Facebook, Inc. FB recently partnered with WPP’s WPPGY Data Alliance to enable marketers’ access to data-based solutions. The solutions and insights for marketers will come from the application of WPP’s proprietary data assets to the social media platform.
The multi-year partnership will open new avenues for marketers for customizing their offerings according to consumer preferences and requirements. Furthermore, as the data assets will be connected directly to the Facebook platform, marketers will be able to determine the real time changes in consumer behavior patterns and make the right offerings at the right time. Per the alliance, data from WPP member’s GroupM, Kantar and Wunderman’s KBM Group will be available to marketers, without compromising consumers’ privacy, the companies assure.
WPP clients will be able to optimize their marketing campaigns with access to both WPP and Facebook resources. WPP will be able to have successful campaigns for Facebook ad formats comprising video, photo and link based ads for both mobile and desktop users.
New audience building solutions will be possible because of this collaboration as marketers will have access to a wider range of users across all devices. As such, marketers will have a clear idea of the effectiveness of their online marketing campaigns and its impact on the business outcome.
The two entities will together collaborate for developing advanced data-driven solutions to gauge online and offline sales across several countries, augment mix modeling and derive in-depth insights. This apart, the partnership will be undertaking research studies to explore new and innovative areas for connecting marketers with Facebook users in a more efficient manner.
We believe that such initiatives will allow Facebook to leverage growth opportunities from increasing online and mobile advertising spending in the long run. In 2014, advertisement contributed about 93% of Facebook’s total revenues. According to data available from research firm eMarketer, the digital ad market is expected to boom in the long run. The report also predicts that by 2017, digital ads will comprise one-third of the global advertising market. Facebook’s strong user base and its strength in mobile position it well to gain from this booming market.
Facebook has a Zacks Rank #2 (Buy). A couple of better-ranked stocks in the technology sector are Autohome Inc. ATHM and LivePerson Inc. LPSN, each sporting a Zacks Rank #1 (Strong Buy).
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