“During my 12 years at Facebook, I focused on a single task: building meaningful relationships between people and businesses,” said Dan Levy, vice president of advertising and business products at the company, the new post on Facebook’s blog. Levy notes that the company has done a lot of actions as part of this move – like setting a standard for custom ads so that businesses can reach the right customers.
According to the social network, creators and businesses have resumed their activities despite the various challenges like the corona. “I get motivated every time I learn how much we have a part in their success,” Levy said of the businesses that grew in the Facebook arena, writing on the blog an example of a Belgian ice cream shop that made deliveries during the Corona. The same store owner said he was unable to “survive without the ability to produce custom ads with Facebook”.
This blog post comes against the backdrop of the ongoing battle between Apple and Facebook. A few months ago, Apple announced a new feature as part of the iOS 14.5 operating system, which has already gone into effect – App Tracking Transparency: that is, giving users control over their privacy and acting for more transparency. IPhone users will receive a pop-up message informing them that the app they are using is interested in monitoring their information from external sites and using it for various uses. In other words – when you go to different services and claim interest in such and other products or services, it will be possible to study your interests and offer you targeted and tailored advertising for you. Facebook has been particularly apprehensive about this move because of its widespread use of information gathering to match advertisements.
Levy commented on the blog that there are reopening markets and businesses that need to adapt to the new world. “The transition to e-commerce could have happened in a decade, but it has accelerated in the past year,” Levy wrote, updating on four areas in which they intend to develop.
The first area is technologies for improving privacy. Levy quoted John Vanameiker, the former general manager of the U.S. Postal Service, as saying “half of the money I spend on wasted advertising. The problem is I don’t know which half.” According to Levy, Facebook has been able to maximize advertising efficiency and actually help businesses move to accurate custom advertising.
In addition, Levy stressed that this personalization does not infringe on privacy. “This is why we are developing privacy-enhancing technologies that will help minimize the amount of personal information we process and yet allow us to display relevant ads and measure their effectiveness,” Levy wrote.
These technologies will form a vital basis for online advertising in the future, according to Levy. Facebook does not remain indebted to Apple, and decides to stick a wedge in the eye: “For these technologies to work and help all businesses, it requires collaboration across the industry, like privacy standards and other practices.”
In fact, Facebook continues to blame Apple, which in doing so is harming small businesses that have become dependent on Facebook-targeted advertising. It should be noted that this is an argument that has been inflated by many of the social network, although due to the particularly dominant position of the social network in the field, it must be believed that there is truth in the claim. Many businesses have become dependent on the social network, as it is a major arena around the world.
The second area is business and product discovery. 200 million businesses use the company’s free tools according to Facebook data, such as a Facebook page or Instagram account. Alongside this, 10 million pay for the company’s advertising tools. Facebook says that no matter how users operate on the platform, they are working on tools and developments that will help users better discover businesses and creators. Among the developments – the company is exploring a new experience in the news feed of businesses and products related to the company it follows or using smart recommendations – for example, watching a tourism video, the algorithm will recognize it and know how to display ads for flights and hotels.
The third area – trade. One in three consumers around the world say they are interested in spending less time in a physical store even after the Corona is over, another Facebook figure featured in the post. According to Levy, “Over the next few years we will build a modern trading system that will meet the requirements of all ads, community tools, stores, payments and more. All to create a journey for a customer that is customized for him, where it is easier to discover a product, learn about it, decide whether to buy it “Pay for it and find it at your doorstep,” he wrote.
The fourth area is business tools, other than marketing. “For businesses, time is just as important as their budget. We want the best minutes and dollars they save to be on Facebook, and that requires much more than just better tools for buying ads or posting updates,” Levy writes. So they talk about different solutions related to customer relationship management, business messaging or recruiting.
Levy concluded the blog with a vision: “We are building a new era of personalized experiences, where people have more control, choice and transparency in their data than ever before. People, businesses and creators will be able to gain new opportunities and ways to connect, grow and thrive.”