Why Facebook may become the worlds largest advertising platform
Some of the recent changes and announcements from Facebook have shown me signs that it is quickly becoming a powerhouse in advertising. What’s funny is they haven’t even done the two things that would bring in the money like a waterfall, mobile ads and off-Facebook ads. It seems to me that Facebook is quite content developing an ever-growing, all encompassing network that combines content, commerce, games, culture, religion, politics and social interaction all in one place on the web. All the while they have become better and better at reading the signs, the patterns of social interaction and ultimately what makes us all tick. This is powerful data and goes a long way to bridge the gap between active searching (and search marketing) to passive interacting and ads that predict what you want.
These ads, in my mind, would become tools to your consumer desires. You would see the right ad, at the right time, and know you are being advertised to, an appreciate it. Need a new pair of shoes? Have your fiends called you out on this in a photo or two? BAM! You get the perfect, timely ad from that shoe company you’ve liked on Facebook. This kind of ad is not far away, maybe within a year or two. It’s with this perspective that one must look at the latest enhancements to Facebook’s social network. Advanced news feed algorithms that predict what you want to see, Timelines that encourage you to reveal more and more about yourself, ads that use your own words to advertise to your friends. All of this is happening so fast that many users have been left dazed and frustrated.
This frustration will pass, the strange will become the norm. Soon we will have more Facebook powered ads than we can imagine, and if they prove to be effective Facebook may one day usurp the king Google for the best spend to revenue model for advertising. Frankly though, I find this a bit hard to believe at the moment and hope to be convinced through case studies and the like. Most Facebook advertisers will tell you that the best use of their ads is to grow your fan base, thus growing your potential to market more effectively. I haven’t been able to make Facebook ads effective to drive immediate conversions like Google ads, and as such need to see some serious improvemtn to believe that Facebook will change the world.
It’s possible, if they continue to develop and work on building a better ecosystem where advertisements work effectively. The potential is there, but I don’t believe the public is ready to understand it. It’s too “creepy” or “unwanted” at the moment, but soon they will understand. Facebook stands to revolutionize online advertisements but it must constantly play a popularity, privacy, security, and numbers game simultaneously. Hey, that sounds kinda like the work of a social media manager like me.
About the Author
Mario currently manages a community of over 250,000 members on the Facebook page, Twitter accounts, and blogs of Build.com. Acting as the Build.com’s Social Media Manager, Mario manages all of the advertisements, content and technology behind Build.com’s growing social media strategy. Having built this community from the ground up, Mario is extremely knowledgeable of the current state of social media, it’s potential as a business driver, and it’s true capabilities regardless of the hype. Having graduated California State University Chico with a degree in Communication Design, and an emphasis in Graphic Design, Mario is uniquely positioned to be an efficient and powerful social media manager. When Mario isn’t working on increasing fan engagement, or advertising CTR’s, he is down in the workshop building custom motorcycles or out riding them in the hills of Northern California.
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