Facebook has introduced a new advertising model to suit its social networking genre. Is this model right for you?
In general, I could not care less what Facebook or Google did or did not do. It is annoying to see “CIO news” include press releases from these companies and the other usual suspects – Intel, Cisco, IBM etc. It is a total and complete waste of time to hear about the latest processor from Intel unless there is a way to connect it to business value, more importantly to MY business.
In any event, this piece of news from Facebook needs some attention from senior executives managing eBusiness. The company just introduced a new model for advertising. This is an opportunity for you if you want to advertise on the site and get your piece of the site’s success. It is also an opportunity if you want to learn about eBusiness models in the Web 2.0 world – Facebook has introduced a novel way of monetizing their traffic in line with their business model.
The new advertising model allows advertisers to get in Front of the Facebook audience using the power of endorsement. It is not a direct endorsement model but conforms to the social networking genre. So here goes. If you are Amazon and I bought a book online from you then you can present that fact to my network on Facebbok. Get it?
I do have a choice of not allowing you to present that fact – to my network or any other. But you have little choice in seeing the ad.
So the good old banner and popup ad in your face and whether you like it or not is being replaced with a less intrusive and on paper more effective model. The question is: will it work?
Well, you will have to wait and see. And so are we!
