Facebook is in fact working on this idea, as engineers look to incorporate metrics such as user comments and status updates to compile and rank results.
Meanwhile, companies that do want to take advantage of how Graph Search works should carve out local identities on Facebook, as opposed to relying on a larger corporate presence, panelists agreed.
"Brands that can reach users as quickly as possible and localize their content as quickly as possible will trump those who spend hundreds of millions of dollars," said Peter Fasano, senior vice president at Social@Ogilvy Atlanta, a technology consulting firm.
"If you're just pushing the same message out on your branded Facebook page that you're pushing on local Facebook pages, you're totally missing the boat," agreed Anderson.
Additionally, being able to see what the top searches are that are performed via Graph Search, in a fashion akin to Google Analytics, will help give businesses the information they need to improve their marketing efforts, speakers said.
Facebook launched Graph Search to a limited number of users in January.
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