The battle between Facebook and Google to expand their respective kingdoms over the virtual world doesn’t seem to stay within the content quality, usability and search engine algorithm updates. At least, the social media giant’s recent initiative to upgrade its ad-buying platform indicates clearly that a lot of excitement is still pending.
It hasn’t yet been 2 weeks full till Google has rolled out its consecutive search engine updates, an improved and smarter Knowledge Graph and Hummingbird. There are adequate reasons to believe that these changes have been made with the intention to overshadow the attention that Graph Search was receiving as the supreme handler of natural language queries.
The reply from Facebook came swift and sharp. At the same time, a clear message the biggest social networking platform has delivered that in every way they are ready to take this game of getting trumped and over trumping Google to a newer level. This time it will be ads. Facebook gave social media marketers and online business owners the hint about refurbishing its traditional methods of purchasing ads earlier this year. It was only yesterday that the team announced successful completion and rolling out of the facility for marketers.
An Overview of Changes in Facebook Ads that Spices Up the Competitive Environment:
According to the company’s declaration, they thought about executing the change after receiving objections from business owners regarding selection of an ad unit prior to creating an ad or starting a campaign; rather, the feedback providers have expressed interest in meeting an objective. Based on these feedbacks, Facebook broken down the entire set of objectives into eight exclusive parts, namely:
- Clicks to Website
- Website Conversions
- Page Post Engagement
- Page Likes
- App Installs
- App Engagement
- Offer Claims
- Event responses
From now on, the process of purchasing ad on Facebook will have a headline, more like a question: “What’s your advertising objective?” and the above-mentioned objective categories will come under this. In order to complement these changes properly, the most renowned social networking site has also updated its Ads Manager tool, which from now on, will provide marketers with a better insight of about performance of their ads and campaigns, thanks to strategic linking of the ad with the objective chosen. In this way, marketers will get to know the list of objectives they need to meet, extent of success in accomplishing the goal and finally the expense they had to bear to achieve the respective objectives.
Why Does Facebook’s Decision Come With the Smell of New Opportunities?
Despite the fact that neither Google nor Facebook have suggested anything explicitly, but their respective objective is to attain an undisputed control over web, as a whole. This is the sole reason that driving either party into the competition to transform themselves in increasingly user-friendly manner. Google has come up with a worthy reply to the unprecedented advancement that Graph Search exhibited and the domain of online ads was and still is majorly under control of Adwords. In fact, Google, very recently, has introduced the feature of estimating cross-device conversions. From now on, owing to this improved and smarter feature, companies will be able to trace and measure any conversion that has initiated through Adwords and completes with payment transaction, whether done via a portable device or in-store. In order to perfect the extensive and complex process, the company has also implemented several useful updates, such as, flexi conversion windows, ability to track cross-account conversions, bid simulator that help in adding figures about conversion. However, online advertisers are finding the update, allowing import of offline conversion data, most useful.
Had this issue not been attended in a timely manner, Facebook would have been left behind in this competition – something that it clearly can’t afford at this stage of advancement. An estimate of the last year (2012) shows that in terms of earning revenue from online advertising, Google has left Facebook miles behind. The search engine giants have also dominated the global ad market share, expect in the US-specific setting, it was defeated by social networking giant by fractions. It is from the same source, we get to know that Facebook ads have the capacity give users with the ROI, thrice the investment, while in case of Adwords the return is just twice.
Facebook clearly understands these limitations and knows how to capitalize best on the strengths. Due to these reasons, the decision to upgrade the Ads Manager comes not only as a timely action but also with the promise to add elements of further interest and benefits in this scenario of healthy competition.
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