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Facebook Place Tips: Battle for local market

Facebook Place Tips: Battle for local market

Facebook recently introduced a new feature to their offering which is bound to change the way we receive location based feeds. With the new Facebook Place Tips, you can receive updates which combine information from your social circle about certain locations. Currently available for iPhone users, this new feature is bound to be a huge competitor to other companies that provide similar services such as Yelp and Foursquare. Despite having tried to do the same a couple of years back, Facebook was unable to hit off at the beginning owing to the fact that the feature did not catch on then and had to be reintroduced in a whole new way.

Second round of local market game

Eager to get more information about the local market, the social networking giant has joined the likes of Google Places and Foursquare by providing helpful tips about a location. One major advantage that Facebook has with the new feature is that the feeds are fetched from your network of friends instead of the entire network.
Facebook Place Tips
You can now receive information about the places that are closest to you curating reviews and updates from your friends. With helpful reviews from your own network, you will be now able to see what your friends are saying about places and business around you. This way, you are assured of having a good experience that relies on your trusted network of friends. This means that marketers can be able to better target an audience based on location in addition to tracking and obtaining information about the offline impact of their marketing campaigns. Being able to track this information will be a huge boon for Facebook as well since it will give them better insight into the audience preferences and use this information to enhance the user experience.

Using Facebook Place Tips

In order to get started with Facebook Place Tips, you will have to allow Facebook access to your location information from your account permissions. Location information is essential for this to work. This location information is obtained via cell tower triangulation, GPS information as well as Facebook Bluetooth® Beacons which are in a number of select locations at the moment. Once you have enabled the necessary location permissions, Facebook Place Tips will begin to appear in your timeline feed. The Facebook Place Tips appear with the other updates that are in your timeline and can be disabled from your account settings at any time.

Segmentation, Targeting & Positioning

For advertisers, the new feature will mean better targeting and audience segmentation when carrying out marketing campaigns. With reviews of Location pages coming from the friend network of a Facebook user, it will be much easier to get noticed in the right location by the right audience owing to the use of location data to display feeds to the user. For businesses that have a presence on Facebook, this new feature will make it much easier to get discovered by the relevant audience. In addition to this, the data and statistics that are collected from the target audience, one can be in a better position to track the offline impact of their marketing campaigns thus improving returns on investments as well as conversion rates.

Facebook has also launched, in addition to Place Tips, a Local Awareness feature for advertising objectives in order to better track advertising statistics.
Local Awareness advertising objective
This will lead to more advanced targeting for mobile ads which will eventually lead to more helpful insight for advertisers. With location information, the offering for users will be even better since they will be viewing contextually relevant information from their network.

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