Who cares about the data of millions of consumers, perhaps more valuable still is the data Facebook harvests from small business every second. Adding a Facebook pixel to your site and pressing the Advanced button means you open up your site to basically complete monitoring by Facebook. What do they do exactly with the data they collect from the millions of small businesses? What can they do, what can’t they do? Small business should consider a Facebook audit and review their privacy settings.
The ultimate problem one can easily foresee with all this data Facebook has collected from millions of small business is, who cares if your company makes sure to do due diligance on the Facebook privacy settings, giving Facebook only the data you are comfortable sharing? Because literally thousands of other small businesses like yours have already given away their data. Facebook doesn’t really need your data to sell your competitor insights into your customer that you would like to keep to yourself.
But of course with the Facebook Insights tool you can glean in aggregate a lot of interesting market/industry wide business intelligence relevant to your business planning? 😉
Hyper targeting is the promised land for Facebook advertising, but the problem is, or the limit to Facebook’s ambitions in the end perhaps is that human beings really aren’t that complicated. Once your company figures out its core targets with all the usual tools – internal sales data, test marketing, site analytics, andFacebook’s Insights Tool also 😉 then maybe Facebook small business data won’t quite put small business out of business. But certainly as a small business owner of a Facebook marketing investing company you should spend a few minutes making sure your company’s Facebook privacy settings are where you want them.
Especially companies using Facebook Pixel, a popular remarketing strategy on Facebook, take a minute to protect your company’s information and make sure you are sharing valuable company site data in the way that you are comfortable with.