With the announcement of the Open Graph, Facebook has once again provided an evolutionary leap for the entire industry. Publishers, brands and consumers alike will benefit from “a smarter, personalized web that gets better with every action taken”, as concisely described by Mark Zuckerberg at yesterday’s F8 conference.  With Facebook’s critical mass (nearly 500 million members as of today), the Open Graph is poised to become the most powerful move the company has made so far – if successful it will revolutionize the web as we know it and propel Facebook into a position to compete with Google for the throne of dominance.

The Open Graph – We Like

Facebook is already fairly ubiquitous among consumers. Facebook Connect has extended that ubiquity to sites outside of Facebook, but the process for consumers, publishers and marketers was not seamless. While successful, Connect was not the technology that extended the social experience of Facebook to the entire web. But that is exactly what the Open Graph will do. Facebook has simplified the process of implementing the code for developers and for sharing and connecting with content and brands for consumers. It is truly a win-win-win. One line of code (an iFrame for those who care), will enable publishers to include a “Like” button, which will facilitate social actions anywhere on the web. As long as you are logged into Facebook, your cookie will allow your social graph to augment the experience on any site with the code. Bret Taylor said it best during F8  yesterday that “Lowering the friction of sharing will increase the volume of sharing”.

Vaults of Data

Facebook already sits on a data goldmine, but these vaults will become far deeper with wider ranging application as the Open Graph further connects social graphs of individuals, brands and publishers around the web. For now the targeting opportunities resulting from the additional data will be limited, most likely providing marketers the opportunity to target interests “liked” for the time being. But the potential of the data applications are profound – think Minority Report-like, as mobile and geo-location converge on the Open Graph.

Privacy

Inevitably there will be some privacy backlash, as all forms of behavioral data applications are under severe scrutiny by the FTC and advocacy groups. Of course Facebook thought about this too – and they will be rolling out a new simplistic privacy panel where you can opt out of the Open Graph. Ultimately there will be collection of an amount of non-personally identifiable data at a scale that we have never witnessed before, and the proximity and ability to connect it to personally identifiable information will most likely become the issue at hand. But the benefit of the Open Graph adding significant value to the overall consumer experience, and the affinity with Facebook as a trusted brand powering the collection, storage and usage of the data will trump any privacy backlash. Make no doubt about it – there will be some backlash – there always is – but we will get past it rather quickly. The social web is here in a big way, and our lives have been changed forever – and soon everyone will realize it.

A Monumental Day

For marketers, in the short term this turning point will make it exponentially easier to turn fans into advocates, identify new prospective customers, and drive peer influence through the coveted Facebook newsfeed. In the long term, the potential is far wider reaching and as mobile and geo-location (Facebook is launching their own geo-location service as well) converge with the Open Graph, this may be the catalyst that soon connects the online and offline world. It is truly a monumental day.

You can see the F8 conference videos here.

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