The war never ends. How Facebook is gearing up for all-round domination.
Innovation is a key to success and who else knows it better than people in #SocialMedia! Facebook is ubiquitous king of Social Media space. But, does the leadership war end there? With three giant products – Facebook, Instagram & WhatsApp in its kitty, anyone would believe that they have established a stronghold in market. Facebook’s immediate competitors are way behind them but game is constantly changing and Facebook is preparing itself for a stronger, deeper and wider stronghold. Let me tell you how.
Facebook recently launched a feature where anyone could see advertisements run by any facebook page. A bold move towards transparency & curbing news propaganda. Move is aimed at bringing more info to users and show them which content is being promoted by which page.
In order to curb fake news, they are also focusing on refining designs of developing news tools, which could showcase many update as part of larger news story. A move aimed at bringing better news browsing experience & showcasing multiple news from trusted publishers in cohesive way.
Facebook recently started testing ‘Dating App’ – an uncharted territory so far. Tinder, are you listening?
Facebook stories have been a flop so far as they’ve failed to spark engagement and users spend more time on the news feed instead. To improve this, Facebook is testing a feature, which would allow users to post links in Facebook stories. I don’t know whether it will increase the stories consumption, but advertisers for sure are looking forward to this new feature.
In an interesting update, Facebook will soon launch a new ad format, designed specifically for airlines & airfare apps, targeting users who search for lights. May be, a new darling for OTAs – a highly competitive category which spends huge amounts on affiliate & display advertising.
Another interesting update is Facebook Watch – a place to discover new videos, save them, interact with creators & their fans. This will fill up a major gap in its race with YouTube. It was really difficult for us to find that good video we saw recently and could never find it again. A well thought approach towards whole video browsing, searching & sharing mechanism.
Instagram too, is expected to offer new cool features very soon. Most exciting so far is its e-commerce venture. With its stand alone shopping app, Instagram will fill the gap which sellers always asked for – a 360 e-commerce experience! Amazon, that’s something you must be aware of.
In it’s already popular feature – Stories – Instagram now lets users add music. Sounds like a small feature, but a better experience for users. Isn’t it?
IGTV – a remarkable push towards ‘vertical videos’ format has received positive responses. I would expect Instagram to push IGTV further to creators and push ‘em to create better content. Soon, they will monetize IGTV as well.
Though, there’s one major area which Facebook needs to address – is better monetization of it’s own platform. The way Facebook reduced it’s own organic reach – Instagram may suffer dramatic reduction in organic reach very soon. And, before it’s too late – brands must leverage Instagram to the fullest.
Let me know if you have come across any new update from Facebook – I’d be keen to know their strategies for retaining flagship position.