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What You Need to Know About Facebook's Evolving Business Focus

Social Media Marketing

If you’re an iOS user, then you’ve probably seen the latest “Ask App Not to Track” update.  

In case you’re not one, the feature gives you the option whether to prevent or allow apps to track and collect your data.  

As an internet marketing Miami company, we know how important data is when it comes to creating personalized experiences and presenting the most relevant ads to users to drive sales.  

However, over the last few years, users have become increasingly concerned about data privacy. This is primarily caused by their growing awareness about how companies are using their data.  

So, in a way, this new IDFA (Identifier for Advertisers) policy is an answered prayer to users. But, it’s something advertisers are very much against - so much so that Facebook protested against Apple’s update.  

Then again, why should you care?

Well, Apple’s new data privacy policy can deeply affect your business. It’ll be more difficult and expensive for you to effectively target and reach your intended audience online via Facebook Ads.  

Customer data is the key to getting customer attention and winning them over. Without it, your chances of closing deals and making more sales online will be less.  

So, what’s Facebook’s next move, and what should you do to deal with this change?

In this article, we will discuss the four key elements that Facebook is looking to optimize to cater to the next generation of user behaviors - specifically on giving users more control over how their data is used in advertising, while still enabling advertisers to implement effective promotions within the new constraints.  

Without any more delays, let’s get started!

What Are Facebook's 4 Key Areas of Business Product Innovation?

Facebook Ads & Business Product’s Vice President, Dan Levy gave an overview of Facebook’s evolving business focus in response to new data privacy policies, including the key elements the company is looking to maximize to accommodate the next generation of behaviors.  

Privacy Enhancing-Technologies

data-privacy-phone-lock

In response to Apple’s ATT update, which aims to limit data tracking capacities, and with Google looking to create its version of this update, Facebook is now working on building new tools that will allow the platform to implement effective targeting within these limitations.  

But before that, the company’s first step was to develop privacy-enhancing technologies that help minimize the amount of personal information the platform gets from its users. This allowed them to give people what they want, which is to have more control over their data.  

Facebook is also working with industry partners and organizations, such as Partnership for Responsible Addressable Media (PRAM), the World Federation of Advertisers (WFA), and World Wide Web Consortium (W3C) to construct key best practices on this subject.  

If you’re wondering how the ATT update is faring, recent stats from AppsFlyer show that about 42% of iOS users are choosing to allow data tracking when shown Apple’s ATT notifications. However, this shouldn’t worry you because Facebook is dedicated to finding better solutions for advertisers like you and guiding you through the changes.  

In-Stream Purchasing Tools

online-shopping-mobile

Ever since the COVID outbreak, billions of people now visit the Facebook Marketplace every month, while the Facebook and Instagram Shops, which were launched recently, gained about 300 million monthly visitors.

To handle the growing number of people shopping, Facebook is looking to expand its in-stream purchasing tools to cater to changes in shopping trends and behaviors.  

According to Levy, Facebook is testing numerous new experiences, including the following:

  1. Maximize product discovery in users’ News Feeds by allowing people to browse and follow content from different business categories they’re interested in - such as fitness, food, clothing, etc.  
  1. Improve ad placements based on the content users are most responsive to or are interacting with.  For example, if you’re watching beauty-related videos, Facebook will show you ads for make-up and skincare products.  
  1. Place Small Business badge on ads. With people looking to support local brands and small businesses recovering from the impact of the pandemic, placing a ‘Small Business’ badge on ads can encourage engagement from Facebook users.  
  1. Bring shops to WhatsApp to make it easier and more convenient to find the products or brands that users want to engage with or buy from. Facebook will also provide business owners with what they call a ‘WhatsApp Business API’ which will allow them to respond to WhatsApp messages faster, update their inventory, and sell products through chat.  
  1. Improve Facebook Pay to provide another easy contactless payment option for consumers across Instagram and WhatsApp.  

Facebook is expecting its platform to be the go-to destination to buy and sell. And so, it is working to provide a modern commerce system to meet the future demands of buyers and sellers over the coming years.  

Improved Business Management Tools

business-man-with-business-management-tools

Facebook is looking to improve its business management tools and processes to make it easier for sellers on the platform to connect with customers and grow their business. Here are the new Facebook tools that are going to make doing business online effortless.  

  • Professional Dashboard is a new dedicated business News Feed that will allow you to build a community and manage your Facebook page without leaving the app.  
  • Additional features for Facebook Business Suite, such as schedule and publish Stories on mobile and desktop, edit scheduled posts, and save posts as drafts, to help you save time and provide an easier way to create and schedule content.  
  • Conversion Leads are one of the new optimization goals for ad campaigns that will let you find and connect with your most interested customers faster.  
  • Integrate CRM data to Facebook is another ad optimization feature that will help increase your lead-to-sale conversion rates.
  • “Call Now” button in the ads feature is a new Calls optimization goal that will help make it faster for businesses to connect with their customers in real-time and at a lower cost per call.  
  • Messenger template feature for Lead ads form to start messaging your potential customers easily.  

As an internet marketing Miami agency, we believe that these tools are what small business owners like you need to further propel your business in the post-ATT environment.  

Improved Job Listings Feature

Facebook plans to enhance the business experiences by further improving its job posting options and adding new features like resume uploads on profiles, which will help expand the platform even more.  

Looking for an Internet Marketing Miami?

It’s good to know what Facebook’s new evolving business focus is, specifically on where the platform is looking to improve the experience. This will give you an idea of what to expect and what you should be planning for as a part of your Facebook marketing strategy.  

If there’s anything you should focus on after reading this article, it’s the fact that Facebook will always find ways to deliver better solutions for advertisers in the post-ATT environment.  

If you’re new to Facebook advertising or want to further increase the leads and sales you get from social media ads, don’t hesitate to ask for professional assistance.  

Digital Resource is your go-to internet marketing agency in Miami. We can help you get the leads you need with Facebook Ads!  

Contact us today to know how we’ve helped other small business owners in Miami achieve success and how we can do the same for you.  

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