For many years, Facebook marketing has primarily been used for building brand awareness and increasing engagement. While building brand awareness and increasing consumer engagement certainly lead to conversions, it is a challenging thing to measure. For that reason, it has left many companies opting to do less with their Facebook marketing than with other online marketing avenues. But that is all about to change.
In a recent report by eMarketer titled, “Facebook Advertising: Next Steps for Brand Advertisers,” it’s clear that Facebook’s new direction is changing the way marketers will utilize the social media platform. Facebook has increased its focus on direct-response advertising—meaning that the goal has shifted toward conversions and away from building brand awareness.
There are many positives to this change, but marketers will need to adjust their Facebook marketing strategies accordingly. This includes finding other ways to engage and build brand awareness as well as learning the best way to utilize Facebook’s direct-response advertising options.
One of Facebook’s foremost challenges is changing the way marketers, brands, and businesses see the role Facebook can play in their online marketing campaigns. Nonetheless, Facebook is a power player in the advertising industry and it is estimated that their global ad revenue will increase by over 56% in 2014.
The bottom line: if your Facebook marketing strategy has not drastically changed in the last 12 months, you are likely not utilizing Facebook to its full potential.