Here’s an update from your favorite Internet marketing serviceplatform: According to an Internet Retailer report, Facebook plans to have real-time bidding for ad space on the social networking site.
The bidding service is going to be called Facebook Exchange and the report furthers that the Palo Alto, California-based social media giant is now working with ad networks to finalize the system.
Eventually, Facebook will be able to track down a user’s shopping behavior and enable for more targeted ads based on their off-Facebook browsing habits through cookies placed on consumers’ computers. In the end, this means better opportunities for online retailers and their Internet marketing service providers to target potential customers.
The same report adds that “the only ad format that marketers will be able to bid on is Facebook’s marketplace ads”. These ads are not available on mobile devices and these are the ones found on the right-hand side of Facebook.com. Initially, Facebook Exchange will only be available in the U.S.
An analyst quoted in the article said that this innovation can “offer a way to make Facebook’s notoriously imprecise marketplace ads more engaging.”
It is worth noting that, in the past, Facebook has shared its vision of social advertising wherein earned media is tied with the social media platform’s ad units.
More importantly, especially for online retailers and Internet marketing service providers, it is important to note that this latest effort from Facebook is not just a move to increase advertising revenue (amidst scrutiny of its ad formats). Inadvertently, it is also a boost for entrepreneurs who invest heavily on the world’s most popular social networking site.
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