Facebook Data Collection: So Advanced It’s Almost Scary
We’ve all been there. You’re scrolling your News Feed only to come across an ad that just seems too good to be true. How did they know I wanted that? It’s a common occurrence these days when browsing your news feed and people are really starting to take notice. In this article, we will cover how Facebook accomplishes this through data collection.
How It Works
Facebook purchases data from third-party brokers allowing advertisers to access over 600 various points of your personal data. Once all of the information is aggregated from the various providers it gives Facebook a scary amount of information on your personal behaviors, interests, and demographics.
This doesn’t include all of the data Facebook has that you provided directly to Facebook such as the movies you like, tv shows, books, who you are friends with, where you went to high school, where you have checked in etc etc etc. One could argue that Facebook’s algorithm actually knows more about you than most of your closest friends and family members.
Information from data brokers such as Acxiom, Oracle, Datalogix, and Epsilon are all included in Facebook advertising categories. These third party data collection companies are compiling information from credit card providers, public databases, mailing lists, browsing cookies and much, much more! Once the broker collects the data they then sell it off to Facebook and add it to your “behavior profile”. From there, users are pooled into categories that anyone can target when running ads on Facebook. These data collection practices are what make some of our buyer and seller targeting categories so effective.
Use It to Your Advantage
Instead of being scared of these practices use them to your advantage! Real Estate agents and brokerages can generate a faucet of buyer and seller leads through Facebook. Want to target people that are likely to move? Facebook has you covered there. Want to target former veterans who may qualify for VA loan programs? Facebook also has those targeting options dialed in for you.
While this might be new information to some of you. The fact of the matter is, almost every major retailer, grocery store chain, and financial institution is a data collection machine. When pairing all of the purchase information with your public profile, search history, contacts, friends list, and even things as simple as the settings on your account. It allows Facebook to create a profile so complex that one could argue that they have one of the most robust databases in the world.
A.I. = The Future
More recently the company has been refining another technology. Taking their data collection practices to a whole new level. Even beyond just predicting behaviors. Facebook is now using its ‘Applied Machine Learning’ technologies with their existing processes to gain an even better understanding of platform users.
Applied Machine Learning is able to connect all the dots they were not previously able to detect. And, it is now learning at an exponential rate. While this might be a little unnerving to know they have all that information, the truth of the matter is that this is really amazing news for marketers and advertisers.
With Facebook implementing all of these various tactics, and with the innovation in new technologies. They are allowing us to target our audiences with amazing precision, and it is only getting better. Whoever says, “Facebook ads don’t work” clearly doesn’t know how to implement these advanced targeting options.
Luckily for you, the Elevated REM team is here to keep you up to date with the latest Facebook strategies. So what are some of your favorite forms of targeting? Do you prefer to target sellers or buyers? Comment below and let us know
Thank you for reading our blog. Have a great day everyone!
Real Estate ProTip: If you would like the companies mentioned above to stop gathering your data. Please feel free to visit Evidon where you can do a “Global Opt-Out” and prevent these companies from gathering & recording your personal information.
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