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Social Media Today asks what's coming next for Facebook, and what should businesses be planning for as part of their Facebook marketing strategy? This week, the company's Vice President, Ads & Business Products Dan Levy has provided a new overview of its evolving business focus, and the key elements that Facebook's looking to maximize as it continues to build for the next generation of user behaviors.
Levy outlined Facebook's four key areas of business product innovation:
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"Businesses are confronting a permanent shift in people's behavior: a migration to eCommerce that might have taken a decade exploded within a year. This, combined with growing technologies to meet people's privacy expectations, is a generational opportunity for our industry to innovate once again. We must develop new ways for businesses to reach customers and to give people more control over how their personal information is used in advertising."
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Apple's ATT update has limited data tracking capacity, and with Google investigating its own variation of the same, Facebook now has no choice but to seek new options, and work to build in new tools which enable optimal targeting and focus within these new constraints. Levy says that Facebook's working to develop new 'privacy-enhancing technologies' in order to minimize the amount of personal information that the platform takes in while still enabling advertisers to focus their promotions with optimal efficiency. Levy also outlines the growing popularity of Facebook's eCommerce tools:
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"Facebook and Instagram are fast becoming a destination to buy and sell, and over the coming years, we are building a modern commerce system to meet that demand across ads, community tools, messaging, Shops and payments. It's all in service of creating a personalized, seamless customer journey, in which it is easier to discover a product, learn about it, decide to buy it, pay for it, and find it on your doorstep."
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