Stories, the evolution of social media from posting text updates to short video content before the likes of Tik Tok. Copying the format from Snapchat, stories quickly became a popular method for users to keep in touch and another avenue for posts to take shape. In 2018, Instagram stories were reported to be twice as popular than their predecessor on Snapchat. However, when scrolling through stories, they seem to be plagued with advertising after every other story. What makes these ads so prevalent in the format? The answer is simple, it is simply effective.
A newer way to reach targeted customers on Instagram, stories from businesses make up a third of the top viewed story content. On Facebook, stories create ad recall, brand awareness, and purchase intent that is on par with ads on the feed and Instagram story ads. On Messenger, 51% of stories users utilize the platform exclusively due to the ability to share with connections on the platform.
The numbers don’t lie. According to Instagram parent company Facebook, stories are utilized by over 500 million people posting over one billion stories each day. As of January 2020, Facebook has seen four million advertisers utilizing stories monthly to meet their objectives. People aren’t as used to being advertised on the format and thus aren’t as subliminally likely to tune these ads out like many sponsored posts.
Benefits of Instagram Story Ads
Stories offer a glimpse into the lives of others, giving depth beyond the day to day bubbles. According to a recent data survey, within the US, 73% of users have stories enabled. The vertical content structure provides a nice break from the typical and thus increases immersion.
Story content allows users to experience a level of interconnectivity previously unparalleled across the digital landscape. 65% of users within the US have agreed that due to stories, they “feel closer and more up to date with friends.”
Social media as a whole has led to a greater sense of the human community. 57% of users within the US state that stories aid in this feeling. Stories are easy to create and filters allow for creative approaches to content.
Utilized on a daily basis
As detailed previously, over 1 billion stories are posted a day by 500 million people per platform. That’s quite a significant amount, and in the future, 62% of users plan to use stories more than they are currently.
Vertical content optimized for the smartphone. A study from 2017 conducted by MOVR showed that smartphone users hold their phone vertically 90% of the time.
How do Story Ads Help Business?
Initiate customer interest
Knowledge is power, and consumers may not know about a certain product or service. A story ad can change that. A quick, brief introduction to a product or service can be the spark needed to push a customer further down the sales funnel.
Stories allow for products and service advertisements to meet deliverables in an efficient manner. As data from Facebook shows, 58% of users browsed a brand website due to story ads. One in two have viewed purchasing options, with 31% have actually converted.
Fast, Authentic, Helpful.
User research states that around half of users want to see story content from brands that are quick and easy to read. Half of users also enjoy seeing the launch of new products through stories. 46% of users also want stories from brands to offer tips and advice.