Meta Expands Monetisation Support for Reels
Still haven’t jumped on the reels wagon? There’s never been a greater time to, than now
According to Meta, creators on Instagram and Facebook can now explore new ways to generate income through yes, we’re going to say it, Reels. We won’t lie in saying that there’s been a hesitancy (even internally), to jump on the Reels band-wagon but as history denotes you must be open to change and be well-versed in new trends if you don’t want to fall behind or worse, be forgotten.
Reels has been the golden child of Meta ever-since TikTok became an established competitor for video based content but we’ve never seen incentives beyond organic pushes in the algorithm before – until now. Meta has announced they’re updating the Reels Play bonus program and launching a “Challenges” program, specifically for Facebook where the incentive is not impressions, or reach but real money.
Meta Claims: “We believe that creators who do the hard work of crafting and promoting original content should be rewarded in distribution, growth and monetization.”
Facebook’s “Challenges,” means creators like yourself could be earning up to $4,000 in any given month!
- Creators can participate in a series of sequential, cumulative challenges each month. A challenge might look like: Earn $20 when 5 of your Reels reach 100 plays each.
- After a creator finishes a challenge, another challenge will become unlocked. So if they completed the example above, they would see a new one like: Earn $100 when 20 of your Reels reach 500 plays each.
- There will also be incentive to produce reels consistently as progress on Challenges will reset to #1 at the start of each 30-day bonus period.
To assist creators in understanding how their Reels are performing so they can emulate successful content and campaigns, Meta is also introducing insights for Reels Play creators on Facebook. This will enable creators to view how many Plays each of their Reels receive within a specific earning period.
Meta plans to consolidate automated ad products under Meta Advantage
Meta has also recently announced that it will be consolidating all of its automated ad products, including Detailed Targeting Expansion and Automated App Ads, under Meta Advantage, to make these products more accessible to advertisers.
The significance of Automated Ad Products is outlined by Goksu Nebol-Periman, Vice President of Product at Meta, who claims:
“Automated ad products help to improve the performance of your ads by relying more on machine learning, such as automatically finding the more relevant audiences or ad placements.”
They also allow you to further simplify optimising campaigns, so you can worry less about managing campaigns and get back to running your business!
The Meta Advantage suite is going to include the following products:
- Advantage Products work to improve manual campaign setups, like Detailed Targeting options.
- Advantage+ Products that automate an entire campaign flow or core step of a manual campaign setup, such as placements or creative.
Advantage+ Shopping Campaigns is set to be Meta’s next innovation and is currently in Beta testing as Automated Shopping Ads. Nebol-Periman claims this product will provide the best opportunities to drive conversions and will be rolling out by the end of 2022.
Meta plans to give advertisers more control over feed ad placements
If the above wasn’t enough to convince you, Meta has also announced it’s designing content-based controls to give advertisers even more autonomy over where their ads are displayed on both Instagram and Facebook feeds.
The new controls are being created in response to concerns that ads are appearing next to topics that don’t align with brands’ preferences, which ultimately decreases efficacy of targeting and conversions.
This new feature will primarily appear in English-speaking markets with plans to test the new initiative in the second half of the year. A bigger rollout is set to occur in early 2023 so there’s plenty of time to scrub up on your ad strategies before you need to implement them!
Next year, Meta will also expand their control ecosystem to include how ads appear in Stories, Reels, Video Feeds, and Instagram Explore.
Although we think it’s important to explore new and arising platforms, it is also equally important to not undermine the power Facebook still holds. We hope you’re as keen to explore their features as much as we are!