Facebook Inc (NASDAQ:FB) is making it easy for marketers to know what their customers are talking about with the introduction of a new tool called, Topic Data, which lets them examine users, posts and actions related to a given topic or product of discussion. The giant social network is moving to be more than just a social media network as the race for ads revenue heats up according to Fox Business Deirdre Bolton.
Marketers can now use the tool to learn what Facebook users are taking about given events, brands, and activities, allowing them to stalk products that are sure to attract sales. Facebook Inc (NASDAQ:FB) collects a huge amount of data on its servers related to what its users are saying, information that could be helpful to marketers on their marketing campaigns according to Wall Street Journal, Jack Marshall.
“It has offered the ability to target ads on its own service for a while, that’s obviously how it generates its revenues but now it is offering the ability for marketers and any company essentially to sort of tap into some of that data and uncover insights about what its users are doing,” said Mr. Marshall
Marketers can use the information collected to make informed decisions on how to market their products on Facebook Inc (NASDAQ:FB) as well as other channels that the users may be talking about. Such data was initially available to marketers but not in enough quantity according to Facebook for making well-informed marketing decisions. “It is potentially powerful data, other social networks like Twitter Inc. (NYSE:TWTR) are doing similar things, all companies are doing similar things,” said Mr. Marshall
Topic data will be available for free in the initial stages as Facebook Inc (NASDAQ:FB) looks to attract as many marketers as possible into the ecosystem, but pricing should come later when everything is up and running. The giant social network has partnered with data vendor Datashift that will provide the technology for pulling out essential data from user’s postings
The tool, however, cannot be used to target users on Facebook Inc (NASDAQ:FB) directly, but essentially provide information of what the people are talking about. Collected data is to be kept private, and the marketers will not have access to any personal information.
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