Advertisers can now target the users on the basis of their activities across the desktop, mobile channels, outside of Facebook, and even offline.
It seems Facebook is trying to gain the attention of more advertisers by providing more actionable data of its users, including shopping patterns, loyalty programs, and email lists.
Paul Marcum, director of Global Digital Marketing & Programming at GE is already planning on how he will be using the new ad targeting parameters to promote his brand. Paul said, "We have a number of different audiences that are relevant for us, of course with GE. Certainly we seek to engage business decision makers and have perhaps more commercially oriented conversations, but we also seek to engage people who are enthusiastic about technology like we are. However those connections can be made off of Facebook, on Facebook, we're excited to make those connections. Their ability to surface and find people who share our same interests is a great opportunity for us.
With technology becoming more sophisticated and availability of accurate data, marketers are embracing the programmatic buying culture.
Marcum also added, "That ability to target is of course something that has been part of the opportunity on Facebook from the earliest days. I think it's natural that they combine what they're able to do within the platform with what marketers are able to do outside of the platform. It makes a lot of sense and will be seen as fairly appealing for those who have been doing audience buying so far".
Facebook has already made more than 500 unique groups of the users on the basis of the data it has received. Datalogix for example has provided the loyalty card and transaction-level household purchase data that will help a consumer-packaged goods marketer to target buyers of children's cereal.
A lot of privacy issues are raised regarding Facebook's data fetching activity. Facebook clarifies that it is adhering to privacy standards and that various companies are already using such data to target users off of Facebook. In a blog post, Facebook said, "No personal information is shared between Facebook, third parties or advertisers. Partner categories work the same way all targeting on Facebook works. The advertiser only knows the size of the audience and can’t access any information about individuals included in a category".
Further supporting Facebook, Rebecca Lieb, an analyst with Altimeter Group said, "This is completely anonymous. I think privacy has been taken well into account by Facebook. The data is going to be pretty rich and robust, that is the heart of Facebook’s advertising offering. It’s state of the art, precise customer targeting data. “I don’t think they’ve cracked new codes. They are, however, making a valuable tool more broadly available.”
GE's Marcum thinks that the future of data is great. There are opportunities out there, which haven't been contemplated yet. The numerous undiscovered ways are still present which can be more relevant in improving the relationship between brands and their audiences.
Facebook is taking help of Epsilon, Acxiom, and Datalogix to know more about its user's behavior and their activities on Facebook & off.Brands can now Target Facebook Users on the Basis of their Activities Outside the Facebook!,