Facebook Stories are on a roll with advertisers having doubled (124%) their spending on Stories ads in Q4 2018, according to new data from Nanigans. CTRs meanwhile jumped 52% compared to Q4 2017 and CPMs were up 112% whilst CPCs increased 39%.
Although News Feed ads are still the most successful Facebook ad type, the data highlights just how rapidly the format has made gains.
The Global Facebook Advertising Benchmark Report also found that video received the highest budget share among Nanigans advertisers (61%) compared to image-based Facebook ads.
Video ads were found to both boost CPMs whilst also decreasing CTRs.
Global CTRs on Facebook average 1.5%, representing a 11.6% increase year-on-year. The company attributes the rise in click engagement to the success of dynamic ad types during the holiday season.