Facebook Ad Targeting Is Changing, Are You Prepared?
Big Changes Are Coming To Facebook Ads, How To Convert Patients & Customers Into Leads Moving Forward
Months ago Mark Zuckenberg spoke in front of Congress about privacy issues resulting from how the political firm Cambridge Analytica gained access to more than 50 million Facebook users. Unbeknown to users, Cambridge Analytica was mining data from users profiles for financial gain. The firm would provide political campaigns access to the data on millions of Americans so they could try and influence their behavior and political views. As a result of this news, there was fallout on the advertising division of Facebook.
Before We Get Into What’s Changing, Let’s Review What Facebook Allowed You To Do
Facebook is the largest repository of data on individuals online today. Facebook’s data is worth a lot of money to advertisers. We willingly give Facebook this data. We let Facebook know our interests and behaviors by using all the tools provided on their platform. Their algorithm and AI (Artificial Intelligence) software log everything and pay attention to every click, like, post, comment, share and/or reaction to the information we see on Facebook. All this data allows Facebook to offer this to it’s advertisers for a fee. Facebook then allows you to target specific user demographics.
In addition all the data users provide directly to Facebook, they also partner with companies such as Axciom, Oracle, Experian and Epsilon that provide purchase data. This is why Facebook’s Ad Platform has become so valuable to advertisers.
When advertising on Facebook, you have many options. First you need to decide if you want to build Likes/Followers to your Facebook & Instagram pages, Branding & Awareness, Lead Generation or Remarketing.
What’s Changing Soon With Facebook
Over the last few months Facebook has made changes to how you’re able to target users with ads. This was slowly implemented and they have begun removing third party data providers, soon all third party data providers will be removed from their advertising platform. As an advertiser, you were able dive deep and target specifically who was going to buy your product or service. That will now be more challenging since Facebook no longer is providing access to this detailed user information. If you have a specific “avatar” of who your customer is, we can deliver ads to that specific group of people day in and day out.
As an advertiser I could be very specific on who I target ads to giving me a better chance to convert users into customers. Here are a couple examples:
Auto Dealers:If I own a BMW dealership, it would be very valuable to be able to deliver ads to users that only fall into the following categories.
- Users 30 Years or Older
- Who Own a BMW
- Who Own a BMW 5 Years or Older
- Users Who Earn $100,000 or More
- User Who Own A Home
- User Who’s Home Value Is $500,000+
- User Who Is Looking To Buy In The Next 90 Days
These data points would obviously change based on the dealerships location.
Real Estate Broker:
- Users 25 Years or Older
- Users Who Earn $75,000 or More
- User Who Is Looking To Purchase A New Home
- Users Who Are A First Time Home Buyer or Who Has Owned For 5 Years
Based on who your buyer is, the data points change.
As you can see, the detailed targeting provided by Facebook Ads is very valuable if you’re an advertiser. Targeting specific groups of users that have shown interest in your product or service gives you a better chance to capture a new customer.
What Should You Do With Your Facebook Ads?
All this being said, you’re not losing any “users”, just some of the detailed targeting. Facebook is still going to be a viable platform to spend your marketing budget. Facebook still allows you to narrow down your targeting over thousands of data points. If you currently advertise with Facebook, when you log into your Ads Manager and look under targeting you’ll see what demographics are going away. If you are losing some targeting options, Facebook will suggest alternatives to try to target users as close what you did prior.
Moving forward, it’s still very important to understand who your ideal customer or patient is. Based on your industry, it may be harder to target because you historically relied on the data provided by third parties. Either way you need to go into the psychology of a person along with their guying habits & interests. There are still plenty of data points to utilize that will be valuable to your business.
InnoVision currently runs Facebook Ad Campaigns in many industries. If you have more questions on how to target your ad campaigns with these new changes or are new to Facebook Ads, Contact us at one of our two locations. Downtown Sacramento or Downtown Petaluma!
Founder – InnoVision