Facebook, now has 150 Million active users. If you have been on Facebook lately you’ve undoubtedly seen the ‘targeted ads’ when viewing other’s profiles, or maybe you haven’t. That’s what we’re going to talk about today.
Does advertising on Social Networks actually work or are customers ‘ad blindness’? I have not seen any reports released that state click through rates and conversion rates from Facebook just yet. I have my feelings that they are on the way though!
Let’s think our way through this idea of advertising on Facebook… Why do people go to facebook? To get up to second news on what’s going on in all their friends lives right? They need that constant feed of news and gossip so they that never feel left out of the circle! While they’re on facebook are they actually looking to buy or be advertised to?
My immediate answer would have to be No! When I’m on Facebook I don’t want ads to be sprayed all over the pages I just want to look at what my friends are up, what’s going on in their lives! However. Lately I have found myself clicking on a lot of ads! So I don’t believe consumers have ‘ad blindness’ I think the ads just need to be more tightly targeted.
Of course this is what Facebook has done. They have recently released their newest version of their ad market place with more tightly defined ad targeting. You may ask what ads have I been clicking on, (or maybe not)? I tend to click on ads that are relevant to me and my interests! WOW amazing concept isn’t it? I actually want to hear about stuff that is relevant to what I want. Now granted a lot of theses are for upcoming concerts in my area, but hey they know I like music so that’s why they are displaying these ads. Relevant is more loosely defined on Facebook than it is on Google of course, but they are in the Social Network biz not Search Engines!
As I said in the opening I have not seen any reports yet on Facebook click-through or conversion rates but I would have to suspect that the ads are getting better and better conversions! As long as Facebook keeps improving their ad marketplace with tightly targeted ads then it can be a fairly attractive option to start placing PPC ads! I do believe you can find your market out on Facebook, however you might be better off starting with a Social Network that appeals to a more narrow demographic!