Thanks to its IPO, Facebook has been forced to come up with new ad formats in order to appease its investors. After playing around with a wide number of advertising formats, it's taken the drastic step of cutting half of its ad formats - including sponsored stories - so advertisers have a easier time.
Announcing it on its site, Facebook said that the move was part of a planned overhaul of how companies buy ads on the site. Some of the formats being dropped include sponsored stories, ads that ask a question or make online offers, recuding the complexity and trouble behind choosing a suitable ad format.
Instead of choosing the ad format directly, advertisers will choose the type of goal they want to achieve such as building up fans, getting people to instal their app or driving people to physical stores. The changes will be introduced in the next few weeks, but it's expected that it will take up to six months for the new process to be truly up and running.
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