Data points that Facebook uses to target ads
washingtonpost.com
Data points that Facebook uses to target ads
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Re: Data points that Facebook uses to target ads
#2Does anyone know of any startups or upcoming projects that are trying to compete with Facebook (i.e building a social network?).
I still haven't managed to wrap my head around how exactly facebook makes money. Do so many people actually click on ads? And this somehow makes billions? I find it very hard to imagine (for myself).
Re: Data points that Facebook uses to target ads
#3Does anyone know of any startups or upcoming projects that are trying to compete with Facebook (i.e building a social network?). I still haven't managed to wrap my head around how exactly facebook makes money. Do so many people actually click on ads? And this somehow makes billions? I find it very hard to imagine (for myself).
There's diaspora [0] and GNU social [1], but those haven't yet managed to pop up into the mainstream. Network effects should ensure that they do not anytime soon. With that said, the mounting controversy over Facebook and Twitter's moderation may end up pushing marginalized groups into these platforms.
Re: Data points that Facebook uses to target ads
#4Does anyone know of any startups or upcoming projects that are trying to compete with Facebook (i.e building a social network?). I still haven't managed to wrap my head around how exactly facebook makes money. Do so many people actually click on ads? And this somehow makes billions? I find it very hard to imagine (for myself).
Yes so many people click on ads. Brands also pay to get higher on users wall posts. To evaluate what brands do, try creating an advertising account and check for yourself how much they charge you and how good their targeting is.
Re: Data points that Facebook uses to target ads
#5When people purchase GQ or Vogue, they are buying it as much for advertisements as for editorial content. When someone flips through one of those magazines, it's like they appreciate the designers hiring models, taking pictures, and sharing it in the magazine even though both they and the reader paid. Take the ads out of GQ or Vogue and there is almost nothing there.
If I create an ad on Facebook and people click on it, leave comments, and share it, Facebook will mark it as quality content and discounts the price per impression. It seems that Facebook wants to create the ad experience of GQ or Vogue and gives money incentive for advertisers to do it.
Facebook knows I'm into technology and web development. There are lots of great products for web developers created every month. Facebook is a way for companies to find people who are interested in their products. It helps people learn about new products and it helps companies target people who are interested in their new products.
There was a fundraising concert last year for a local charity. I volunteered $300 and time to do Facebook advertising. It yielded several thousands of dollars in ticket sales. For $300 Facebook let me communicate to people who really cared about either the bands who were playing or to people who really cared about the project what was happening. Facebook let me target people who like Candelbox within 40 miles of the venue.
This is good. I don't understand why people hate on it so much.
Re: Data points that Facebook uses to target ads
#6Yet another book out recently which explores this topic:
"Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy"
https://www.amazon.com/Weapons-Math-Destruction-Increases-In...
Re: Data points that Facebook uses to target ads
#7Contrary to popular opinion, people want to see ads.
A good ad is very much appreciated. This is why magazines still make money. This is why the SuperBowl is popular amongst non-football fans. Unfortunately, most ads are spammy which is why internet ads have earned this terrible reputation.
Re: Data points that Facebook uses to target ads
#8When people purchase GQ or Vogue, they are buying it as much for advertisements as for editorial content. When someone flips through one of those magazines, it's like they appreciate the designers hiring models, taking pictures, and sharing it in the magazine even though both they and the reader paid. Take the ads out of GQ or Vogue and there is almost nothing there. If I create an ad on Facebook and people click on…
>I don't understand why people hate on it so much.
Because they fundamentally misunderstand how advertising works. Read the comments on any article that discusses advertising and you'll see endless pages of people furious that Facebook or Google or Microsoft are "selling my data", as though an advertiser can click a few buttons and download a list of people's names and addresses and preferences.
It's the same confusion that exists about cookies, which people seem to think are super secretive bits of code that can somehow infiltrate your browser and watch everything you do.
The average person is completely misinformed about how advertising works, and the media breathlessly hypes up that misinformation despite the fact that they know very well exactly how advertising actually works and that nobody (well, nobody like Facebook or Google) is selling your personal information to anyone.
Re: Data points that Facebook uses to target ads
#9When people purchase GQ or Vogue, they are buying it as much for advertisements as for editorial content. When someone flips through one of those magazines, it's like they appreciate the designers hiring models, taking pictures, and sharing it in the magazine even though both they and the reader paid. Take the ads out of GQ or Vogue and there is almost nothing there. If I create an ad on Facebook and people click on…
I don't purchase GQ or Vogue because I don't want to be visually assaulted with lifestyle gunk. I have enough uses for my money and I don't want more things competing for that attention; trying to inculcate extra desires is not increasing my welfare.
Some people aren't like you. They like having higher-level control over what they want; that is, they want to will what they want, and in that effort, they are working in opposition to advertisers, who are trying to make an argument that you should change what you want. The more information you give advertisers, the more leverage you give them to try and sap your willpower as you control your desires; i.e. the more "handles" they have to try and get a grip on your attention and direct it other than as the viewer wills.
If you try and live your life at a higher level than a hedonistic consumer flitting from one pleasure to another, you'll see that people who try and tempt you with new pleasures are not working in your interest. It's as simple as that.
Re: Data points that Facebook uses to target ads
#10Does anyone know of any startups or upcoming projects that are trying to compete with Facebook (i.e building a social network?). I still haven't managed to wrap my head around how exactly facebook makes money. Do so many people actually click on ads? And this somehow makes billions? I find it very hard to imagine (for myself).
To me it doesn't seem hard to believe that people will click on ads (mistakenly or purposefully), nor that bot traffic is so significant, nor that advertisers are willing to pay for brand presence even without clicks.
What does continue to amaze me is that users tolerate how much data FB collects, how they use the data, how duplicitous they have been over time with users, and how they manipulate your feeds/user experience to benefit their revenue/advertising income. But I have come to realize most people just don't seem to care about privacy that much.