Facebook has undoubtedly been making big changes on their platform. Since January of this year,…
Attention, marketers! There are more Facebook advertising policy updates taking effect in the next few weeks that will affect your ability to target consumers based on third-party data. In an effort to quell backlash from advertisers, Facebook has announced that it will be allowing advertisers to use information they have received from data brokers to target consumers in their online advertising, but with one big condition: advertisers will be required to tell their consumers if a data broker supplied the information used to target them for the ad. Advertisers will also need to ensure that the data they are uploading was legally acquired with all proper consent needed from the consumers.
Wait, didn’t Facebook just banished third-party data?
“We are not taking a position on whether third-party data is inherently good or bad. We are taking a position on the importance of having the right to use the data and for it to have been sourced responsibly.” said Graham Mudd, a director of product marketing at Facebook, to Reuters.
It will be interesting to see how Facebook advertising policy updates continue to evolve as they work towards a more harmonious balance between marketers, policy makers and consumers.
On one hand, if they do not provide enough transparency for policy makers and consumers, they will lose their trust again, which could cause users to leave the platform. On the other hand, if marketers feel they cannot adequately target the correct consumers, they may begin pulling their advertising budgets away from Facebook and turning to other platforms that will allow them more direct access to the correct users. It is a fine line that they will have to tread going forward!
Will you use third-party information for campaign targeting in the future? Let us know in the comments!