Last week Proctor & Gamble announced that it was cutting back significantly on “targeted” Facebook Ads, and some people mistakenly assumed that this was a big blow to Facebook, or a big black eye for Facebook’s targeted ads. (For those of you who don’t know, the announcement made a lot of headlines, because P&G is the world’s largest advertiser, spending around $2.6 billion per year on its brands.)
But P&G should NOT be doing targeted Facebook Ads, and that doesn’t have anything to do with how powerful or weak Facebook Ads are. P&G shouldn’t be using targeted Facebook Ads because P&G wants to reach everyone, and when you want to reach everyone, hyper-targeting is overrated.
But if you are not P&G, and you don’t have a $2.6 billion budget to spend on your ads, then you should ignore the fact that P&G is cutting its Facebook budget. If you want to reach only high school biology teachers, and you don’t want to reach Middle School earth science teachers, then Facebook is an awesome system. You can hypertarget down to the grade-level, or just about any other level you want. It might not be great for P&G’s mega-brands, but it’s fantastic for the vast majority of businesses that are trying to reach targeted audiences.