Can Facebook build a strong profits model out of its advertising platform? This is actually the big question that the majority of individuals are asking of late, particularly given the social giant’s IPO fiasco. Having its more than 900 million users, it’s obvious that customers are fond of the service. However, the question of how Facebook can monetize each one of these users is the big concern now, specifically since it must deal with Wall Street as well as investors.
Tom Rikert, the Director of Product Development at Wildfire, which is really a company that works closely with Facebook and provides a social media marketing software suite, is familiar with the position that Facebook is up against. You see, Rikert used to work at YouTube and, of course, also faced the challenge of monetizing a massive amount of users through advertising.
In accordance with him, Facebook is the focal point of the majority of brands’ social networking efforts. Through Wildfire’s close relationship using the company, it realizes that Facebok has a large audience, a global reach, which it allows for rich forms of engagement for brands by using images, video, and more.
“We find brands are finding Facebook… to have a lot of staying power, and ultimately… they’ve built an audience [and] they’ve accumulated a lot of fans,” said Rikert.
“The question is now,” he continued, “what do I do with them to really engage them and to enlist them as advocates for word-of-mouth marketing and to also help them become customers, not just fans or conversation partners?”
Even though this is a challenge, Rikert is certain that Facebook can succeed in its advertising efforts. As he told to us, Facebook has a “treasure trove” of data. This, put together with its user base, may potentially give the social giant lots of leverage on the advertising front.
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Cited from Webpronews