Facebook Unveils New Advertising Platform

 In Product Releases/ Updates

Facebook is constantly changing its platform. Many of the platform’s most recent updates have been around the mobile advertising format. Last year, the big announcement was the unveiling of Canvas, a platform that facilitated faster loading times for rich media advertisements, particularly on mobile devices.

This week, Facebook unveiled Collections. Collections is a mobile advertising platform that will help mobile retailers by tailoring ads for collections of products the consumer likely has interest in. Facebook collects a lot of personal data on its users. With this data, they can gauge a consumer’s interest better than retailers can and those same consumers are likely using their Facebook app more than a retailer’s app or mobile website.

Facebook is helping to solve two challenges retailers face: (1) getting people to visit their mobile sites and apps; and (2) trying to find ways to tailor products and offers based on the particular consumer preferences and interests. According to PYMNTS.com, “As the eCommerce trend continues to grow, these new Collections will appear inside Facebook users’ newsfeed and take consumers to retailers’ mobile sites if clicked on.”

PYMNTS also cited a recent Gartner Research report which predicted that 85% of all enterprise interactions will be done without any human interaction by 2020. Facebook Collections is a step in the right direction for the social media giant.

Facebook is not new to marrying user data with advertising and shopping. But Collections takes this one step further. Thoughts on Facebook’s attempts to marry their user data with shopping?

Source: PYMNTS.com

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