Future trends in Media purchases: Facebook edition

In previous installments, I talked about some of the online advertising opportunities that haven't been fully recognized, and in this installment we'll talk about the giants of social networking: Facebook.

First, we have to admit that Facebook's current advertising business model is very impressive. Because the site is more of a non-traditional product and service, the site encountered some resistance, but it is undeniable that Facebook did do some pioneering things, such as the use of user original video, through the spread of the peer, so that consumers and advertisers to connect together.

This is crucial to Facebook's advertisers. Marketers who consider advertising on Facebook are aware of the importance of consumer social circles. This will not only have a certain influence on the consumer's own life, but also have a great influence on the consumers ' purchasing decision. People have long agreed that good word-of-mouth can affect everything from a person's perception of a product or brand to whether people are interested in a new film, or whether they are interested in eating at a particular restaurant. Facebook's "Social ads" can take advantage of the behavior and interests of Facebook users to achieve the purpose of advertising.

What Facebook has not done is connect consumers with products that are highly prominent in their own data. This service is really able to let consumers sit properly in front of the computer, attention to this product. And we can use their action to display social ads alongside (Facebook now defines it as social action). For example, "Jim bought a ticket to see the X-Men: Wolverine," then we might be able to view the film by connecting to the Facebook user who already owns the movie.

One of Facebook's most popular features is its ability to upload and share photos. Facebook is the largest photo-sharing site on the web. And the site now has a lot of video. These photos may be taken by friends drinking Corona beer on the beach, or a baby sitting on a high chair in the Stokke brand, being fed mashed bananas.

For now, consumers can mark the names of the characters appearing in photos and videos to make it easy for others to find photos of their Facebook friends. In theory, they can also tag the product, although this has not become a common practice, because the product list is provided in a way that is different from the buddy list. If Facebook promotes this practice and provides a dictionary of popular products and business names, consumers can highlight the brands that play an important role in their daily lives and, in particular, promote their peers. The user who took the baby-feeding picture probably thought the Stokke brand's high chair was the best fit for the baby. If so, so long as she sets this photograph to be visible to everyone, then this is a good opportunity for her to promote the brand to her friends.

Once the product is tagged, Facebook can consider adding a link to the brand's business if the user allows it. Links can be placed on existing Facebook pages, on external brand sites, or on the product's Web site. If the user supports the brand and wants other consumers to buy it, she may accept the link. But if not, she has the option of refusing. Of course, if the brand believes that the content or background of the photograph is inconsistent with their brand, or that it is offensive, it can also refuse to be tagged with photos.

You can imagine the power of Word-of-mouth marketing. It's as if a Facebook user sits down with another user, fortune-teller a cup of coffee and talks about something that must be bought. If consumers voluntarily label a product, it is equivalent to the consumer in the virtual world of praise for the product, but also in her entire network social circle (the circle of people who respect her opinion, believe her advice) in the publicity.

As an advertising opportunity, this will create a platform for marketers to leverage the influence of some consumers among their peers. For example, some "market connoisseurs" will be happy to advertise their knowledge of products to their friends and acquaintances. Not all consumers are interested in advertising a brand in their own photos or videos. But many people, like those who publish book reviews on Amazon and block the use of Low-quality products by forum users, will be happy to do so to spread their active organization and give others a chance to enjoy what they think is good.

If they can achieve something, the product tag in Facebook photos could be a nightmare in social media monitoring because there are too many brands to deal with. Or they could be the most effective way to do viral marketing.

(Original in: May 14, 2009; compiling: Zeng Cui)