In a major move felt throughout the social media advertising industry, Facebook announced earlier this year that it would be shutting down the Facebook Exchange (FBX) by November 2016.
FBX, which was originally created to help third party advertising technology companies purchase retargeted desktop ads through the site, has been growing more and more obsolete due to both the growth of mobile marketing and Facebook’s Audience Network (FAN). If you’ve got questions about what these changes may mean for your social media advertising campaigns, don’t worry – New Jersey advertising agency BOC Partners has got you covered. As experts in digital marketing, we’re happy to go over what the shutdown means for you, as well as information regarding FAN and how Facebook is more than prepared to continue using digital marketing strategies in the future.
So how does this affect you?
Don’t worry! If your business has continued to partner with one of the remaining third party vendors still associated with FBX, you can still purchase ads on Facebook through its application programming interface. But it basically comes down to this: with the growth of mobile, FBX (which is primarily a desktop retargeting tool) was missing the boat on a large portion of Facebook’s audience by being unable to target mobile or video advertisements, both of which have become extremely popular this year when it comes to prospective customer engagement. So in the end, the dissolution of FBX will only help in creating more avenues for you to advertise to all of Facebook’s audience, if only because of what Facebook is planning on next. Speaking of…
What’s next for Facebook?
The Audience Network (FAN), which according to the social media giant was created to “extend your ad campaigns beyond Facebook to reach your audiences on mobile apps, mobile websites, Instant Articles, and videos” (via) launched nearly two years ago, and has only grown since. Basically, Facebook’s Audience Network allows you to set up the exact parameters and objectives for your ad, based on the specific audience behaviors and interests you select to advertise to. Then, after advertising to users while they’re on Facebook, FAN gives you the opportunity to extend the same ads to users elsewhere on the web. So if you’ve ever encountered what you would once consider to be a “Facebook ad” popping up elsewhere along your internet experience, you’ve already seen FAN at work. The Audience Network gives you greater control over your campaign in the long run, as well as giving you the ability to customize your ads to the exact audience you want to reach. In an emailed statement from Facebook’s Vice President of Monetization Product Marketing Matt Idema, he stated,
“This is about giving people more relevant ads and marketers more effective formats, especially in an increasingly mobile world. Our ads API is open to all developers so they can innovate on our platform and build great ad experiences for brands and their customers.”
By shutting down the FBX and focusing more on the Audience Network, Facebook is not only giving its users more opportunity than ever before, but setting up a digital advertising dynasty that should be successful for years to come.