Invest In Facebook
This blog post may be me going off on a bit of a tangent, but it’s something that’s been on my mind recently. I do a lot of advertising on Facebook. I’ve tried doing mobile ads, newsfeed-only ads, ads targeting doctors, ads targeting business school students, ads targeting veterinarians, ads targeting women who are likely to purchase luxury goods, etc. I’ve seen Facebook’s advertising platform from a whole bunch of different angles.
Why am I saying to invest in Facebook? It’s mainly because the potential for success in advertising on Facebook is absolutely massive, and yet currently it can be very difficult to use the platform effectively. Facebook makes it very difficult to have a lot of success advertising on its platform. If and when they get these issues figured out, the advertising revenue that they will be able to command will skyrocket. That is why you should invest in Facebook now.
I’ll try to give a few examples. Let’s say you want to target dentists only on Facebook. There’s a few dental associations that you can target on Facebook, so you would maybe try to say “show this ad to anyone who “likes” any of these dental associations.” That could work, but you are definitely going to target a lot of people who aren’t dentists and who just so happen to “like” the associations on Facebook. How do you think you could get around this? Well, you might say that a dentist would be more likely to “like” a bunch of different dental-related associations. Currently, Facebook does not allow you to target people by saying “target people who like this AND this AND this.” You can only target OR and not AND. Luckily, a new tool was developed outside of Facebook that allows you to fix that problem, but this goes to show that Facebook advertising has a long way to go.
This was just one example. I could go off on a rant and provide a whole bunch of examples where Facebook simply falls short in my opinion. Just understand that if Facebook ever fixes these problems, and I anticipate that they will, the revenue they will be able to command from advertising will skyrocket.
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