Today’s column is written by David Serfaty, director of social advertising at Matomy Media Group.
Advertising on Facebook has undergone a dramatic transformation over the last year. It’s evolved from what was primarily an engagement-based platform to one that offers advertisers direct response and, ultimately, sales.
In late 2013, Facebook released a steady drip of more performance-based targeting options for advertisers. It pushed that further this year when it announced several new mobile ad initiatives at its F8 developer conference. And it went full bore with both on- and off-Facebook targeting and measurement capabilities with the relaunch last month of its Atlas ad server.
All of these changes and new advertising product launches point to one thing: Facebook wants to be marketers’ everything and everyday ad platform. Whether your brand wants to reach baseball fans in Kalamazoo, cricket players in Melbourne or dog sled racers in Fairbanks, Facebook is making the case for why it’s the only ad platform marketers need for engaging and acquiring consumers on Facebook or off.
But it doesn’t come cheap. One point seemingly missing from most marketers’ discussions about the power of Facebook advertising is this: You have to pay good money in order to engage with and acquire quality customers or users.