Partner categories are a method of ad targeting that allows brands to market to users based on the users’ online purchasing histories. Partner categories adds an additional targeting dimension using data based on their previous purchasing history with the social network insisting that users privacy is not compromised by the tool.
Let’s assume you sell luxury watches, you can target people who have previously purchased a watch and even the type of brand, and who lives close to your catchment area. You can also target people who have purchased luxury watches at least five years ago who might be looking to purchase again. Whereas the shop might only have been able to deliver advertising based on simple demographics and interests, partner categories include a mix of transactional data, survey information and other online and offline behaviours. This means you can target the audience that is most likely to make a purchase.
With Facebook’s partners data giants Acxiom and Datalogix, the service launched with 500 partner categories in the US last April and has expanded to offer more than 1000 with the platform believing that there is significant opportunity ahead as they continue to improve targeting capabilities. In fact Marketers in the UK, Germany and France now have access to this new feature as popularity in the ability to create more relevant advertising grows.
Lorry Destainville – Product Development Director @ Glow
Targeting your Facebook ads using data from Acxiom and Datalogix allows you to reach out and segment by a number of categories including petrol, department, store card, travel, entertainment, health and beauty, computer electronics and so on. You can also reach purchasers based on their spending method and whether the purchaser uses cash or credit. There is no personal information provided about the users and advertisers are able to choose its advertising route based on the size of audience included in the category.
Facebook also has additional targeting options that can be added such as demographic and interest-based targeting options to further refine audience segments. The targeting functionality is anonymised through matching third party data which include email addresses and phone numbers along with encrypted Facebook user ID’s, to adhere to stringent US and EU privacy laws. Facebook said that no data will be shared between Facebook, third parties or advertisers.
Partner Categories was designed to micro-target specific sets of consumers based on their in-store purchase intent and buying behaviours, in turn creative can be customized with highly relevant ad copy to deliver the most effective message.
Brands can target ads to use as by category, such as users whose behaviour created interest and based on their activities both on the social network and elsewhere on the web including mobile and offline.
Facebook said “Partner categories are targeting clusters created by our 3rd party data providers. It is a packaged targeting option to reach the kinds of people advertisers want to find on Facebook, based on these people’s off-Facebook activity. These categories are most similar to Broad Categories but are defined by partner data matching.”
The Glow Machine is a next generation social advertising platform, which helps advertisers build, manage and optimize their Facebook ad campaigns at scale. Developed in conjunction with some of the largest and most sophisticated Facebook ad agencies in Europe & North America, it gives greater control over how, where and when ads are displayed to the target audience.
For example, US Bank required our expertise in direct response on Facebook to acquire approved credit card registrations below their target Cost per Lead (CPL). By using a variety of optimization and targeting options in conjunction with Acxiom’s Partner Categories we were able to exceed US Bank’s set objectives.
Beginning with the initial campaign phase, split testing was implemented to establish best performing demographics, ad units and bid options. The company was able to quickly identify the best route towards moving to scale. Ads were delivered to both Newsfeed and Right Hand Side, to gender neutral ages 25-54, split into 3-5 year brackets, in the US only. Immediately a number of key learning’s were established, such as seeing how Unpublished Photo and Link Page Posts out performed right-hand side “Standard” Ads by 110%.
Based on the findings from the test phase, the second phase involved moving spend towards the best performing campaign attributes. At this point we introduced the use of Acxiom’s Partner Categories which were able to deliver a new dynamic element to the campaign, in depth data was matched to individual Facebook user ID’s. Specific user groups were targeted based on Acxiom’s data on credit card intenders, frequent credit card users, those who shopped with competitors and who made purchases at luxury, upscale, high-end department stores.
Using attractive creative and strong calls to action – ‘Apply Today, Click here’, we were able to drive the top performing ad unit, which generated over 60% of all approved or conditionally approved credit card applications in addition to generating over 1,500 Page Likes. The overall campaign Cost Per Lead was lowered by 40% making this a very successful campaign for US Bank.
The aim of Facebook Partner Categories is to help brands create stronger connections with the consumer online in order to acquire new customers through highly targeted advertising. Partner Categories has been designed to leverage insights beyond the social persona and early indicators suggest that the investment in this new technology is a welcomed addition.
Lorry Destainville – Product Development Director
Joining Glow Media in early 2013 as a Product Development Director, Lorry brings with him an unparalleled expertise in social media marketing, having established his reputation working for some of the major platforms in the social space. With broad experience in digital marketing, Lorry has worked for both MySpace in Paris and Facebook in Dublin. Combining his expertise in Facebook’s advertising solution with his aptitude for understanding customer business problems, Lorry became the natural link between Facebook engineering / product leaders and their biggest advertisers in EMEA.
Sunak to use budget to expand apprenticeships in England
LONDON (Reuters) – British finance minister Rishi Sunak will announce more funding for apprenticeships in England when he unveils his budget next week, the government said on Friday.
Employers taking part in the Apprenticeship Initiative Scheme will from April 1 receive 3,000 pounds ($4,179) for each apprentice hired, regardless of age – an increase on current grants of between 1,500 and 2,000 pounds depending on age.
The scheme will extended by six months until the end of September, the finance ministry said.
Sunak will also announce an extra 126 million pounds for traineeships for up to 43,000 placements.
Sunak’s March 3 budget will likely include a new round of spending to prop up the economy during what he hopes will be the last phase of lockdown, but he will also probably signal tax rises ahead to plug the huge hole in the public finances.
Sunak is also expected to announce a “flexi-job” apprenticeship scheme, whereby apprentices can join an agency and work for multiple employers in one sector, the finance ministry said.
“We know there’s more to do and it’s vital this continues throughout the next stage of our recovery, which is why I’m boosting support for these programmes, helping jobseekers and employers alike,” Sunak said in a statement.
(Reporting by Andy Bruce, editing by David Milliken)
UK seeks G7 consensus on digital competition after Facebook blackout
LONDON (Reuters) – Britain is seeking to build a consensus among G7 nations on how to stop large technology companies exploiting their dominance, warning that there can be no repeat of Facebook’s one-week media blackout in Australia.
Facebook’s row with the Australian government over payment for local news, although now resolved, has increased international focus on the power wielded by tech corporations.
“We will hold these companies to account and bridge the gap between what they say they do and what happens in practice,” Britain’s digital minister Oliver Dowden said on Friday.
“We will prevent these firms from exploiting their dominance to the detriment of people and the businesses that rely on them.”
Dowden said recent events had strengthened his view that digital markets did not currently function properly.
He spoke after a meeting with Facebook’s Vice-President for Global Affairs, Nick Clegg, a former British deputy prime minister.
“I put these concerns to Facebook and set out our interest in levelling the playing field to enable proper commercial relationships to be formed. We must avoid such nuclear options being taken again,” Dowden said in a statement.
Facebook said in a statement that the call had been constructive, and that it had already struck commercial deals with most major publishers in Britain.
“Nick strongly agreed with the Secretary of Stateâ€™s (Dowden’s) assertion that the governmentâ€™s general preference is for companies to enter freely into proper commercial relationships with each other,” a Facebook spokesman said.
Britain will host a meeting of G7 leaders in June.
It is seeking to build consensus there for coordinated action toward “promoting competitive, innovative digital markets while protecting the free speech and journalism that underpin our democracy and precious liberties,” Dowden said.
The G7 comprises the United States, Japan, Britain, Germany, France, Italy and Canada, but Australia has also been invited.
Britain is working on a new competition regime aimed at giving consumers more control over their data, and introducing legislation that could regulate social media platforms to prevent the spread of illegal or extremist content and bullying.
(Reporting by William James; Editing by Gareth Jones and John Stonestreet)
Britain to offer fast-track visas to bolster fintechs after Brexit
By Huw Jones
LONDON (Reuters) – Britain said on Friday it would offer a fast-track visa scheme for jobs at high-growth companies after a government-backed review warned that financial technology firms will struggle with Brexit and tougher competition for global talent.
Finance minister Rishi Sunak said that now Britain has left the European Union, it wants to make sure its immigration system helps businesses attract the best hires.
“This new fast-track scale-up stream will make it easier for fintech firms to recruit innovators and job creators, who will help them grow,” Sunak said in a statement.
Over 40% of fintech staff in Britain come from overseas, and the new visa scheme, open to migrants with job offers at high-growth firms that are scaling up, will start in March 2022.
Brexit cut fintechs’ access to the EU single market and made it far harder to employ staff from the bloc, leaving Britain less attractive for the industry.
The review published on Friday and headed by Ron Kalifa, former CEO of payments fintech Worldpay, set out a “strategy and delivery model” that also includes a new 1 billion pound ($1.39 billion) start-up fund.
“It’s about underpinning financial services and our place in the world, and bringing innovation into mainstream banking,” Kalifa told Reuters.
Britain has a 10% share of the global fintech market, generating 11 billion pounds ($15.6 billion) in revenue.
The review said Brexit, heavy investment in fintech by Australia, Canada and Singapore, and the need to be nimbler as COVID-19 accelerates digitalisation of finance, all mean the sector’s future in Britain is not assured.
It also recommends more flexible listing rules for fintechs to catch up with New York.
“We recognise the need to make the UK attractive a more attractive location for IPOs,” said Britain’s financial services minister John Glen, adding that a separate review on listings rules would be published shortly.
“Those findings, along with Ron’s report today, should provide an excellent evidence base for further reform.”
Britain pioneered “sandboxes” to allow fintechs to test products on real consumers under supervision, and the review says regulators should move to the next stage and set up “scale-boxes” to help fintechs navigate red tape to grow.
“It’s a question of knowing who to call when there’s a problem,” said Kay Swinburne, vice chair of financial services at consultants KPMG and a contributor to the review.
A UK fintech wanting to serve EU clients would have to open a hub in the bloc, an expensive undertaking for a start-up.
“Leaving the EU and access to the single market going away is a big deal, so the UK has to do something significant to make fintechs stay here,” Swinburne said.
The review seeks to join the dots on fintech policy across government departments and regulators, and marshal private sector efforts under a new Centre for Finance, Innovation and Technology (CFIT).
“There is no framework but bits of individual policies, and nowhere does it come together,” said Rachel Kent, a lawyer at Hogan Lovells and contributor to the review.
($1 = 0.7064 pounds)
(Reporting by Huw Jones; editing by Jane Merriman and John Stonestreet)
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