Watch out Google, Facebook is here to play in the world of online advertising.
Facebook has released a new ad network at the beginning of October that is expected to compete with Google’s successful and well-known ad platform, AdWords. As you have probably seen buzzing across the Internet, Facebook acquired Atlas from Microsoft, a type of ad network that will allow them to advertise to users both on and off the Facebook platform.
After a redesign of the product, Facebook will soon launch their version of online advertising that will use data that has been collected from over 1.3 billion Facebook users. Yes, the information that you have shared with Facebook will be used to show ads that pertain to your specific demographic and interests, giving the new platform a strong advantage over Google.
How will this give Facebook the ability to compete with Google, the powerhouse of online advertising?
Facebook’s online advertising strategy varies from Google’s in terms of the detail with which advertisers may understand and target a specific user, and they expect a simplified process for ad buyers and marketers alike. With a clearer concept of where your ads will appear and more supporting data on what they can expect from a user that will be shown the ad, the new network could change the process and expected results entirely.
Rather than simply aiming for clicks and analyzing user behavior and success post-campaign launch, Facebook’s network is expected to provide deeper expected insights in terms of conversions, impressions, clicks, and other user behaviors prior to launching a campaign.
How will Facebook use user-collected data to their advantage to reach the right users?
Facebook will use the data they have previously collected from users and combine their in-depth understanding with the ability to track individuals without using cookies or sessions, a feature that the new version of Atlas provides. This strong understanding combined with the ability to present offline ads may just give them the necessary boost to rise as a key player in online advertising.
Rather than simply targeting to specific demographics, the idea behind the new network is to target users within a demographic that are likely to convert, or are at the specific part in the sales process that a marketer would like to show their ads to. Providing ad buyers and marketers with the ability to target specific positions in the sales funnel will give them the capability to present users with a message that will elicit desired results, and a more accurate expectation of such results. This integrated system of online advertising will provide cohesive reporting and analytics for advertising efforts both on and off the Facebook platform.
What kind of businesses should take this new offering seriously?
Digital marketers across various industries should consider this new advertising platform for their business because of the unique features it boasts over traditional paid search options like Google’s AdWords. For companies and brands already active on Facebook, the new online ads offered by the social media hub might be a seamless and easy transition to market to potential consumers already liking their page on Facebook. Although the platform is in its early stages, companies may utilize Facebook’s new ad platform to boost brand recognition, drive traffic to their website, boost sales, and more.
What are the most common demographics currently on Facebook?
There are currently over 1.3 billion users active on Facebook, a number that is expected to increase year over year. Of these 1.3 billion users, over 1 billion are mobile users across the globe. Yes, it is clear: Facebook’s network is huge, however businesses need to understand who they can expect to reach with Facebook advertising and what advantages it has over Google.
The most common demographic tends to be in the 25-34 age range, although other target demographics are most definitely active on the platform as well. As a result, a wide range of marketers should be able to utilize the Facebook platform to reach their targeted demographic.
With Facebook’s capabilities entering the world of online advertising on a larger level, there is expected to be a shift to people-based marketing as we move closer to understand each consumer as an individual.
What do you think: will Facebook soon become a major player in online ads?