When Facebook talks, the whole world listens. The giant social platform comes up with new and interesting updates all the time.
What did Facebook’s Chief have to say about the focus of the platform moving forward?
Let’s hear the latest update on their business strategy. Key business product innovations to be launched by Facebook definitely need insight into them.
The Announcement
If not a content company, Facebook is certainly a context one. This has been made clear by Dan Levy’s recent post about new innovative strategies to be implemented by Facebook.
About a week ago, Dan Levy, the VP of Ads & Business Products, explained the focus of Facebook on new agendas as it moves forward. Starting, what levy pointed out was the launch of new business product innovations by the famous social media platform. These included innovation in privacy-enhancing technologies, product and business discovery, commerce, and business tools beyond marketing. Let us break them and understand what innovations Levy intended to tell us about.
Four key innovations that are on the way
Firstly, while still allowing advertisers to market their products, Facebook will include new technologies that will limit the display of personal information to ensure enhanced privacy for its users. PRAM, W3C, and WFA will be followed practically by Facebook as it collaborates with other industry partners and organizations. Facebook has begun testing and experimenting with more contextual targeting for in-stream video ads; it has been reported.
As quoted by Levy, with the focus on expanding in-stream purchasing tools, Facebook is looking forward to acknowledging and practicing the rise in online shopping and marketing trends giving more space to e-commerce. For this, new options for users will be launched to access content related to beauty, clothing, fashion, or fitness. Through this strategy, Facebook will be able to maintain brand-focused listings and user interest.
Interestingly, Levy also mentioned that small businesses would be promoted by the platform. The shop and product listings will be streamlined during the process. It has been reported that Facebook’s user-base has reached 200 million companies along with 10 million Facebook’s advertised products buying companies.
Lastly, Levi emphasized that Facebook will implement steps to improve and enhance business management processes. Marketers, please take notes! Enhanced business experience will benefit marketers, so it’s definitely good news.
Let’s hope Facebook adheres to what it says about the innovations and benefits us all.
