In the wake of the Russian Data Breach, consumers and marketers alike are seeing and experiencing the changes being made by Facebook regarding Third Party Data and Updated Privacy Policies. As most marketers already know, Facebook has removed Partner Categories from its platform. This is how advertisers have historically activated 3rd party data segments.
Does this mean the end of Facebook Advertising? No! Marketers will still be able to access quality 3rd party data for targeting, however they will now need to establish a direct partnership with one of the Facebook approved data suppliers in order to tap into these data segments. In addition, the data fees will be now be separated out from the media placement fees within and the partner data suppliers will be invoicing marketers directly for access to these data segments.
When Facebook removed Partner Categories (rich data segments that were easily and readily accessible to advertisers for targeting purposes), the removed a large amount of information which could be used to better understand audiences. All consumer information, except that which was self reported and/or gleaned from a users’ Facebook profile, was removed. These data layers include such information as basic demographic information as household income and age of children, as well as behavioral data such “auto purchase intender,” or “frequent air traveler.” This ecosystem of data is what built the success of Facebook advertising. Especially for smaller marketers, having access to this information in a self-service campaign management model really evened the playing field for them. But as the GDRP become the law in the EU, and with the likelihood of similar legislation coming stateside, Facebook decided to get out of the data responsibility game. However, by setting up a system by which marketers can partner with those same data providers to continue to get access to this customer information, they did not get out of the data game – just the responsibility game. Which is great for both consumers and marketers alike.
These new partnerships will benefit both Facebook Users and Advertisers. Through transparency and user controls, Facebook will be allowing the consumer to help mold the new advertising landscape in which they engage in. Enhanced disclosures will also allow users to see what types of information data providers have about them and exercise control over that data. A more informed and engaged public equates to better targeting for advertisers; meaning that your message will be presented to consumers that will be more inclined to engage with your business. Seventh Point has entered a partnership with Oracle Data Cloud (formally DLX) and can now access rich consumer data for targeting purposes. If your campaigns have begun to dip in performance due to lack of targeting data, let us show you how we can improve your campaigns by leveraging the targeting data available from Oracle.
To learn more about our partnership with Oracle and how it can benefit you and your social media marketing efforts, contact Ted Rooke, our VP of Media! Are you a current client? Your Account Executive can provide you these details and work with our Media Department to create a custom audience for your product or service.
Original Blog posted on August 22, 2018. Updated October 19, 2018.