Build it and they (us) will advertise for us (them). Genius. If it works.
For a long time now web marketers have been struggling to get heard above the din of flashing web animations and banners. No longer. If you ever wondered how social networking giants Facebook and MySpace made money (and why they’ve in turn been purchased by megamedia companies Microsoft and Fox), wonder no more. It’s target marketing. And it’s powerful. Or at least some are betting it will be.
If marketers believe in numbers, Facebook is betting they can deliver them. Facebook Ads (powered by Facebook Beacon) is a viral marketing distribution system wherein Facebook members are “empowered” to share (recommend) their product and purchasing habits with their online buddies.
To make this work Facebook, to the displeasure of many, lifted it’s longtime ban on member profiles that weren’t actual people. Corporations wanting a piece of the social marketing action can now create brand-specific profiles, but unlike your average-joe-Facebook-member, they’ll be tracking the behavior of their Facebook friends.
Think about marketing distribution channels for a second. Millions of dollars spent to advertise in print and on tv stand to be replaced by….us. And we’re cheap (free).
It’s not like everyone in the socialsphere is chomping at the bit to market to their online pals, but the fact is it’s a seemingly natural attempt to co-opt a fairly normal offline behavior. The markets as conversations crowd sees this all as incredibly natural.
Since Facebook’s announcement there’s been plenty of criticism. There’s the typical rants against insidious stealth advertising techniques, but privacy concerns are the primary cause for alarm. It may even be illegal. But I doubt it.
Don’t worry, the government is getting involved, so it will all probably work out.