Priyanka Shitole
Facebook has introduced some new features on March 25-26, 2015 at the F8 Conference. As predicted in previous annual conferences, Facebook wants to grab YouTube’s market share and become a leading video service provider. Facebook is also aggressively updating its systems to offer more features for enterprises so that they can use Facebook as a tool to attract millennials and reach a broader audience. Most of the new features are geared towards businesses and focus on bring them closer to their customers. By letting users connect directly, businesses will focus on customer value creation and customer experiences. Facebook will allow businesses to emphasize customer insights on every step. Businesses can rely on Facebook for successful outside-in strategies.
- Embeddable Video Player: In pursuit of becoming the biggest video platform, Facebook has opened its doors to users. Now they can copy videos from their timeline and embed them on their websites. Facebook will also provide detailed insights for video publishers such as data and statistics on video embeds, and video views outside of Facebook. (Embeddable Video Player.) This will result in a serious impact on businesses’ spending on advertising. With a growing number of businesses and potential customers on Facebook, businesses will eventually start spending more on Facebook ads.
- Businesses On Messenger: By allowing plugin development for Facebook’s Messenger, businesses can change the way they communicate and handle their sales funnel. This is especially true for businesses with an e-commerce web presence. “During the checkout flow on a business’s site, a person can choose to start a conversation with a business, receive updates from that business on things like order confirmations and shipping status updates, and ask the business free-form questions about the order, receiving quick responses.” [note]Businesses On Messenger[/note] This feature will change the way people and businesses interact.
- Messenger Platform: Facebook is transforming its messenger to a full-fledged messaging platform. Developers can now add various plugins customized for GIFs, photos, videos, and audio clips. “Messenger Platform enables developers to easily build apps that integrate with Messenger; so that the more than 600 million people who use Messenger can find new, fun ways to express themselves with GIFs, photos, videos, audio clips and more. With Messenger Platform, an app’s content can be shared through private and group messages to spark conversations that are creative and expressive, while providing developers with growth and re-engagement opportunities.” – Messenger Platform.
- Analytics For Apps: This tool will allow businesses to track user behavior in apps, which can be very helpful for app advertisements on Facebook. Advertisers can learn where the users are coming from and where they go after clicking the ad. This tool is very insightful for e-commerce businesses. For example, they can track how many users are bailing out at checkout process because they have to fill out too much information. A “Cohorts” feature can compare the usage habits and install rates of users with data from a month prior. This can help businesses understand user lifetime value, user retention, and repeat purchase rates. The segmentation feature can help businesses understand what makes customers engage in a certain way. “With cross-network mobile app attribution and campaign measurement tools, Facebook Analytics enables you to measure the lifetime value by ad network or campaign.” – Analytics For Apps.
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