In a few short days, Facebook will pull the plug on the third-party data sharing feature. This means advertisers will have to get that data on their own. The ‘Partner Categories’ ad targeting option was a BELOVED feature by many marketers…our team included!
It allowed us to target consumer behaviors, lifestyles, location, age, INCOME, hobbies (I once targeted people over the age of 65 who recently returned from a vacation) and other factors.
Facebook’s third-party data program feature was basically an all-inclusive treasure trove for advertisers. When we bought ads using Partner Categories, Facebook allocated a percentage of money to cover the data costs from the bid price.
Another fun fact is that Facebook won’t be changing the price of their ads even though they are removing the data feature. So, we’ll be paying the same amount we paid for ads with detailed targeting minus the detailed marketing data they once included.
Oracle Data Cloud is just one example of a “data broker” who gathers information by targeting browsers, public records, and purchases. The changes mean that marketers will now have to gather third-party data themselves by using companies like Oracle.
We have the Cambridge Analytica scandal to thank for the new privacy and data protection practices. But, overall it’s a good thing! Now there’s more transparency on data collection both as a user and advertiser. It will just take a little more work on the advertising side of things to keep ad costs down.