Today, one of the biggest questions reverberating around conference, business and dinner tables across the globe is how to make money from the various forms of social media.
Monetising social networks is very possible, says Chandlee
This will continue to be a heated debate this year as models evolve and get fine-tuned.
That said, advertising formats in all channels – including portals – will continue to develop.
Consider where we are today versus only five years ago in terms of targeting, video and rich media.
Critics have suggested that it is hard for social networks to monetise their audience to the same degree as other media.
This is a myth – and one that is dispelled once social media is examined as more than a single category.
Facebook – ahead of the curve?
In a digital world fuelled by social media, the prospect of translating large social networking audiences into solid earnings presents more possibilities than disappointments.
Key to success will be targeted communication and advertising that facilitates increased relevance, engagement and interaction between brands and consumers.
As we develop new and innovative platforms for our advertisers, our core ethos of scale, efficiency and effectiveness are key considerations.
Only by embracing these will we will be able to deliver the value that ultimately advertisers want, and need.
At Facebook our mission is to enable people to share and make the world more open and connected.
Facebook enables people to connect and share information more efficiently and effectively than ever before.
As a result, the role we play in consumers’ lives is very different from that of a traditional media player and our advertising solutions follow suit.
Twitter is growing rapidly
We are ultimately a technology company, so how we provide value to customers, consumers and advertisers is through our range of user-specific – and user-friendly – features, as opposed to an emphasis on content and traditional advertising formats.
Today, some of the largest brands worldwide are using social networking platforms to become part of the conversation both on and offline, thereby interacting with a massive community of users.
As a result, they are influencing behaviour with great scale, and meeting their brand objectives, whether these objectives are traditional above-the-line branded advertising or below-the-line direct response.
We are finding the brands that most effectively embrace these new opportunities are able to drive return-on-investment levels that compete with television in brand building and with search on performance.
This combination, along with the scale that is represented, is a new and exciting world for advertisers, and we are just seeing the beginning of the opportunities that will exist.
The debate at our dinner tables will continue.
But the opportunities this year, amidst a market in turmoil, will be hard to ignore as brands, companies and users are now, more than ever before, ready to actively invest in the digital social world.
:: Blake Chandlee is EMEA commercial director at Facebook