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Facebook’s Open Graph Provides Marketers with New Opportunities

Facebook Ads1 Facebook’s Open Graph Provides Marketers with New OpportunitiesAt the recent Facebook f8 developer conference, Facebook unveiled two new features: Timeline and Open Graph. Timeline, which is replacing the current profile pages, will highlight important photos, events, and activities. Open Graph, which will usher in a new era of apps, will enable Facebook users to easily share experiences together in realtime. Although Facebook will undoubtedly claim that these changes were primarily made to provide a better user experience, the higher levels of engagement and better data will result in revenue growth.

With the introduction of Open Graph and lifestreaming, Facebook users will be able to instantly share activities with their friends without being required to grant apps permission each time. As a result, Facebook users will be sharing more data with friends, Facebook, and marketing companies than ever before. With the help of Graph Targeting and the better dataset, marketers will be able to deliver specific marketing messages to the optimum target market.

Until now, marketers had to rely on Facebook users either checking in at a location or clicking “Like” in order to create a “Sponsored Story.” The Open Graph will now provide advertisers with many more opportunities to create Sponsored Stories through a variety of actions including: online purchases, playing a song, or watching a movie. Sponsored Stories, which convert at much higher rates than traditional internet advertising, place a friend’s endorsement on a product or service.

Gokul Rajaram, Facebook’s product director for ads, said the following regarding Facebook’s ads:

“Marketing on Facebook is all about social discovery, which is how you learn things from your friends.”

Although the new advertising options are exciting for internet marketers, these options will require a change of marketing strategy. In the past, most marketers simply encouraged Facebook users to “Like” a brand. Now, marketers will have to facilitate the “social discovery” of brands using the new data and compelling advertisements that introduce the social aspect of advertising.

In addition to the new features and partnerships, Facebook announced they now have over 800 million active users. This number, along with the recently developed features, should help Facebook exceed the $3.8 billion of projected revenue for 2011.

[Sources Include: Forbes, Marketing Pilgrim, & Facebook]

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David Angotti

After successfully founding and exiting an educational startup in 2009, I began helping companies with business development, search engine marketing (SEM), search engine optimization (SEO), conversion rate optimization (CRO), online marketing, mergers and acquisition, product development, and branding. Now, I am focused on a new startup in the travel and tourism market niche.
0c15e0b63451c1383c65f73c9084b747 64 Facebook’s Open Graph Provides Marketers with New Opportunities

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2 thoughts on “Facebook’s Open Graph Provides Marketers with New Opportunities

  1. I love Facebook and time line is the biggest change that everyone is loving it. Facebook is getting more more users need and passion to stay connected than just a social networking site.

  2. In my opinion,.Facebook is not really helpful for business in terms of driving leads or sales.

    Its usefulness lies in increasing brand awareness which could potentially help your business but I fail to see it as a useful online utility for marketers.