Magazine article Marketing

Facebook Calls Summit to Lure UK Advertisers

Magazine article Marketing

Facebook Calls Summit to Lure UK Advertisers

Article excerpt

Facebook is to hold a summit for the UK digital industry as part of its plan to become the platform of choice for brand advertising.

The social network is hosting its first 'Influencer Summit', a high-profile gathering of top UK agencies, with the aim of garnering a clear understanding of what brands want from its advertising platform.

The site has persuaded several UK agencies including AKQA, Dare and LBi to participate with the promise of 'an open exchange of ideas'

and the stated intention of 'advancing our businesses forward together'.

Facebook will fly top agency creatives and executives to its headquarters in Palo Alto, California, for the event.

By giving the UK agencies access to its senior executives, Facebook hopes to become central to brands' digital campaigns from conception and be their first choice of platform.

Facebook's existing model is based on direct-response advertising.

Ads are placed according to users' profile information, with the intended outcome of appearing relevant to their interests. However, Facebook wants to increase its commercial power by developing advertising formats that will enable brands to engage its base of more than 500m users.

Nigel Gwilliam, head of digital at the IPA, said it is key for social networks to have a greater role in the conversation between advertisers and consumers.

'At the moment, much of Facebook's advertising is fairly standard copy which is very targeted at users,' he said. …

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