Photo: Lucy Jacobs / Spruce Media
Facebook is continuing to roll out more new ad products, keeping up a dizzying pace of new features, tweaks and opportunities for the thousands of clients who spend about $1 billion per quarter in paid media on the site.Facebook has been under fire recently from advertisers who are unhappy that the reach of their organic page posts has been restricted — meaning that they’re required to pay to promote posts to ensure that all their fans see them. To solve that, Facebook created a new “Pages Feed” which aggregates posts only from Brand Pages users have liked.
We talked to Spruce Media COO Lucy Jacobs recently, as she celebrated raising another $15 million in funding for her Facebook ad buying platform (and a $150 million client-spend run rate in Q3). She told us that Facebook just isn’t quitting when it comes to creating new ways to advertise on the social network.
Here are the three areas clients should expect to see Facebook launch new products in soon, she said:
- Mobile: Facebook has seen much more effectiveness in its mobile ad products than its desktop ones, and is therefore “iterating some more around mobile adoption,” Spruce says.
- Direct response: Advertisers on Facebook generally want consumers to click and then buy products. It’s a social shopping engine for many of them, rather than a corporate image booster. So look for products that boost direct-response oriented advertisers.
- Analytics: Obviously, advertisers want as much performance data as possible. And Facebook’s vast trove of data on consumers is unmatched among social media properties. So the company will be rolling out new ways for clients to slice and dice their data. UPDATE: Right on schedule, Facebook at 10.50 a.m. just announced an enhancement of its Ads Manager for measuring coversion rates. With optimised CPM, marketers can now create a unique snippet of code to add to any page on their website which they want to measure conversions (checkout pages, registration pages, donation pages, etc.), a spokesperson tells us.
Jacobs declined to be more specific about exactly what’s getting launched next, but she did surprise us when we asked about the new Facebook Want button — which seems a natural partner for Facebook Gifts. Were her clients — who include Procter & Gamble, Samsung and University of Phoenix — interested in working with the Want button? “Not that much, no,” she says.
Disclosure: The author owns Facebook stock.
- $150M In Facebook Business Gets Spruce Media A $15M Funding Round
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