Facebook is in the news for all sorts of reasons these days. The stock price is through the roof, the IPO went fantastically, Facebook ads is growing up, it’s not yet mature, it’s the pimple faced kid in the back etc The theme is the similar – it’s in its teens, Facebook is now older than 12 years – in tech speak it’s a lifetime or more. Facebook is behemoth, no longer the agile young upstart that it was in its early years.
In the effort to monetize Facebook, we are now seeing the similarities of Facebook ads compared to what other, really large tech companies like Google, Yahoo, Microsoft have done to become cash flow positive. Facebook’s model of opening up avenues to advertise on its network is not a new idea nor has it been recent but there have been developments that are significant to advertisers and publishers alike.
The clear disruption in terms of advertising targeting is that Facebook ads offers demographic data that allows you to segment your target audience with a fine tooth comb. Combine the ability to target according to age, gender, relationship status, location, user’s interests, languages spoken, and education. The advertiser is presented with a myriad of opportunities to fine tune the target audience(s).
Originally, the Facebook ads were akin to the display ads found around the globe via Google’s Display Network. However, the FB ads have changed morphing into their own unique styles that are more synonymous with the now familiar Facebook interface.
As this graphic describes, you can adjust your marketing for the specific advertising goals you have in mind. It can be anything from increasing branding, building engagement, getting new app installations, building engagement with an app and even increasing the audience for an event. An unnamed variant that goes along with this graphic is use of Facebook to drive software/product sales as well. Depending on your target audience and the associated branding that the product has – you can choose a mix of the above options, such as directing traffic to new users, and promoting app engagement.
In the case of a product/software sale, the concept of page likes, post engagements and event responses are much less important than a customer converting (purchasing product). If you are seeking ways to improve your multi-channel marketing, look to Facebook and some other, less used methods of advertising to increase your reach and ROAS.