Marketers are only just beginning to figure out how social fits
into their overall marketing strategy, according to Facebook.
"Marketers are in a different stage of conversation; we haven't
really scratched the surface with them at Facebook," said Carolyn
Everson, Facebook global VP-marketing solutions, at a PaidContent
event last week.
And even though marketers can reach their existing Facebook fans
without buying ads, the bigger opportunity may be reaching the
friends of their fans through Facebook ads called
Sponsored Stories, which appear in the news feed, rather than
display ads' usual Facebook location on the right of the
"What having fans allows you to do is influencing those fan's
friends -- unlocking word of mouth at scale," said Kevin Barenblat,
CEO of Facebook marketing firm ContextOptional.
While advertising will remain Facebook's biggest source of
revenue for the foreseeable future, the Credits program now
accounts for 11% of Facebook revenue and will become more important
in the coming years, but it may never exceed Facebook
"I think long-term advertising is going to be a bigger
business," said Mike Lazerow, CEO of Buddy Media, which builds
social software for marketers. It's a $500 billion global market
and Facebook is the first online company that can make a compelling
argument for every part of that market. Long term, for any dollar
being spent on advertising, Facebook has at least one product that