Facebook is implementing some pretty serious changes to the way businesses target potential customers online.

Due to the recent scandal regarding the Cambridge Analytica’s misuse of user data, Facebook has had to tighten its control over what businesses can and can’t do in regards to advertising on the platform. From July 1st, Facebook will begin to phase out third party data sources plus implement a certification tool which allows Facebook users to have more control over who can and can’t target them with paid marketing. While both of these changes are long overdue they will severely disrupt how businesses are currently advertising on Facebook.

What does this mean for your business? Let us explain.

Third Party Data Sources

Facebook currently uses third party data companies to provide information that businesses can use in partner categories. These companies include Acxiom, Epsilon, Experian Marketing Services, Oracle Data Cloud (Datalogix) and Quantium. Information obtained by these companies are often offline attributes and behaviours (income, purchases, spending, etc.) which many businesses and digital marketing agencies rely on to target potential customers.

What do these changes mean for your business?

Those most affected will be businesses and digital marketing agencies who do not know the core audience for their products, thus relying on general data to reach potential customers. Mass produced, broad targeted audiences used by some digital marketing agencies will become ineffective due to this change, which means trouble for your business.

Thankfully here at Voyance Insights we carefully assess the market, get to know your product and target the people most likely to purchase your product without the use of third party data. This provides greater return on investment for our clients plus saves precious time and money.

Custom Audience Certification Tool

Custom Audiences are created by compiling a list of basic information including names, emails and contact numbers. Facebook then matches this information with Facebook users, allowing a business to reach current and potential customers.

Currently there is no regulation as to how a business can acquire this contact information but that is all about to change. To protect Facebook uses, certification will now be needed to allow a business to target that person with their marketing. Facebook is yet to release how they exactly plan on implementing this.

What do these changes mean for your business?

Well marketing on Facebook will change. If your business currently sources their custom audience data from third party companies then marketing is going to become difficult. But if your business is currently acquiring their data responsibly through competitions, newsletters, email sign ups and enquiries then it’s simply an extra step Facebook has to undergo before you can use those Facebook audiences.

All data acquired for our clients is done so through genuine means, such as website enquiries and CRMs, allowing Voyance to be minimally disrupted by this change.

Are you worried about your Facebook accounts?

Phone us today on (03) 8797 5511 and we can help you minimise any damage these updates can potentially have to your business.