Facebook has been very busy lately– figuring out how to monetize Graph Search, while improving its functionality.
The process of monetizing Graph Search comes as a welcome addition for Facebook investors.
Facebook currently has a limited monetization focus with search ads, which are not targeted to the user’s search criteria. Instead, standard targeting and retargeting methods are used. Ads appear at the bottom of the page only if there are multiple pages of search results. These ads are currently targeted like other Facebook ads; based on the user’s age, gender, location, employer, Likes, and previous sites visited.
A much more powerful option for advertisers would be to allow them to target specific keywords. Lower funnel keywords would be much more valuable to advertisers and could allow Facebook to command a much higher rate. Users would be shown relevant ads from businesses that have purchased those specific keywords within a specific geographic region. Perhaps Facebook will move in this direction in the future with Graph Search.
The latest Facebook Graph Search update, allowing users to drill down and refine searches, was unannounced, just as the new right-side menu rolled out. This new feature not only makes life easier on the user, it also prompts them to find additional people or relevant businesses.
Here is a screen shot of Graph Search for the broad category of “Car dealerships” —