Facebook is more than a social networking site; it’s a business with many complex features working together. Once a small website (for only Harvard University students), Facebook has long since shed its small-town ways for bigger, flashier effects in the horizon. Facebook now combines the best of social networking tools and online marketing tactics to create a single platform that is attractive to both users and businesses, and it is only getting started.
Facebook may have started out as a way for people to connect with their friends, but in the process of becoming the world’s largest social network, it has evolved into the greatest marketing platform on earth. The key to the success of its marketing platform lies within two core elements: the social graph, and reach.
A report last week that Facebook was testing a new type of targeted advertising, along with several third-party partners, which would allow brands to market to users based on items they have previously expressed interest in while surfing the Web was confirmed Wednesday with the social network’s announcement on its Facebook Studio blog of the expansion of its custom audiences offering with data-centric partners Datalogix, Epsilon, Acxiom, and BlueKai.