Oh No! Facebook has my data! Is that bad?
This week’s topic is a bit more controversial than my last posts. Facebook ads have long been debated over because many people feel an invasion of privacy. It is hard to take an unbiased stance given the fact that I am looking at Facebook ads through a marketing lens, but first let’s start with some definitions.
Facebook has three different segmenting tools that I will be discussing: Core Audiences, Custom Audiences, and Lookalike Audiences. Core audiences are the people that fall into your “perfect customer.†As a company you have already determined where this consumer lives, what their demographics are, what they are interested in, and their behaviors. Facebook Core Audiences then finds these Facebook users and shows them ads targeted specifically at them.
Custom Audiences are the people that “you already know.†This comes from the customer data of people who have already had an interaction with your business. These people are on your contact lists, have been site visitors, and are also app users. Facebook is just another medium to contact these people.
Finally, there are Lookalike Audiences. Lookalike Audiences are an incredibly effective way to cast your net far and wide. You have data on the sort of consumer you would like to attract as well as data on people that have had interactions with you in the past. This lookalike feature targets Facebook users that look like these prospective or past customers. They may not physically look the same, but Facebook can show ads to people with similar preferences to those already connected to your business.
I wish I could use personal anecdotes to support the consumer side of Facebook ads, but my Facebook is so out of date that my prom pic is still my profile picture. First let me tell you a little bit about myself. I’m an open book when it comes to sharing my data online, so I have never really felt uncomfortable with Facebook and google using my data. That being said, I can see why others are much less inclined to be open on the internet.
From a consumer’s perspective, Facebook needs to be more open about their data usage. Even a good act done in secret warrants the questions, why couldn’t we all know about it? What else are you hiding? Marketers are digging themselves out of the hole that salesmen in the 60’s and 70’s threw us into. People are still not very trusting of marketers and that’s why ads make many people uncomfortable. To a consumer, a marketer with their information just makes it easier for the marketer to push unhelpful and unnecessary products at them. I know my bias is transparent at this point, but it is worth noting that marketers need to start marketing for their industry, so that public opinion might sway in their favor.
From a marketing perspective, Facebook ads are exciting. As a marketer you have an incredible opportunity to find even the smallest niche market and offer them your product. With today’s focus on relationship marketing, Marketers can send non-intrusive ads specifically to those who would most like to see them. Yes, it is a little unsettling that Facebook seems to keep its data usage under wraps, but if my faith in humanity serves… that data can be used to get the right people the right information to improve their lives.
I actually have a lot more interaction with Instagram ads more than anything else and they have been very well done to the point where I didn’t even realize the content was an ad. This is where I see the potential for paid social media advertising. Because I am interested in the products or services being offered, I do not feel bombarded with unwanted ads.
“Each platform offers a plethora of targeting parameters. Beyond basic user demographics, you can choose from psychographic factors such as interests, hobbies, personality types, and more.†This enhanced targeting is what makes me want to watch an Instagram ad all the way through. That plus the recent gravitation toward content marketing. These two opportunities on social media allow for relevant and interesting promotions that hopefully will become more and more welcome as time passes.
Links:
https://themanifest.com/social-media/7-reasons-consider-paid-social-media-advertising
https://blog.hootsuite.com/social-media-advertising/
https://www.facebook.com/business/ads/ad-targeting#core_audiences
https://www.facebook.com/business/learn/facebook-ads-reach-existing-customers
https://www.facebook.com/business/learn/facebook-ads-lookalike-audiences