What's The Big Deal About Facebook's Social Ads?

Think fast: how can you make money running a social networking site? If you'd asked me that question, say, four years ago, when Friendster first came about, I would've probably come up with two obvious things. In fact, I'd say if you asked the average Systems Analyst on the street, they'd come up with the same ideas I had then: let advertisers have their own profiles, while selling ads based on people's stated interests.

So I'm pretty much flabbermegasted that this seems to be the gist of Facebook's new much-vaunted Social Ads platform announced this week in New York? Facebook, meet MySpace circa 2005:

Users can become a fan of a business and can share information about that business with their friends and act as a trusted referral. Facebook users can interact directly with the business through its Facebook Page by adding reviews, writing on that business’ Wall, uploading photos and in any other ways that a business may want to enable. These actions could appear in users’ Mini-Feed and News Feed, Facebook’s popular products that allow users to share information more efficiently with their friends.

I wasn't at the big press conference where this was announced, but I hope they had one of those massive balloon drops like at the political conventions, cause otherwise, I'm not sure how anyone could've guessed that this was a big deal.

And this just sounds awesome:

Facebook’s ad system serves Social Ads that combine social actions from your friends – such as a purchase of a product or review of a restaurant – with an advertiser’s message. This enables advertisers to deliver more tailored and relevant ads to Facebook users that now include information from their friends so they can make more informed decisions. No personally identifiable information is shared with an advertiser in creating a Social Ad.

So imagine GMail, except the ads go right in the body of the message, rather than along the side.

Speaking of GMail, I still think it's the best social application I've ever come across. I practically live inthere... and I've noticed that they're making it more social-networkey, which is fine, as long as they don't over do it.

Comments

[OurWorldTalks:]

Well Facebook social ads is still about the same as everyone out there, except that it is certainly extremely easy to use! I don't see Friendster having a advertising page (or was it that I couldn't find?) and for Myspace, you have to contact them for advertisment enquiry. Facebook, just enter your advertisment needs directly, and it's done! That's easy! - OurWorldTalks

2008 Jul 14 01:35 PM

[Add A Link ...:]

I understand the benefit of targeting the ad - specific facts about examples, ROI etc. would be nice

2008 Sep 24 09:15 PM

[SEO Web Mar...:]

What's The Big Deal About Facebook's Social Ads?
Article on Seeking Alpha

Facebook Marketing - It's great that as a business you can become more targeted, especially as Facebook actually shows you how mahy people each broken down category comes from.

I guess only time will tell if Facebook will supercede business advertising in the new future, possibly in the New Year. I do think businesses will hold out for another 6 months or so while Facebook Marketing and Google Marketing are compared moreso, alongside with the other internet and other source media they may use for advertising. More than likely this will result in say splitting their Google Marketing budget with Facebook and using both medias in their own right. Thanx for the interesting article!

Have a lovely day, kind regards - Susan

2008 Nov 25 01:01 PM