There’s no debate more tired than the inevitable one about whether the hot tech company of the day is a media company or not. It happened with Google, now it’s happening with Facebook. The truth of the matter is there’s not a binary option between tech and media. The answer is yes. These companies make the majority of their revenue from advertising, but they’re tech platforms at heart. In the case of Facebook, there have been questions swirling about its ad business and commitment to meeting the needs of Madison Avenue. Ian Schafer, CEO of Deep Focus, thinks these complaints are missing the point because Facebook’s not about selling ad impressions per se. In fact advertising is secondary to the type of constant interactions brands can have with consumers on the Facebook platform, emphasis on the platform.
With Facebook, real consumer connections become the new impressions, as they are what have become scarce. Ad space just makes those connections happen more often. It’s advertisers who shoulder the burden of making those connections yield value that contributes to their business objectives. It’s a canvas. Is that value driven by media spending? By creative executions? By customer service? By ads? By apps? The answer is all of them — which doesn’t suit the traditionally siloed advertising business very well. As a platform, Facebook seeks to offer something that publishers don’t — a utility to make marketing programs more efficient, more successful, and more relevant, by busting silos. The Facebook advertising sales pitch distilled is, “build your marketing programs to work through Facebook and use ads on Facebook to drive engagement with them at scale.”
Read Schafer’s full post on Ad Age. Follow him on Twitter at @ischafer.
‘Not the future’: European publishers remain steadfast in blocking alternative IDs to third-party cookies
Some European publishers believe alternatives to the third-party cookies, probabilistic or deterministic, will do more harm than good to their ads businesses.
Media Briefing: Why Leaf Group spun off its media arm into a standalone company
World of Good's newly appointed CEO Lindsey Abramo spoke with Digiday about her plans to lean into experiential and embrace niche vs. scale.
Dentsu’s latest ad report shows slowed growth, driven mostly by inflation
The good news in Dentsu's ad forecast is that there's still growth. The bad news: most of the growth is the result of inflation, while real ad pricing actually dropped a bit.
SponsoredHow agencies’ relationships with RMNs are continuing to evolve in 2023
Sponsored by Best Buy Ads As retail media networks proliferate, agencies are increasingly identifying RMNs as valuable opportunities for their brand clients as they seek quality audience data, meaningful reporting and insights, and authentic and engaging ad formats and creative. However, there are many options for them to work through as they select RMN partners. […]
How chef influencer Tue Nguyen works with the BuzzFeed Creator Network
BuzzFeed's Creator Network has been valuable from an audience and production education standpoint, but Nguyen still drives most of her business on her own.
Dentsu’s new Web3 readiness tool shines light on the tech’s potential to complement AI
Dentsu's Innovation Initiative is launching a web3 readiness index next month — at a time when the industry is obsessed with AI. Could the two technologies actually make a good pair?