Facebook had previously announced that it would remove its Trending Section permanently. But now, Facebook comes up with a strategy to increase the monetary standards of the company.
To know more about the Facebook’s decision on the removal of Trending Section, click here.
This monetization boost is done using ‘Marketplace’ and ‘Header Bidding’.
Let us have a better look at each of the topics separately in order to understand the topics in depth.
What is meant by Facebook’s ‘Marketplace’?
Facebook had launched ‘Marketplace’ way back in 2016. It was launched in order to allow its users to sell items on the website, but it didn’t have a dedicated place to do so. Since then, the users are able to sell cars, or even hire cleaners or plumbers as well as list details about housing. It’s optimised automatically for mouse-clicks, i.e. Facebook predicts people with similar demographic as the ad you clicked.
Facebook uses its main navigation bar in order to promote its content or the ads. By doing so, you could earn a lot of money, hence Facebook is clearly making its plan for that. Facebook is doing so by introducing ‘classified sections’ in which the users could post their listings.
Canadian people were the first to witness this and now it’s slowly but surely growing among the US as well. The News Feed also comes in handy, as with this, the users could boost the listings even more. Marketplace can be expanded from videos, or Instagram, or Messenger as well.
For example, Thread Wallets, which is an accessories based company, was able to achieve 300+ purchases due to the return of 41% spent on Marketplace ads, which was made as a platform for the company’s conversations related to campaigning. Another example is the FabFitFun, a women’s Lifestyle Subscription Box & Media Company, which made 2.2x return on ad spend.
Click here to know more about Marketplace.
What is meant by Header Bidding?
In another post, Facebook mentioned that it joins Google’s AdMob, MoPub, Oath, etc. to support in-app, real-time bidding on the Audience Network. This is with regards to AdExchanger.
‘Header Bidding’ works in this way- The person who is willing to spend the most among all the bidders on an advertisement, gets to have their advertisements appear on the mobile apps.
Facebook came forward with this process of Bidding since this could lead to –
- more-and-more revenue for the publishers,
- a much better ad-experience for the users,
- better ROI (Return of Investment) for the advertisers
Click here to know more about the In-App Bidding process.
Thus, it is evident to mention that Facebook is no stranger in the ads sector. It’s high time a person uses this platform to grow their company. But make it worth it because depending on how attractive your ad is, you tend to gain more returns.