When isn’t Facebook in the news? It seems that, no matter what, there’s always a story. Facebook stock has gone down! Facebook stock as gone up! Facebook changes its layout…again. Facebook allows video ads! The list is endless.
So, sometimes the really HUGE information can get lost. In this case it’s Facebook’s partnership with Acxiom, Datalogix and Epsilon. Techcrunch and some of the other tech-savvy pubs covered this news. But somehow its importance to advertisers just didn’t break through. Instead, consumers were more worried about the impending transfer of personal data from these services to Facebook (understandably so).
But from an advertisers standpoint, this news is groundbreaking. These data services will match up a user’s online browsing activity (outside of Facebook) with their Facebook user IDs, thereby allowing Facebook to provide advertisers over 500 new unique targeting groups (with more to come).
These third-party data services provide additional data to make your target audience come to life in an even more relevant manner. Here is an overview of the targeting capabilities provided by these data services and a little more about each company:
Acxiom is a data company with 32 billion data records. It’s one of the industry leaders when it comes to compiling, managing, and applying consumer & business data for marketing. Facebook’s current partnership with Acxiom allows you to target based on the household information of a user (their dwelling type, the market value of their house, whether they rent or own, etc.). You can also target users based on what sort of bank cards/credit cards they use, whether they invest some of their money, and what their job role is (administration/managerial, clerical, educator, farmer, financial, etc.).
Datalogix has a database containing more than $1 trillion in offline purchase-based data. They convert this data into an online universe of custom-made targeting profiles. Facebook’s partnership with Datalogix seems the most beneficial as it includes general buyer personas (e.g. fashionista, healthy & fit, green consumers, sportsman, etc.), retail categories (flower buyers, childrens products, pet supply, etc.), and subscription service categories (enrolled in online higher ed, has a mortgage, signed up for online auto insurance, etc.) to make it a bit easier for advertisers to put together their targets.
When I first learned the word Epsilon, it was as a letter in the Greek alphabet (I have my 10th grade teacher to thank for having memorized the entire thing!). But Epsilon, the data company, provides transactional data and consumer-reported survey data. Its partnership with Facebook now allows advertisers to create target audiences based on the type of business a person works for, their occupation, whether they have auto loans, if they donate to charitable causes, buy magazines, and more.
All of these data options make it easier for advertisers to reach audiences that they might not have been able to in the past. Gone are the days of having to resort to LinkedIn to reach someone in a certain profession. Gone are the days of guessing the items people purchase based on their “Likes.” Now there’s actual data to back these suspicions up.
Because of these partnerships, Facebook ads will not only be more targeted, but they will also be more relevant to they users they’ve targeted. B2B companies, retail companies, and all other companies now have the capability to know that they’ve targeted the right person with a message that’s relevant to them.