Behavioral marketing will be a key player currently.
5 min read
Opinions expressed by Entrepreneur contributors are their own.
Facebook has been at the center of a scandalous storm about privacy manipulation issues as well as has made of which clear of which of which will be producing adjustments to fix its reputation as well as its consumer reliability adequately. yet will of which be enough? We are all aware of which Facebook will be a company whose revenue derives coming from advertising, as well as of which looks for ways to grow as well as engage users by creating attractive as well as innovative advertising solutions in hopes to gain more market share coming from various other online giants like Google as well as Bing.
Related: 3 Key adjustments to Facebook Advertising After a Year of Scandal as well as Regulation
Facebook removes hundreds of targeting options to protect users’ privacy.
As an integral part of their attempt to retain their customer base, Facebook has decided to cease its data acquisition coming from third party providers. The Mountain View giant used to provide advertisers with targeting options such as income, purchasing intent as well as credit card usage. These targeting options won’t be available anymore, as well as users are guaranteed with more privacy. Facebook’s ad business reputation might be damaged from the short term, yet if the company wants to survive as well as flourish, of which needs to eliminate these options.
What about the advertisers?
Cutting ad targeting options will be a double-edged sword. of which can benefit Facebook as much as of which might harm of which. However, what makes the platform so valuable will be its user base. of which will be why of which makes a lot of sense to preserve of which.
Advertisers will still have many ways to leverage their own data to create highly targeted as well as successful audiences. For instance, companies can upload their own email database as well as create lists of users with similar behaviors. These “lists,” also known as lookalikes, are not going to be providing you with an actual set of names, yet of which will create an anonymous target audience of which you can use.
Related: Facebook Has Changed as well as Your Digital Strategy Has to Adjust
Additionally, advertisers will still be able to run remarketing campaigns — which will be very useful when targeting users who visited your website as well as did not convert — as well as be able to focus interests by categories.
Facebook was, as well as will be still, thinking one step ahead.
When Facebook launched product catalog ads, advertisers could push specific products to users based on what they had previously visited on the site. This specific has rapidly become one of the best converting campaign types on Facebook.
Facebook can determine the success of a campaign through the installation of a conversion pixel of which collects information about users as well as anonymously reports who will be converting. The majority of advertisers on Facebook use This specific sort of pixel, as well as of which creates a vast, anonymous data source of which advertisers can use — the lookalike campaigns we discussed above.
Shortly after launching This specific campaign type, Facebook released a completely new campaign targeting specific products of which are likely to successfully match with buyers. This specific will be an apparent move towards behavioral marketing, which will be a way to target people based on their behavior online. Behavioral targeting will be based on leveraging the information of which will be collected by the Facebook pixel to predict the likelihood of a certain group of users to perform a purchase.
Related: Deep Learning as well as ‘Hyper-Personalization’ are the Future of Marketing Automation
Facebook will likely work on replacing all the third party targeting methods with their database of user behavior built within the same Facebook platform. of which’s great news for advertisers because they will be able to target quality users, as well as of which’s not bad news for the users because all the information will be being collected anonymously coming from Facebook as well as not through third parties, protecting their privacy.
Even though This specific type of technology will be not completely new — of which has been used by Google Ads — of which will be meant to find a compromise between privacy for the users as well as a need of targeted audiences for the marketers.
Facebook will be working on giving more control to advertisers.
Facebook will be working on a similar approach to Google when of which comes to giving advertisers the possibility to choose what kind of content will be allowed to display in their ads. This specific could be interpreted as a brand “safety tool.” For instance, advertisers could decide to not show ads with political content or any various other content they don’t believe might fit having a specific brand.
In today’s world, brand awareness will be key to a profitable business, as well as the effort of Facebook to give more control to advertisers will be definitely a step from the right direction.
Related: These 2 Major Trends Are Altering the Media Landscape. Here’s How You Can Be Prepared.
What can we expect from the next six to 12 months?
After speaking with people coming from Google as well as Facebook, of which seems very clear of which advertising will be moving towards targeting behaviors rather than merely searches. Behaviors allow marketers to target a much larger population of potential customers at a much better cost per ad view. The market will shift more toward This specific direction, yet users’ privacy will play a much more significant role than ever.
Why? Because the move towards behavioral marketing will also mean targeting people at a different stage of the purchasing funnel than people searching on Google. This specific means people are more likely to be exposed to a product or service across multiple devices as well as platforms, producing cross-device tracking as well as attribution a growing need for any business. We are more than sure Facebook will be already thinking ahead as well as working on of which.