If you don’t work on cars, how do you know your mechanic isn’t ripping you off? And if he’s honest, he could still be inefficient — and that costs you money. It seems like everyone on Facebook is a self-proclaimed social media expert. There are no degrees or certifications, so we all operate without a license.
Spruce Media, a Facebook Strategic Preferred Marketing Developer, examined the state of Facebook advertising in the first quarter of 2013, and reported mostly positive results, in advance of the social network’s first-quarter earnings call Wednesday afternoon.
As a digital marketer, I’m reading far too many articles taking jabs at the Facebook advertising platform. The argument runs that because the ads you see against your profile are sometimes irrelevant, Facebook’s business model is flawed. Most of the articles of this ilk focus on this being Facebook’s problem, with this being a product-related issue. From a user and business perspective, this is simply not true.
Lookalike audiences, which Facebook began beta-testing last month, will launch this week as a targeting option on the social network’s power editor, allowing advertisers to reach out to potential customers with similar characteristics to their current customers.
Through custom audiences, Facebook pages can launch highly targeted marketing campaigns. Sister site Inside Facebook reported Monday that Facebook has launched lookalike audiences, allowing advertisers to target users who are similar to those in the custom audience database. Currently, this is in beta for U.S. users.