By: Kevin Hebert, Product Manager, Social Advertising
Facebook users continue to expect greater transparency and control over what data is shared with Facebook, thus the social networking company has announced that they will be ending Partner Categories within the next 6 months. Partner Categories provides a targeting option that allows several third-party data providers to create audiences based on activities that happen outside of Facebook. While the news immediately left many marketers concerned about access to these often powerful audiences, it’s important to recognize that this move can ultimately help your dealership. Here’s how:
Facebook is listening to its users and that’s the most important thing they can do. Without them, all of the powerful targeting capabilities wouldn’t be worth a dime.
Third-party data has become increasingly competitive as more and more marketers are being granted access to these audiences. This isn’t to say that these audiences won’t be missed, it’s just worth noting that the early gold rush was likely over and the cost of these audiences was set to continue to rise due to competition.
Additionally, Facebook may simply replace these audiences with their own super-charged targeting capabilities. They are still collecting massive amounts of data and may have a trick up their sleeve to cut out the middle-man and provide similar audiences without the need for third-parties.
Finally, the most important reason not to worry is that your first-party data has always been the most powerful tool you have for targeting. It’s crucial to have a strategy in place that reaches your customers at the right time with the right message based on the treasure trove of data in your CRM and DMS. You also need to incorporate website shoppers and lookalike audience data to create your own custom audiences based on your first-party data. These audience options have always been part of our client strategies for success and will only play a larger role going forward.
To ensure you are getting the most out of your first-party data contact Dominion Dealer Solutions today, call 877.421.1040.
