New Opportunities for Facebook Advertisers
It seems pundits have been ringing Facebook's death knell since the day it went public. Some marketers suggest there's no return on investment in Facebook advertising, while others believe that Facebook isn't being attentive enough to the needs of its advertising base.
There are, however, new opportunities popping up for advertisers on Facebook all the time. Those who are staying abreast of developments and properly exploring their worth as part of an overall marketing strategy — think search, social and display in the same way it used to be radio, TV and print — will reap the benefits of the opportunities provided by the world's second most popular website. There appears to be more coming all the time, too.
The most recent innovation from Facebook is already changing the marketing landscape. What's really great about Facebook Exchange is that the social network is allowing advertisers to use their own first-party data to put an ad on Facebook in front of a specific user.
Facebook Exchange is really a boon for image-sensitive brands that have been loathe to trust retargeting, given the opportunity for placement on websites is beyond their control. Facebook is a safe place for retargeting, and brands should be taking advantage of this fact as much as they can.
The key to success here will be optimization. If not done properly, your cost per click could get expensive quickly. Remember this is real-time bidding, so there will be competition. Take advantage of dynamic ad creation tools that allow you to directly target the user you're speaking to.
The only drawback with Facebook Exchange is that there's no further targeting beyond your own data. One cannot combine that data with all of Facebook's relevant data for some kind of hybrid hypertargeting. It will be interesting to see if this current state of Facebook Exchange evolves.
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