Facebook aids companies with CRM information
Facebook may have more data about individuals than any other social networking platform, which is why their "Custom Audience" advertisements that benefit customer relationship management (CRM) may become extremely profitable, according to Tech Crunch.
Facebook recently reported that it would allow a new form of ad targeting. Instead of simply using a user's interests, the custom audience ads will allow companies to target users through lists of email addresses.
According to Tech Crunch, these custom audience-targeted ads will be much more effective than previous ads because they can reach people who have already used a business' products or services. The news source reported that a bank might target customers with less savings differently than those with more, for example.
"I just bought a Ford Flex. Ford doesn't want to spend money advertising the Fusion Hybrid to me," Michael Lazerow, CMO of Marketing Cloud, told Direct Marketing News. "But they do want to market tips for new car owners and see whether I've been taken care of."
Social CRM is becoming a popular way for companies to access and understand their customers. Facebook may have made significant strides in CRM through the hyper-targeting of emails collected by the company.