Four billion videos are being watched on Facebook every day, and the company will start monitoring what users are watching and how, in order to increase the revenue collected.
Facebook is increasingly becoming more and more interested in what it’s users behave like, monitoring likes, social interaction focus points and event check ins.
The new Facebook video algorithm is set up in order to show the most relevant video’s to each users. The newsfeed will change according to the user’s preferred subject, length of view and amount of likes and shares that each video has.
In order to make this algorithm work data has to be collected from each user and the ones who watch less videos for example will have fewer show up in their news-feed, while the reverse will happen for those who have a high amount of video watching time.
Other changes that will soon help adjust personal newsfeeds are going to take place. Facebook also announced that the amount of time each users spends on different topics will influence what will be popularized and how personal news-feeds will change.
Facebook has recorded a $12 Billion in revenue last year but the economic influence of the company is far greater. The reason for Facebook’s ambitions of heavily personalizing news-feeds and prioritizing relevant information has a direct connection to how the company makes a profit.
With better personalization, more accurate product placement can be achieved, including through news and videos, making Facebook a more efficient marketing platform.
A Facebook commissioned report stated that more than 4.5 million jobs were created due to the company’s presence on the market. The same report claimed that Facebook was responsible for $227 billion in economic impact globally.
Although the Facebook commissioned report was heavily questioned with many economists saying it is exaggerated, the company’s immense influence as a social marketing platform is undeniable.
The social media giant reported in 2015 that more than 40 million small businesses had a Facebook page, of which 2 million were active advertisers.
It is this huge gap between the number of businesses that have a Facebook page and the small percentage of them who spend money on advertising that is probably prompting the company to increase its efficiency in regards to advertising.
Increasing its potential for targeting the right customer and the right information could make Facebook a profitable platform for ad space. Facebook also depends on keeping users interested in their newsfeed if it is to increase its marketing potential.
The company will also improve the way data can be seen by page admins, upgrading the admin dashboard with more options that allow for a better evaluation of video views , duration and other information.
The company also annouced live one-chat support for page admins, replacing the old unattractive and inefficient system of mail support.
Image Source: screen.yahoo.com