Facebook HQ must be thankful today is Friday. This week, the social network giant was busier than usual launching major new initiatives (Facebook Stories), copping to the fact that 9 percent of its accounts are indeed fake, and consoling their boss after he lost a staggering $423 million dollars yesterday when the company’s stock once again dipped to a new low–this time, below $20 per share. But for every up there is a down, and Facebook soldiered on, announcing shortly after a promising new update to its platform.
The update, which went into effect immediately, allows page administrators to refine the audience to which they share content according to 5 new criteria: gender, “interested in” responses, relationship status, education level, and workplace (previously, the only targeting options were language and location). Though introduced quietly, this update could prove to be one of Facebook’s most useful for brands and marketers. Particularly among luxury brands, 40 percent of which used some form of Facebook content-customization in the past year, according to our 2012 Facebook IQ Index report. With these new options, Tiffany & Co., for example, could share a holiday engagement ring ad campaign with males “in a relationship” that have at least a college degree (higher education generally translates to higher income) and work in high-earning fields like finance, medicine, business and law. And if they’re smart, they would also target their significant others for the “nudge” factor. Instead of only creating campaigns that appeal to the entire Tiffany fanbase, this new content-targeting provides the opportunity to tailor campaigns to specific audiences.
And while luxury brands are happy to pad their “like” totals with thousands (or more) who could never afford their products, they’re likely even more keen to have the opportunity to speak more personally with that small fraction looking to buy.