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Parsing Facebook’s new lexicon
Public Group active 7 months, 1 week agoParsing Facebook’s new lexicon
Facebook is expanding its vocabulary.
Recently at f8, Facebook’s developer conference, the company introduced a series of action verbs into its social platform. “Read,” “Watch,” and “Listen,” Facebook CEO
Mark Zuckerberg explained, were added to help build a “language for how people connect.”
[img]http://i.i.com.com/cnwk.1d/i/tim/2011/10/04/IMG003_2.jpg[/img]
The one missing word, of course, was “Buy.” That’s moncler outlet really why Facebook and its army of content
partners from news, publishing, music, and film and TV are rushing to set up shop on the famous platform with 750 million users. The overriding idea is that the
world’s most esteemed global brands will live on Facebook and conduct commerce at an unprecedented rate and scale. As it moves toward its highly anticipated $100
billion IPO, expected next year, Facebook is on a strident quest to appear more valuable to advertisers and glean new revenue streams beyond display advertising.
Brands, meanwhile, are angling for new consumers and better ways to measure the ROI from social media campaigns.
CNET sat down with Gi Fernando, an expert on social-networking data, to help explain what Facebook’s platform changes mean for brands, consumers, and marketers.
Fernando is co-founder of Techlightenment, a ralph lauren online shop leading social customer relation
management company owned by Experian, and has worked with Facebook since 2007. Essentially, Techlightenment helps brands track , mine, and analyze the real-time
customer data found in the social graph. Founded in 2007, London-based Techlightenment has had hundreds of global enterprise clients including GlaxoSmithKline,
Universal Pictures, Skype, Volvo, and the Royal Bank of Scotland.
What follows is an edited version of the conversation.
Question: How will Facebook’s new platform changes impact brands and advertisers?
Fernando: The implication for businesses is absolutely huge. Advertisers and brands aren’t just going to be looking for “clicks” anymore, which is what Internet
advertising has long been based on. It’s what Google is based around: getting clicks. Why bother with clicks when you can get actions and verbs-people listening,
cooking, reading, watching, jumping, eating-that’s what you’ll be measuring people on “action” words, “doing” words. That’s a big deal. It’s transformational for the
Internet. It’s abercrombie and fitch outlet Facebook trying to be the semantic web. And for advertisers,
that’s immense.
What do you mean by that? Can you elaborate?
Fernando: Now you can do more than just cost per click. Now you can do “cost per read,” “cost per watch,” “cost per buy.” And the importance of that is being able to
discern the value of downstream actions and purchases. How many people who read this influence 20 others to read it? Out of every watch, you get 13 buys or subscribes,
that’s quite fundamental.
So, what, exactly, is the single biggest change that Facebook is making here?
Fernando: The biggest change is Facebook driving toward becoming the semantic web. The semantic web is making sure that the Internet has a dictionary and a grammar
that can be understood by consumers, yes, but also by advertisers and brands.
It’s also understanding how people behave moncler jackets outleton the Web rather than just clicking on stuff:
what are they actually doing? You read, watch things, you get instant feedback, your friends can read and watch with you, but then the brand knows what you and 13
others are reading, watching, listening to as well, and you can target advertising based around that. It’s a beautiful feedback loop both for the consumer and the
brand.
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