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Users can share information about businesses with their friends and interact directly with the business through its Facebook page by adding reviews or uploading photos.
"The core of every users experience on Facebook is their page, and thats where businesses are going to start as well," Zuckerberg said. "The first thing businesses can do is design a page to craft the exact experience they want people to see."
To read more about Facebook parting the walled garden, click here.
Facebooks ad system benefits advertisers by serving Social Ads that combine social actions from users friends with an advertisers message, allowing them to deliver more tailored and relevant ads to Facebook users. Social Ads can appear either within a users News Feed as sponsored content or in the ad space in the left side of the site.
Facebook said no personally identifiable information is shared with an advertiser in creating a Social Ad.
Facebook Ads comes weeks after Zuckerberg said on Oct. 17 that Facebook would delve into online advertising.
By offering a way to target ads for social networks, Facebook has opened up a new front in its competition versus Google and MySpace to corner a new online ad market.
To wit, Facebook Ads also comes on the heels of MySpaces Nov. 5 announcement of SelfServe by MySpace, a new targeted advertising platform designed to allow small business owners, bands, and politicians to buy, create and analyze the performance of ads throughout MySpace network.
The SelfServe by MySpace lets users select from a number of ad-targeting factors, including geography and other demographics. SelfServe participants can use the customized tool to pay for their ads and initiate placement. SelfServe by MySpace users will also have access to analytics tools to let them track their ad performance.