Facebook ‘Watch’ Is Like TV, and It’s a Thing Marketers Want
Jason Beckerman, CEO and co-founder at Unified — a data management and business intelligence platform, adds these thoughts:
In so many ways, Facebook Watch could be a game-changer — for everyone: advertisers, creators and audiences. The most important number to keep in mind is 2.01 billion: as of June 2017, this was the total number of active Facebook users, globally. When you compare them to other video platforms, like YouTube for instance, Facebook is a much stickier destination. Think about conversations you’ve had — how many people are saying, “hold on, let me check YouTube?”
Facebook Watch is continuing the trend of social platforms driving the video conversation with uniqueness playing well in advertisers’ minds, especially as ad budgets shift from transitional programmatic video — something that has lost its “wow” factor. The social video space allows advertisers to engage with their target audience in real-time, anywhere and Facebook’s user base is primetime for advertisers looking to reallocate their TV ad spend.
Video View Metrics Are a Concern
A theme that kept coming up among the comments is that Facebook’s had a problem with providing accurate video view metrics to marketers. Some are concerned this could happen again with “Watch.”
Sovay says: “Measurement will always be key to brand marketers. Today, advertisers utilize platforms like CreatorIQ to measure the performance and impact of creator-driven content through their owned social CRM and business intelligence platform. We will be keeping a close eye on what, if any, ‘Watch’ performance metrics are included in Facebook's API, moving forward.”
This opens up the marketing supply chain, as the money begins to be shared among many parties, it’s going to be vital for marketers to demand more transparency in both social ad buying and placement. The sheer amount of data generated from Facebook’s digital advertising activity means that marketers need more centralized data ownership and control, as ad investment rises and becomes increasingly fragmented.
Wait-and-See Is Still a Thing, Too
“It’s still too early to tell what the impact of ‘Watch’ will be for media agencies or our advertisers,” says Brad Goldberg, VP of Advertising at HYFN, a digital solutions and cross-platform social advertising company. “[Watch is] definitely something that we at HYFN will be keeping an eye on as Facebook starts leveraging the feature to our clients. For now, this seems like more of a user engagement play before Facebook begins tapping into the advertiser side.”
What do you think, marketers?
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