Last weekend we sponsored a Facebook video advertising hackathon...before video ads were even launched. Why? Because there are huge opportunities to create new products. In fact, the hackathon already produced a potential winner.
For the event we challenged some smart local students and a couple ad tech veterans with the question: How would you add value to the upcoming Facebook video ads ecosystem?
The winning entry demonstrated a great new ad technology add-on to Facebook, with live demos cooked up for Jeep, Toys R Us, and Yoplait.
Facebook aims for TV and Youtube dollars
In their article: Leaked Facebook Video Ad Pitch Deck Reveals Plans To Steal TV And YouTube Dollars, Techcrunch revealed the sales pitch Facebook is making to the TV ad execs. Facebook wants to shift a portion of the $65 Billion a year in TV advertising spend over to Facebook ad spending.
Great, but this doesn't have to be a zero-sum game. Don't just shift the $65 Billion, grow the $65 Billion. Add more features. Give ad executives more reasons to buy. Extend the lifespan of the ad, extend the lift of the ad, and take that to more locations, such as the store aisle.
Facebook's starting point...
We add more...
Our hackathon product adds several synergistic features to Facebook video ads, so ad executives can test multiple new advertising concepts with a single purchase.
Another new Facebook ad technology comes from partners Optimal Media and Civolution. Their technology allow advertisers to "synch" ads in Facebook to TV being watched. Our hackathon technology will work with standard Facebook video and TV-synched video (and with other types of Facebook advertising too, although it's less synergistic).
Demographics and nanolocal
Facebook advertising is perfect for department stores, grocery stores, and national brands (food, fashion, and entertainment). This is because Facebook's strongest demographic is "women over 30" and these are the people who make the most purchase decisions in the brick-and-mortar shopping market (a $1.2 Trillion dollar market in the US).
Many people have been testing hyperlocal advertising, but now we're entering the era of "nano local" advertising. This means we the ability to use Facebook ads to make a direct link into the floor of the shopping store or aisle. Nanolocal ads provide the "holy grail" for CPG advertisers: the ability to attribute customer visits to specific ads plus the ability to reach deeply into the store itself.
Facebook's reach and audience share, extended "lift" and "lifespan", nanolocation, and better attribution...what a fun project! Best of all, the technology components are already in place and scalable.
Part 2 of the hackathon is coming soon and we're seeking experts to judge or advise. Contact Jim Bonner, VP of marketing, (650) 539-8950, firstname.lastname@example.org Event page
Note: This hackathon was not endorsed or affiliated with Facebook Inc. or Twitter Inc.