Marketing Consulting/Omni-Channel Marketing: Offline and Online
Eight million brands, from carmakers to rock bands, switched to Facebook’s new Web page format 10 days after the revamped pages were introduced at a splashy launch event in New York last month, according to Facebook.
Some businesses say new advertising offerings that take advantage of Facebook’s latest Web page capabilities are helping them reach a broader audience on the 845-million-member social network.
Everybody wants to be liked. The question for Facebook Inc. is how much advertisers are willing to pay for the opportunity.
Facebook’s estimated market value, now in the neighborhood of $70 billion, is founded on the belief that companies will spend big to advertise on the site. Facebook’s revenues, which come largely from ads, were $1.6 billion in the first half of this year, up $800 million from a year earlier.
But most of its ads were for small advertisers, such as local businesses and small-scale websites, according to comScore Inc. Facebook is under pressure to grow its advertising on a grand scale, and to snag the sort of big brand names who now drive billions of dollars to TV, radio and print campaigns