If you've ever heard me talking about Facebook.com, you'll hear me say that that it constantly wastes the potential for three dimensional marketing synergy. How so? Well, let's break it down.
There's currently the irrelevant right column side ads.
I cannot speak for my friend, who's page I picked this ad off of, but I'm not much of a wine enthusiast or in the market for an engagement ring. The only thing these ads have right is that I am in Chicago.
Then there's the applications, which are made by outside developers. Most of these applications now steer users to websites outside of Facebook and takes potential revenue from Facebook.
So, what can Facebook do to improve their advertising revenue, rather than let outside developers come in and bog down users with applications?
Here's my solution:
Facebook needs should enter new strategic partnerships with the retailers who advertise on the website and other businesses. First, Facebook should evaluate whether it's possible to sell ad words similar to Google. However, rather than linking the ad words to a search on Facebook, the sire should use a user's status.
For example, if I were to write, "Matthew is looking for an affordable ticket to New York" in my status, it would be highly useful for me to see an ad for Expedia or Kayak or Continental Airlines...
Next, Facebook needs to take advantages of the user's "favorites." Through strategic partnerships with retailers like Amazon or iTunes, a user should be able to click on a person's favorite and be taken to a link where a user can sample that person's favorite musician or book or movie to see if he or she might want purchase it as well. Plus, these favorites could also be sold as ad words to retailers.
Does this sound like a good idea to anyone else?
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