Facebook's chief operating officer Sheryl Sandberg made it clear to media buyers during an Advertising Week session in New York today that video is big business for the platform, and it's not afraid to go after big brands' TV budgets.
During a discussion with Josh Tyrangiel, Bloomberg's chief content officer, Sandberg heavily played up how Facebook is at least a complement to (if not a replacement for) television advertising. But, as brands invest more in video on the social platform, Sandberg acknowledged that marketers are concerned about what they're paying for and how it's measured.
"Our data says that if you do TV plus Facebook, you enhance your reach by 17, 18 percent and more than double that for millennials, which is a hard group to reach right now on TV." Sandberg said.
"If you look at most big campaigns, what you'll see is that [brands] do Facebook, Instagram, TV—a lot of them still do outdoor and print," she said. "But all of these things really work together if you tailor your message and the right audience."
Buying digital media is particularly challenging for Facebook's target of big-brand advertisers who have bought TV ads the same way for decades. To ease brands into buying more digital ads, Facebook this week launched TRPs (target-rating points), which use the old-school practice of having media buyers call Facebook reps to purchase campaigns.
In terms of other types of video, Sandberg said, Instagram's self-service ads are rolling out in the next two weeks, letting brands leverage Facebook's granular data to target them.
There's also Occulus Rift and virtual reality, which Sandberg said "is the future" but is also years away from gaining mainstream traction.
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