What a difference staying the course makes. Facebook’s mobile monetization strategy is finally yielding positive results – which makes the press rethink what they previously said about Facebook’s strategy. Now I’m reading blogs that talk about Facebook as the leader in mobile monetization. I’m not sure any tech company has it figured out; kudos to any of them that are making a profit from their expanding user bases.
I don’t necessarily agree with the view that Facebook has mobile monetization figured out and will lead the industry. But I do believe they need to stay the course and see their strategy play itself out. They have 1 billion users to learn and grow from. If 50% of these users generate ad clicks – and these clicks are relevant to their users, this is their secret sauce IMO – then conversion rates could multiply by the power of social. For example the ad below was presented to me on Facebook tonite – which makes complete sense since my wife is gluten intolerant.
Notice how the ad contains the ‘GET $1.00 OFF’ call to action. Modern smartphones are the one computing device that all first world humans have in their possession almost 24×7. Any proposition presented in this context has to be relevant; useful at the moment it’s presented. What Facebook could have done to improve the placement of this ad is to present it as I’m leaving my house or as I’m entering the grocery store. They get this right and we might see real innovation in mobile monetization.