Fluent’s Cohen Says Facebook News Overlooks “Lead Ads” SuccessNovember 9, 2015 | By Fluent
Publication date 11/9/15
Facebook posted a strong 40.5% jump in quarterly revenue on Wednesday! Amazing. And the company’s new advertising services and the mobile app have triggered a rise in stock prices–making it more valuable than GE or Johnson & Johnson. But Jordan Cohen, Chief Marketing Officer at Fluent (pictured left), believes Facebook’s biggest Q3 success, Lead Ads, has flown under the radar. Lead Ads collect the first party data that pairs perfectly with their successful Custom Audience tool.
The Lowdown on Lead Ads When someone clicks on a Lead Ad, a form opens with the person’s contact information automatically populated, based on the information they share with Facebook, like their name and email address. Automatically populating the contact information that people share with Facebook makes filling in the form as fast as two taps: one click on the ad to open the form and another to submit the autofilled form. People can edit their contact information before submitting the form, and this information isn’t sent to the business until a person clicks “submit.”
“Facebook’s biggest mobile win in Q3 from my perspective was the official roll out of its “Lead Ads” product,” says Cohen. “It enables advertisers to capture first party data from directly within the ad units themselves by getting people to opt-in to hear from advertisers via email, phone, et cetera. This product will help create a virtuous cycle that will fuel even greater adoption of its wildly popular Custom Audiences solution.
Custom Audiences This service leverages advertisers’ first party data to target Facebook users, their friends, and their lookalikes, with great precision and at a massive scale, across all devices, including mobile. “The way I see it,” says Cohen, “Lead Ads essentially enables Facebook to earn a “double commission” by accelerating sales of both the Lead Ads and Custom Audiences products.”
The biggest challenge Facebook faces will be the new threat introduced by Google’s “Customer Match” offering. That’s Google’s first foray into targeting ads based on first party data and, says Cohen, is sure to be a hit with advertisers. “Imagine how powerful it will be to surface search ads to your most engaged customers and their lookalikes when they are in market for a product,” he notes.
“Facebook has been gaining market share in mobile advertising at Google’s (and others’ expense),” adds Cohen, “so it will be interesting to see these two online advertising giants battle it out in Q4 with their new products having just hit the market in late Q3.”