but there’s something they all have in common; this feature is changing advertising as we know it- stories.

Snapchat was the first platform to introduce stories, with Instagram and eventually Facebook following suit. Brian Finnerty, Director of Marketing for Marin Software said, “During its Q3 2018 earnings call, Facebook reported that more than 1 billion Stories are shared daily across Facebook, [and] Instagram…” That’s a lot of stories, and more importantly, opportunity for businesses.

Stories and Live Streams are constantly being posted, especially by social media influencers. We’ve all seen the Kardashians promoting Sugar Bear Hair time and time again, leading to Sugar Bear’s takeover of the vitamin industry. For influencers with a powerful presence, enlisting them for a single ad can be incredibly expensive, especially for a small business with a smaller advertising budget.

According to Business Insider, Kim Kardashian charges 300 to 500 thousand dollars for a single sponsored post. While influencers, even the smaller ones, can be vital to introducing brands to a large and diverse market, the advertiser’s focus should be on the moments in between story posts- ad breaks. While Snapchat has mandatory ads which are highly effective, it’s important to note that through its counterparts (Instagram and Facebook), potential consumers can tap right through ads.

To effectively use this advertising space, content must be attention grabbing- from the very first millisecond. If a business can pull off an advertisement of this capacity, the return will be well worth it. Lyfe Marketing concluded that 1/3 of Instagram users alone used the app to purchase a product, making them 70% more likely to do so than non-Instagram users. Imagine all of the new loyal customers that would’ve never even heard of a particular brand without this exposure. Currently, Instagram has over a billion active users, meaning 333,000 individuals have made purchases through these social media advertisements. It would be highly beneficial for brands to recognize social media as the advertising tool it is, and to look into enlisting its aid.