Facebook: New Products Every Business Must Consider In Their Marketing Strategy
2012 was a big year for Facebook. From going public with their IPO, to reaching 1 Billion monthly active users, to understanding that the underlying network offerings had to be mobile ready. This was a pivotal year for a company that is essentially still in its infancy by enterprise levels.
For the businesses that utilize the Platform for their marketing efforts, we are seeing a shift from simply seeing a page boosted with “Likes” and talks of “engagement” to a viable commerce channel.
Here are a few of the developments and products that every business should, at the very least, explore for their marketing efforts on Facebook.
Launched officially in late summer of 2012, this Facebook product offers a lot of potential for marketers as social search usage increases. According to Facebook, the search bar is one of the most used features on the platform. Essentially it’s expanding distribution of your page, app or place. Start typing in search terms related to your product in the search bar and see what sponsored results land at the top. It’s a powerful tool that any marketer can use with Power Editor.
As local search, local discovery becomes more prevalent; this new enhancement by Facebook is a game changer. Nearby is not new, however the update has made it a formidable competitor to the Yelp’s of the world. If you own a local business its worth checking out and staying on top of. Keep a look out for utilizing Check-In Deals.
Custom audiences let marketers find their offline audiences among Facebook users. Using email addresses, phone numbers or Facebook user IDs to make the match, you can now find the exact people you want to talk to, in custom audiences that are defined by what you already know.
This means that in addition to targeting the types of people you want to reach among the Facebook population, you can now also reach segments of specific people—based on information you have about your own, offline audiences. Accessed through Power Editor.
This new feature was originally rolled out a few years back only to refine it and relaunch as a better feature. Information can be found here about participation and getting your product included.
Facebook Exchange (FBX)
Real-time bidding through the FBX allows for more targeted/relevant ads based on intent (cookie based) that advertisers own. This is becoming an extremely effective way for advertisers to capture those “immediate intent” to purchase consumers on the platform through retargeting efforts. In short, serve the most relevant ads to the most relevant consumers, in real time. Access to this program is only available through using one of the approved Facebook Preferred Marketing Developers.
There’s more incredible things coming down the funnel. Stay Tuned…
Leave a comment below.
What Facebook advertising products have you used?