What’s new with the biggest social network in the world? Facebook has a new round of changes, including new advertising targeting preferences to reach the U.S. Hispanic market, a new Facebook algorithm update, and Facebook’s pending eMoney service. Catch up on the latest with this quick summary guide we put together:
Facebook Adds New Language Preferences to Hispanic Targeted Ads
To make it easier for brands marketing to deliver more relevant messages to U.S. hispanics, Facebook has added three new language preferences: Spanish-dominant, bilingual, and English-dominant. This extension of the U.S. affinity segment is available to marketers via Facebook ads. Read more from AllFacebook.com
Newsfeed Update to Combat Spam Posts
Facebook is altering its news feed algorithm (once again) to fight off posts that the company considers, “spammy”. Facebook mentions that the change is in response to user feedback and the company hopes to minimize visibility for “like-baiting,” “duplicate content,” and “spammy links”. Posts that explicitly ask users to “like,” or “comment” or “share” a post will likely see less visibility and reach. Although Facebook’s changes to its News Feed helps combat spammy posts, marketers will likely see their reach dwindling down. Read more from CNET.com.
Facebook – A New Financial Institution?
Facebook is very close (“weeks away”) from awaiting approval from Ireland central bank for an e-money service that would allow end users to store and transfer money to other users on the social network.
The new eMoney sevice would only be available to European users, according to Mashable. However, Facebook is planning to partner with several other startups that would make international money transfers available through smartphones.
A push in financial services would have Facebook competing with other companies such as PayPal and Western Union which charge fees to send transfers. Read more from Mashable
Goodbye to Free Facebook Organic Reach
According to sources like Wired and ZDNet, “Facebook’s organic reach free ride is over.” Before the Facebook went public in May 2012, the company was focused on building audiences and positing itself as a content source to attract advertisers. Now that Facebook needs to generate cash, it’s now wanting marketers to show them the money.
According to Time, Facebook has been reducing organic search for Pages for the last several months and posts from companies have dropped from reaching 12% to 6% in February 2014. According to sources, Facebook just may be in the process of slashing organic reach for brands from 2% to 1%. It might be time for all marketers to finally make an investment in Facebook advertising if they want to see their reach grow.
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