Boston, MA 10/08/2014 (wallstreetpr) – Facebook Inc (NASDAQ:FB) has come forth with another idea to lure businesses to its appealing revenue source- targeted advertising.
According to news released about the world’s biggest social networking website, has recently taken another major step in advancing its chief revenue generating source. Yesterday, the company announced that it is introducing a new advertising feature aimed at profiting local businesses.
About The Program
The social network giant said that the new scheme will target users according to their physical location, so as to maximize the profits of local businesses. In its official blog post, the company highlighted that the program is so designed such that it would pop up ads on users’ ‘news feed’ about stores that are nearest to their current location. When a user walks past a store, Facebook will put ads related to that store on his screen.
The new advertising campaign will allow Facebook Inc (NASDAQ:FB) to create a new revenue source that will allow local businesses to target expanded audience. The company seeks to address the increasing problems of small businesses that have surfaced over the last year. The problem acknowledged here is the changing user preferences as well as promotion techniques. The idea is an extension of the advertising feature called “Nearby Friends,” which provides users the means to share their locations with friends.
How Local Business Can Benefit
To post their local awareness advertisements on Facebook Inc (NASDAQ:FB), businesses are required to update their working address and a radius around their location to maneuver targeted audience. Alternatively, they can also set preferences based on age and gender of the people they want to attract. The company will also show business how many people are likely to view their ads on their Facebook pages. In addition, business can also incorporate a “Get Directions” feature to assist people find the stores.
The company plans to roll out the local awareness ads in the U.S. within the next few weeks. In other countries, the scheme will be activated in a few months’ time.
