With the constant changes to Facebook’s platform, B2B marketers are already challenged to connect with customers and prospects on the platform. Now they are talking about making it worse. It makes me wonder why Facebook hates B2B companies. Was Mark Zuckerberg bit by a B2B company when he was a kid?
Social media site Mashable published an interview this weekend with Brad Smallwood, Facebook’s head of measurement and insights, where he discussed potential changes that Facebook is considering for measuring advertising success on the world’s largest social network.
Advertising on Facebook is currently measured using click through rates (CTR), as is most other online advertising. Smallwood is working with Nielsen to develop a system that considers the result of people’s exposure to the advertising, and if it changed people’s awareness of the product or the message. This sounds like he wants to bring the unmeasurable brand advertising of television to Facebook. You know where Nielsen got its start, right?
Facebook has created a platform where it doesn’t value its users and their privacy. They are just the creators of the product (their data) that is sold to advertisers. And businesses who don’t advertise are given a system of tools that is stacked against them of ever connecting with their customers and prospects.
B2B companies need the rigor of data to track their success in the online world. They are not coming to Facebook for a brand lift. They are looking to generate leads or new business from existing customers. One of the ways to break through the ever changing “Top News” algorithm is by using the advertising platform. They need to be able to track clicks on the ads as the first step to the top of the sales funnel. Whether those ads direct prospects to content on Facebook or on the company website, it is critical to have the click data.
Facebook CTR is low by online ad standards and if you start measuring intent for the already small audience of many B2B companies, rather than clicks, it all becomes irrelevant. If you have a B2B company that can benefit from this change in tracking, we would like to hear about it. If you think I am off-base, or I’m missing something, let me have it in the comments.