Marketing and Advertising Meeting the Future Ahead of Schedule
Facebook and social medias are overwhelmingly the most visited websites on the web. Facebook and twitter alone are visited by over 65% of people who use the internet on a daily basis. Now that these networks are marketing and advertising products, it is leading to Americans shopping differently but more importantly companies using different marketing techniques. Radio, Television, and all of the uses of old are still in use but are these tactics about to become invisible?Facebook the Futuristic efficient way to Advertise
Facebook, social media empire is becoming an advertising
monster. What started out as a user
friendly website working to connect friends and family has turned into a
marketing phenomenon. Companies
all over the globe are advertising products of all sorts over this social
marketing breakthrough. Ideas of
old, such as newspapers, radio, tv advertisements, are still in use which my expert Michael Ross supervisor of in-house marketing for Doctor's Vision Works said are currently efficient but could
be outdone by Facebook for obvious reasons. Facebook is looking to make money since going public, and advertising products seems to be a huge benefit to shareholders. Opportunities of social media are apparent and can connect the world. Low price, straightforward marketing, and
advanced networking, are just a couple of reasons why a company would want to use Facebook to advertise a product. In terms of advertising, many companies consider numerous approaches on how a product is best marketed. Facebook allows the company to create its own page, where the consumer can locate the product and be tunneled into information strictly about that specific product or company information. The difference between this and other tactics is that other tactics such as tv or radio, have their split second of glory and within seconds the product is off. While this is important because these mediums display the product to thousands of people, Facebook and other social networks let the consumer get a closer look. So why Facebook over other social networks like google? Michael Ross pointed me in the direction of an important debate in the marketing field which is Facebook Ads vs. Google AdWords because it shows that technology is speeding past the old uses of marketing into the modern age. These social networks are the new outlets of marketing that companies are gonna have to get use to in order to sell products efficiently and keep up with technology.Facebook the "King of the Marketing Game"
While other social networks have their own trademark ideas which encourage companies to use their services. A breakthrough for Facebook known as exchange will allow advertisers to find specific audiences or users across the web and retarget advertising that is specific to what their behavior suggests they would be interested in. Expert Michael Ross says that the toughest challenge is figuring who is the best audience for marketing and how they become interested. Exchange essentially does this part of the advertising for the producer. The twist is that advertisers can bid in real time for these users meaning that inventory can be sold to the best bidder at a better price. Google, which was mentioned earlier already has developed an exchange along with Yahoo, and Microsoft being the others. This exchange program is revolutionary because it allows the marketer and the consumer to receive massive benefits, with the knowledge of the consumers interests at mind. Facebook can close in on marketing history with the statistics that our being recorded for the new program. Before these are shown, lets go over how many users log in to the world's largest social network. Facebook comprises of over 845 million monthly active users, and on average 1 trillion page views per month. With all of these page views and users, what are the limits for Facebook exchange? Compared to other exchanges, Facebooks takes less impressions and fewer clicks to drive conversions according to AppNexus. Bizo found that Facebook exchange is 1.3 to 4.3 times more efficient than other comparable ad environments. As a company advertising a product, efficiency is everything the less money you spend brings in more revenue which is the idea behind a successful business.
Why The Future Is Bright For Facebook
The Not-So Expert
While Expert's opinions are extremely important when determining efficiency and how statistics lead to change. Let's see what the typical stranger on the street has to say about Facebook shaping the way America advertises now and in the future. When asked, the first stranger on the street agreed that Facebook is an excellent way to market a product. As advertised earlier the stranger made the point that it is a social network where people are "spending a great amount of time". The important remark that I caught from this "stranger" was that many other marketing techniques are used to draw the consumer to the marketing platform, as mentioned before the consumer is already using the website so its a given they will come across the product if advertised. Stranger number two presented me with the knowledge that she is a business owner and said that this has an affect on her opinions of Facebook. She says this particular social media spreads to friends and family at an accelerated rate which helps build a fan base for small business owners. Also mentioned was the fact that a Facebook page, allows her to receive feedback on products from fans.
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