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Facebook Inc (FB), Jon Steinberg’s New Big Deal In the Ad Industry Worries Google Inc (GOOGL)

Facebook Inc (NASDAQ:FB)‘s New Advertisement tool, Atlas Is a wake-up call for Google Inc (NASDAQ:GOOGL)‘s DoubleClick which lacks in quite a few aspects that Facebook is setting out to exploit, and of course its enormous social media platform is intricately tied to all of them. On CNBC, Julia Boorstin reported the edge of Facebook Inc (NASDAQ:FB)’s new advertisement tool, Atlas, as compared to Google Inc (NASDAQ:GOOGL)’s DoubleClick, while Jon Steinberg, CEO of Daily Mail North America shared his thoughts on the matter.

Facebook Inc. (NASDAQ:FB)

Advertisement companies need more information about the consumers that they are targeting so that they can reach out to them in a most cost-effective manner. Steinberg explained that Facebook Inc (NASDAQ:FB)’s new tool provides this information from a universe of consumers, namely the offline consumers, who were earlier unaccounted for by the latest internet advertising tools like those employed by Google Inc (NASDAQ:GOOGL).

” […] I think it is a very big deal because of the offline conversion. Facebook Inc (NASDAQ:FB) actually put up on the atlas site today that 94% of goods are bought offline. Because Facebook has your name, your email address, your phone number, all that information, they should then be able to match you offline if you go and buy a CPG, a beverage, something of that nature at grocery stores. That’s a very very big deal […],” said Steinberg.

Google Inc (NASDAQ:GOOGL) which had earlier controlled a third of revenue from online ads, according to Boorstin, is at a significant disadvantage now as Facebook Inc (NASDAQ:FB)’s new tool collects data on consumers not just on internet browsers but also across other devices including mobiles.

Boorstin explained that this is the main differentiating factor between the other ad tools in the market and the one by Facebook Inc (NASDAQ:FB). The reason why Facebook has been able to do this is because it can link people through their facebook profiles while they are making purchases from their mobiles. The tool helps advertisers buy ad space and also track their advertisements.

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