Facebook reinvents targeted advertising
Posted by adamhe67
Last week Facebook announced a new advertising unit (platform?) called Product Ads. This new unit promises to make advertising much easier for companies looking to get more conversion out of the users of the #1 social network. Companies were already able to target specific ads for specific products to specific audiences, but that takes a lot of work and doesn’t always provide the best results. Product Ads will dynamically adjust which ads you see based on a variety of factors including what apps you use and what your activities and interests are.
Advertising obviously isn’t anything new. And targeted advertising is probably as old as the internet, if not older. But until now, the technology available (tracking cookies mostly), only allowed for advertisers to market a specific product to a certain demographic. Facebook has taken the technology one step further. Because the social network knows so much about you (via likes, cookies, other ad clicks, etc.) they say they can allow an advertiser to upload a whole catalog of products and your social activity will allow what products you see advertised to change dynamically. If there was one company that was going to figure out how to advance advertising technology in the face of social media it would be Facebook. I’d say the ball is in Google’s court now.