Facebook is set to introduce a new advertising bidding system that allows advertisers to target members based on their browsing history, reports Bloomberg.

Facebook Exchange allows marketers to target members who have previously viewed certain websites based on cookies. “For example, users who have visited travel sites to research trips to Hawaii may later see a promotion on Facebook about hotels in Hawaii,” said Bloomberg.

Advertising prices will be based on the cost per thousand viewers and spots will be sold via third-party technology partners, said the report, which predicted the model to arrive “within weeks”.

Jonathan Beeston, director of new product innovation at Adobe, commented: “By offering real-time bidding, Facebook is providing advertisers with powerful possibilities, even though the opportunity to utilise the vast data potential that it holds on its 900 million users won’t be accessible at the moment.

“Again, Facebook needs to tread carefully to maintain the trust of its users. However, being to re-target relevant adverts to users who have been cookied elsewhere is a huge first step and will continue to propel the dynamic shift from display to real time.

“Advertisers need to see this in the context of all social opportunities, such as Facebook pages and apps, as well as their broader online advertising and marketing efforts in search, email and so on. Being able to manage campaigns within a unified platform that can use all an advertiser’s data will be the key to success.”