Facebook Inc (NASDAQ:FB) is urging advertisers to be more strategic with the large amount of user information available on the social platform.
The giant online company is pushing for the advertisers to employ more creative strategies like showcasing different forms of the same advert. Facebook’s vice president of global marketing solutions, Carolyn Everson said that the advertising firms should focus on different viewer interests when incorporating the different tactics.
Everson also plans to bring marketers on board so they can harness the opportunity to use the social network’s targeting data. The information will be targeted towards Instagram. Facebook will feature the efforts during agency partners and client meetings that will be held at the Cannes Lions festival IN RANCE. The meeting will be hosted this week in what has been described as the biggest annual global meeting for marketers and advertisers.
The new efforts are part of Facebook’s strategy to enhance its presence in the $45 billion international advertising market. The company estimates its current share of the market at 8%. Everson claimed that the company aims to give the creative community a clear understanding of how powerful the firm’s data is. She also described the advertising event in Southern France as a preparation for the Olympics or the World Cup.
The firm has already been using its data to target ads on Instagram. However, there have been limitations particularly based on gender and age but the firm is already working to make changes. Diversified strategies work best as studies have revealed. Major companies such as Toyota have been using the same approach where they first introduce different versions of the same advertisement for diverse groups.
Facebook Inc (NASDAQ:FB) plans to use the same strategy to make advertising easier in the next few months. The company has been capitalizing on advertisements for a long time, and that has taken up a large percentage of the company’s income.