For so long, Google and their tech have dominated the digital advertising marketplace, but they now have a foe that could catch up and has no plans of slowing down. You may have heard of them…. Facebook. The largest social network in the world has developed an advertising platform so effective that Google is bringing in new talent to possibly rejuvenate
Google+ to compete.
Don’t get me wrong, Google is going nowhere and will remain a force in digital advertising. The difference is that Google knows the Internet inside and out, but Facebook knows its users, people, inside and out. All 1 billion of their users tell them everyday what they like. That’s called 1st party data and FB has a ton of it and allows advertisers to use it! That’s what makes them so powerful. Imagine if every time you walked in a grocery store and all of the foods you like are in the first row waiting for you. That’s what Facebook has created digitally. That technology extends to Instagram and to their Audience Network. Audience Network, is for mobile publishers and it allows them to use FB’s ad tech to drive revenue on their site or app. If that wasn’t enough, they still haven’t exposed what they have planned for Facebook Messenger and WhatsApp.
Their targeting capabilities, combined with the format of the ads, make it a perfect combination. Facebook wants their ads to look like original posts. By doing that, their ads don’t feel so invasive or down right annoying. It’s becomes a normal part of your news feed.
The biggest and possibly most important feature is the cost of running a campaign. FB uses the cost per click pricing structure and it is considerably less to get the same results as their competitors. It’s also extremely effective in making sure it’s serving your ad(s) to the right people. CTR’s can easily go over 1%, compared to the display/banner ad standard of .08%.
After reading this, some might think “Why serve ads anywhere else?”, but with everything you have to make sure it’s a good fit for your business. Experienced digital marketers may already know what’s best for them, but if you’re coming in new, it may be worth it to give it a shot. As an advertiser there’s not a lot of bad, and that could be the reason Facebook is positioning itself to takeover the industry.
BENN Solutions – Programmatic Campaign Manager