OUR TAKE ON THINGS
Social Media Marketing - January 22nd, 2014
Social media giant Facebook has announced its plans to kill sponsored stories that appear on news feeds of users. The decision follows the protests, allegations and a lawsuit filed against Facebook. The announcement was made through an updated roadmap in the developer page of Facebook. According to this, the service will be no longer available after April 9th.
Announcing the decision, the company said certain updates are making sponsored stories annoying and hence they will no longer offer sponsored stories as a stand-alone ad unit for marketers. They added that existing ads will continue to display for some time after which it will also be removed.
From the beginning social media experts felt that sponsored stories would have a limited life expectancy. Some users even filed a class-action lawsuit against the social media giant that pointed out the fact that Facebook never obtained consent from users to use their personal data along with the sponsored stories. The lawsuit was later settled for an amount of $20 million.
With Facebook winding up the sponsored stories, it would be hard for businesses and brands to reach their target audience in an effective manner. All we have to do is utilise the existing advertising services from Facebook and wait for yet another advertising feature.