How Facebook Advertising and Marketing Will Evolve in 2014
Hate it or believe it, Facebook is here to stay. In fact, it will register an even more significant presence in 2014. The gargantuan social network, with over a billion active members, has become an integral part of daily lives of people and more importantly, an indispensable marketing and advertising tool. So what 2014 holds for Facebook advertisers? Here is a short perusal.
The headlines of an interesting story published in the Guardian recently (Dec, 2013), read, “Facebook ‘dead and buried’ to teens,’ research finds.” The context was a research conducted by one Professor Daniel Miller, who along with his team, found that teens are shunning Facebook because they “dread the day your mum sends you a friend request.” For the young, Facebook isn’t cool anymore.
But that’s exactly what Mark Zuckerberg has been trying to do from the last few years: turn Facebook from just another cool, hip social place to a platform for establishing longer, meaningful relationships. Facebook is so much more than a dating site. Its Newsfeed is a genius invention that made it the most widely used application for consumption of breaking news, content and information. Photo sharing was always one of its core strengths and continues to remain so. The site has a bank of 250 billion photos, which is growing at a rate of 350 million photos per day. There are hundreds of other mind-numbing stats about Facebook that go on to reiterate the fact that Facebook is still a force to reckon with, with or without Teens. From a marketer’s point of view, the significance of Facebook is going to increase even more in the future. Let’s see how.
Facebook marketing: Why should I care?
Any platform where millions of users spend significant time daily is worth the attention of marketers. If a new brand wants to get itself introduced to millions of people without spending thousands of bucks, within a very short period of time, Facebook is the best option right now. The benefits are immense. Facebook helps generate brand awareness amongst their target customers. A business page, sponsored ads, and groups, all are tools of getting the brand out there in front of the people. Facebook marketing helps you in direct interaction with customers, where you can directly communicate with customers and get instant feedback, ideas, criticism, and praise. The ability to increase website traffic is also one of the most vital reasons one should pay attention to Facebook advertising.
How Facebook marketing is going to change in 2014?
Facebook continues to roll new features and test them in real time and 2014 will surely witness some more novelties coming from the prime social network.
Overhaul of Campaign Structure Planned in 2014
In a November 2013 blog post on its Developer blog, Facebook announced its plans of a complete overhaul of its campaign structure, which will include modifications to its Ads Create Tool, Ads Manager, and Power Editor. As per the blog post, here is what the advertisers will be able to do after the update:
— Specify a campaign objective to make its entire ads serve that objective, and to improve optimization and reporting.
— Get better control and aggregate stats, including total reach, at the campaign level
— Use multiple ad sets, each with their own budget and schedule controls, to optimize spend and delivery within each audience segment or placement.
The upcoming changes are expected to help advertisers in designing more coherent and effective campaigns.
1. Mobile will become primary to advertising strategy on Facebook
Much has been said about how the world is going mobile crazy. The think-tank at Facebook has also finally understood the importance of mobile and after its initial drudgery, is now working full throttle to create a superb mobile experience for its users and advertisers. About 49 percent of Facebook’s revenue now comes from mobile (updated 10/30/2013), and it occupies 15.8 percent of the global mobile ad revenue in 2013. As the shift towards mobile continues non-stop, Facebook marketers will have to work on new strategies for targeting these devices.
In a recent update, Facebook released three new feature updates for allowing advertisers and marketers to create better mobile app ads, reach existing users and drive the traffic back to your app. These feature updates have already seen early success, with some of the apps registering better sales and more than double the ROI. A similar trend could follow in 2014 also.
2. Focus will be on targeted advertising
Facebook is constantly enforcing changes to its Newsfeed algorithm to improve the quality of user experience. With these ‘improvements’, the company is hoping that more users will interact with ads and offer valuable data which will help Facebook to determine the relevancy of advertisements to its users. This targeted advertising is sensible as no user would like to be spammed with irrelevant ads. Facebook has already announced that it will now place importance on small business advertising to exploit the millions of small business pages it currently hosts.
Besides these, Facebook must have more than a couple of aces up in its sleeve, which it would show when the time is apt. After all, advertising is an indispensable part of the business and with the expansion of Facebook, its importance is going to increase further.