The social network has launched a new way for advertisers to drive more awareness of their app, page or place. Facebook announced a Sponsored Results API that is available for developers to sponsor search results.
Advertisers will have the ability to embed ads in the list of results within Facebook’s toolbar when a user conducts a search. Facebook says that the ads will have a 70 character message and lead users to Facebook pages or apps and can target Facebook entities, such as Pages, Places or Apps. The Sponsored Results can not drive traffic off-site to an advertiser’s web site and must stay on the social network.
Bidding for Sponsored Results on Facebook will be on a cost-per-click (CPC) model or an optimized cost-per-thousand (CPM) model. The minimum bid price is $0.01 for targeting the same entity that you are promoting and $0.15 for targeting other entities on Facebook.
The Sponsored Results will only appear when a user conducts a search using a desktop device, and are not yet available on mobile devices. Facebook says that advertisers can create Sponsored Results using the Facebook Power Editor, which was released a few months ago.
The social network says that their search function is one of the most utilized features on its site, which enables advertisers to impress their ads in a new way on Facebook.
Below is a screen shot of an example of Sponsored Results API that Facebook has released.
The social network is set to launch a new advertising service that will allow advertisers to retarget users and bid in real-time based on a user’s recent browsing activity. The new service will be called Facebook Exchange and is rumored to be available within a few weeks. A Facebook spokesperson said that pricing will based on a cost per thousand impressions (CPM) and ad spots will be sold via third-party vendors.
Facebook Exchange will target users by tracking cookies and the partner sites will then use these cookies to identify Facebook members. The social network will not allow its members to block these cookies and will leave it to the third-party vendors to take responsibility for giving the users the opportunity to opt-out.
The third-party vendors include Triggit, Turn, DataXu, MediaMath, AppNexus, TheTradeDesk and AdRoll.
There has been no word of any changes to the current Facebook advertising options, where advertisers can target its members by using specific demographic data alongside user Likes.
The Google Display Network (GDN) offers a similar product via Remarketing, however, the new Facebook Exchange product will allow advertisers to target people who like specific products or brands, allowing advertisers the ability to reach extremely targeted audiences. It will be interesting to see how the Facebook Exchange platform can supplement advertisers’ paid search marketing efforts and Remarketing campaigns through the GDN.
The social network, Facebook, will be updating their advertising capabilities to increase user engagement and purchase intent. Facebook is set to announce the new ads at a February 29 media event in New York.
The new ads on Facebook will be social by default, meaning they will automatically show users when their friends have already Liked the advertiser. In addition, the new ad formats will draw their content exclusively from posts to brands’ Facebook pages, instead of written advertising copy from the advertiser.
Other changes to Facebook ads include:
The social network believes that the future of online advertising lies within content, rather than the messaging, and ads that are endorsed by the people you know have a better chance of capturing your attention. The company says that the new ads will produce more engagement, better recall, and a significant increase in purchase intent.
Facebook says that Marketplace and self-service ads will not be affected and that reporting and metrics will not be upgraded.