Facebook has never been behind the door when it comes to addressing the challenges posed by social media marketing rivals Google, Twitter, and Apple’s iAd.
So perhaps it shouldn’t come as too much of a surprise that Facebook is once again taking the initiative.
It is understood that the social media behemoth is set to announce the introduction of a new measurement tool, or metric, which will give social media marketing firms a better insight into the effectiveness of their advertising on the platform.
The announcement is expected to be made at the Facebook Annual F8 Developers’ Conference tomorrow. Facebook believes that not only will this new measurement tool help the network to offer better competition to rivals Google: it will also allow the company to capture a greater share of the smartphone-based advertisement marketing sector.
Should the move come as a surprise to its social media rivals?
Well, not really. Facebook launched its Audience Network in 2014, giving mobile marketing firms the ability to broaden their Facebook campaigns to reach other mobile apps by way of its targeting data. Facebook also added support to its Atlas ad server, which provided social media marketing advertisers with the ability to use consumer data from Facebook in order to target them over non-Facebook ads and websites. It also recently launched the “Topic Data” data analysis tool. So the signs have been there for quite some time now.
What does this mean for advertisers? How will this new tool give them greater market insight? Well, Facebook believes the new measuring service will give those brands using Facebook for social media marketing purposes a greater ability to know whether or not an app was actually downloaded as a result of users having been exposed to an advertisement on the social network platform.
According to a report in The Information, the new metric tool will also bring other advantages. Not only will the tool help to measure the performance of ads purchased through Facebook: it will also help companies better understand the performance of advertisements delivered on other mobile apps too.
The aim, for Facebook it seems, is to help to develop and nurture stronger and better relationships with its partners and users. If it succeeds in this, then this will present great challenges for rivals like Twitter, Google and Apple iAd, as they are very unlikely to want to cede their mobile advertising space share to Facebook.
What’s more, The Information believes that if Facebook is successful, then the platform could become a far more important advertising resource for brands, particularly when it comes to desktop and mobile ads.