THE END OF FBX
Facebook Announced Wednesday that it will be sunsetting the Facebook Exchange Platform in the fall.
In early 2015, Facebook pared down the number of partners who were able to purchase their ad inventory on the exchange to include names like Criteo, DataXu, MediaMath and AppNexus. On Wednesday, the social media giant gave these companies the final death knell, declaring that Facebook Exchange Platform will officially be no longer come November; the busiest quarter for most eCommerce brands.
This comes as Facebook looks to focus on developing their Dynamic Product Ad Unit & Audience Network. Dynamic Product Ads were launched as a solution for advertisers to import their product feed and remarket to users based on which products they visited on their site.
More Transparency & Greater Insight
By placing these Third Party Display Partner’s pixel on their site, advertisers have been able to remarket users who have viewed their website but as this capability is no longer available, brands will want to ensure the ownership of their own Facebook Ad Account. From this account, they will be able to receive their Facebook pixel to be placed across their site to capture users who have viewed their site and collect conversion data.
By having ownership of their own Facebook Ad Account, brands will have more transparency and insight into the performance of their Facebook program. Many of these display partners have been masking the true performance of Facebook behind ambiguous CPMs and limited conversion data. While Facebook is seen as a digital ‘push’ channel, brands should consider their remarketing as Direct Response and evaluate performance lower in the funnel.
Further more, the Facebook remarketing pixel allows for advertisers to reach their remarketing population across the many devices they use. As Facebook’s pixel tracks a user based on their Facebook ID, the products they they were browsing on their phone can now be presented on their Desktop computer & vice versa.
FBX Can No Longer Supplement A Facebook Strategy
Many advertisers have utilized FBX as a solution to entering Facebook. While this has served as a quick fix, it has not been as robust as advertisers who have viewed FBX as a part of an overall remarketing strategy on Facebook. At Chacka Marketing, we have been shifting social strategies for our clients away from using FBX and to a holistic mix of Facebook Advertising products. Many of our clients have found that working with an paid social media partner allows them the bandwidth to focus on content and community management while leaning on our professional team for trends and insights in the channel.
While Facebook can be seen as an isolated display network, we have developed programs that round out awareness and direct response efforts that deliver results.