By Mike Stiles on Nov 02, 2012
Think Facebook monetization isn’t a head game?
Imagine creating something so functional, fun and addictive you literally amass about 1/7th of the planet’s population as an audience. You have 1 billion users that use it at least once a month. But analysts and marketers look at what you’ve done and say, “eh…not good enough.”
What if you had a TV show that garnered 1/7 of Earth’s population as an audience? How much would a spot cost? And how fast would marketers write that check, even without the targeting and engagement analytics Facebook offers?
Having already changed the marketing landscape forever, if you’re Facebook’s creator, you’d have to be scratching your head and asking, “Wow, what more does a product need to do?” Facebook’s been busy answering that very question with products and betas that will likely directly affect your brand’s strategy.
Item 1: Users can send physical gifts to friends through Facebook based on suggestions from user data. A giant step toward the potential power of social commerce.
Item 2: Users can pay $7 to promote posts for higher visibility. Individual users, not just marketers, are being leveraged as a revenue stream. Not impressive enough? There’s also the potential Craigslist killer Facebook Marketplace.
Item 3: Mobile ads. 600 million+ access Facebook on smartphones. According to the company, half of the $1 million a day generated by Sponsored Stories as of late June was coming from mobile. Ads in News Feeds seen on mobile had click-through rates 23x higher than on desktop News Feeds or the right side panel.
Item 4: App developers can buy install ads that show up in mobile News Feeds so reliance on discovery in app stores is reduced.
Item 5: Want your posts seen by people who never liked your Page? A test began in August where you could appear in non-fans’ News Feeds on both web and mobile.
Item 6: How about an ability to use Facebook data to buy ads outside of Facebook? A mobile ad network is being tested to get your targeted messages on non-Facebook apps and sites surfaced on devices.
Item 7: Facebook Collections, Facebook’s answer to Pinterest. Users can gather images of desired products and click through to the retailer to buy. Keep focusing on your imagery.
Item 8: Facebook Offers, Facebook’s answer to the Groupons and Living Socials of the world. You can send deals to your fans’ News Feeds.
Item 9: Facebook Exchange lets you track what fans do on Facebook and across the entire Web. Could lead to a Facebook ad network leveraging Facebook users and data but not limiting exposure to the Facebook platform.
Marketers are seeing increasing value in Facebook (and Twitter for that matter). But as social grows and adjusts, will marketing budgets aimed in that direction grow and adjust accordingly, and within a reasonable time frame?
Photo Christie Merrill/stock.xchng