Launched 15 years ago, Facebook has evolved from social media, helping people to connect with each other, into an ad platform, providing multiple opportunities for brands, advertisers, publishers, and agencies to build relations with their audiences and evaluate the level of their engagement.
The collective outreach and impact of Facebook on the digital world have been widely recognized. Its functionality and capabilities are constantly improved for better performance, interface, and design which, in turn, cause an ongoing interest in its tools and features.
Therefore, the amount of active Facebook users is constantly growing. According to Statista, there were around 2.38 billion active Fb users monthly in the first quarter of 2019.
Despite the ambiguous reaction to the latest series of Facebook updates and possible further implications, it is clear that Facebook changes the rules of the game.
Keeping up with Facebook Advertising Changes
Apart from the design update and switching the focus from the classic news thread to groups and events, recent changes to Facebook relate to such tools as Ads Manager, Business Manager, and various inventory filters. In addition, the latest changes also reflect the continuation of the course Facebook took a while ago — improving the platform’s privacy and restoring its
In its article, TechCrunch clearly stated that the algorithms which were previously used by Facebook are about to change after the new Fb update. The update itself will drastically decrease the amount of clickbait content and links to ad-oriented websites. In other words, the content will be monitored more rigorously. What does it mean for affiliate marketers? This is the question we hope to find the answer to.
Facebook Ads Manager
Basically, this is the most commonly used marketing tool if Facebook is your primary traffic source. The main aim of Facebook here is to improve user experience. Major updates are going to be focused on navigation features, filters, and campaign views. To put it briefly, Facebook simplifies the process of ad creation and placement by making it more understandable. In addition, Facebook is introducing another bidding strategy called Cost Cap which will mostly focus on the volume and cost predictability.
Another important update is related to Playable Ads which is aimed at monetizing mobile games with the help of Facebook Audience Network. For gaming marketers, this update will also be a game-changer of a sort. As a new feature for gaming apps, it will improve the gaming experience by allowing users to try out the game before buying or installing it. This ad solution introduced by Facebook mostly focuses on reaching the most valuable audience or, in other words, highly engaged mobile gamers. Retention optimization, a part of the update, will enable mobile marketers to reach their audiences more effectively and help them monetize their gaming apps in a more efficient manner.
Facebook Business Manager
As of today, there is no detailed information on the Business Manager tool update. However, the onboarding process and use of the tool, in general, are promised to be seamless. One thing is clear: brand safety is going to be controlled even more after the update. The new Inventory Filter can be used for monitoring and controlling the controversial content accompanying your ads. This filter is available for ads placed on Audience Network, Facebook in-stream video, and Instant Articles.
Clear History Tool
After the Cambridge Analytica privacy-related scandal, Facebook promised to add a clear history option to the app. This tool would enable users to delete information about the websites and third-party apps connected to or associated with their accounts. The Verge stated that the testing of the tool should have started in spring, 2019. However, the testing takes more time than it was expected. The only issue here is that history removal will most likely ruin targeting features for most of the brands, agencies, and publishers on Facebook causing the availability of this tool to become a major marketing challenge.
Augmented Reality Ads
Augmented Reality is a unique way to build deep connections with the target audience. This effect is achieved by means of high-level interaction and visualization of goods and services. AR ads, basically, let potential customers try on or engage with the product via AR camera effects with the help of a simple click. This way of presenting the product will make the process of trying on/out and buying as seamless as it gets.
Libra Coin Introduction
This is not the update as much as the launch of Facebook’s very own cryptocurrency called Libra. It has not been launched yet and going to see the light of the day in early 2020. According to TechCrunch, Facebook already partnered with Uber, Spotify, Visa, eBay, and other 24 companies to bring Libra Coin to life. The financial data, however, will not be stored on Facebook in order to avoid any kind of privacy concerns. One of the main advantages that the future-to-be cryptocurrency can have over the famous Bitcoin or Litecoin is that there will not be any processing fees and any currency cashed in will turn into an almost equal amount in Libra Coins. There is still not enough information to be 100% sure about the safety of financial data but more will be known by the end of the year.
Being the most frequently used social media website worldwide, Facebook provides countless possibilities to reach your target audience. With the number of users constantly growing it becomes the most valuable traffic source, marketplace, and ad platform. Like any other advertising campaign you launch, Facebook can help you scale or make you lose money. Without a doubt, the most recent Facebook updates make it an even more challenging space in terms of targeting, content regulation, privacy, etc. However, using extra tools and understanding Facebook algorithms will make all the challenges work on you, not against you.