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.
Have you ever been on a website and gotten distracted? Although you intended to go back and complete an order, you just never got around to it. What if you had received a reminder to return to that website and complete your task? That reminder is available and it’s called remarketing ads.
Remarketing ads keep your company top of mind to people who have already visited your site. Remarketing is flexible because your business can determine how subtle or blunt your ads can be. The beauty is that your business decides who they want to reach based on the pages that people have visited on your website. For example, if someone went to your site and placed an item in their shopping cart, but didn’t purchase, your business could choose to target those people with an ad that says, “Free shipping on all orders.” In fact, your business could even offer that person a discount if they come back and buy.
Remarketing ads have proven to be a viable weapon for companies because of the low cost/conversion, especially when “view-through” conversions are taken into account. According to Google, “a view-through conversion occurs when a user views (but doesn’t click) an image or rich media ad, and then later completes a conversion.” This benefits the advertiser, if they are using the cost per click payment method, because they are getting a conversion without paying for it.
Some company’s have hesitated to try remarketing whether; it’s due to a lack of knowledge or the uneasiness of trying something that’s new to them. Remarketing ads are like the “open” sign in front of a business store that reminds people driving up and down the street that your company is ready for their business.