Now, more than ever, everyone’s transforming into online connections. Facebook has seen an increase in Live and Video streaming. This is how advertisers and creators create meaningful communities. As such, Facebook expands access to fan support and adds new ad tools.
Facebook made subscriptions and Stars available to a qualified Page.
Fan subscriptions allow users to follow and support the Page they love through a monthly recurring payment. It’s currently available in:
- United Kingdom
- United States
Stars, on the other hand, helps brands earn money during a Live stream. Viewers can buy them on the video comments. Once they send the stars, they’ll receive a thank you card. Creators can also set Star goals during a broadcast to encourage fan support.
Facebook also expands the scope of In-Stream Ads. Creators can now monetize mid-roll videos, short-form videos (60-180 seconds), and videos in Watch. The platform will also start hosting paid online events.
New analytic tools were also added to the Creator Studio. These include Comment Insights, Hourly Video Metrics, and Traffic Sources. Creators can now publish and schedule posts in the app itself. They can also login to Creator Studio using Instagram credentials.
The abovementioned updates are available starting 29 June 2020.
Implications for Marketers:
As Facebook expands access to fan support and adds new ad tools, it increases the chance of creators sticking to the platform. For marketers, producing great video content consistently can be rewarding. The strategy is to optimize your Facebook Live Broadcast. Promote your broadcast before the schedule. Be creative in posting teasers and relevant links. During the broadcast, set Star goals to encourage fans to support you. Then after the Live stream, post a thank you message and encourage further interactions. In doing these steps consistently, your Page can attract subscriptions.