With over 128 million daily active users in the U.S. alone, who spend an average of eight hours per month on it, Facebook represents a huge opportunity for businesses with the challenge of finding and reaching their audience online.
Until recently, marketers were only able to target Facebook users by demographics, interests, or categories. These options, still available to advertisers, offer relatively accurate targeting. But what if you wanted to reach your current customers (whether they have “liked” your page or not), or a specific segment of them, on Facebook?
Thanks to Facebook Custom Audiences, you can now do just that.
Facebook launches a new local business tool that allows a user to search for local businesses with their mobile application. The biggest difference with this new app is that it features their “Friends” recommendations.
The new feature is only available on mobile applications and the goal is to focus on reviews, check-ins, and ratings by user’s “Friends” list. This allows for a much more unique customer experience as the searcher will know exactly who gave the reviews and what their “Friends” thought of the experience at the local establishment. This application is only available on Facebook’s mobile platform and not the desktop version.
This is a huge opportunity for local businesses to establish their brands within a community. By receiving reviews from customers that will directly influence other customers, it will help them gain maximum exposure. The only thing required to be able to use the Nearby feature is to have a Facebook page, as the feature does not openly use data on the web.
Here are some tips from Facebook on how to promote your business within Nearby:
At this time, the Nearby feature is completely free and automatically indexes all business that have pages on Facebook.
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.