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Facebook began trying to monetize the medium of mobile six months ago and what a result they've had - already. Last week the social networking giant announced that revenue from mobile devices made up 14 percent, or $152 million, of advertising revenue in the third quarter of 2012. Shares started to soar. The launch of in-app ads will no doubt cause the high to continue.

With 1/7 of the world's population on Facebook and ¾ of the world having access to a mobile device, it is fair to say that mobile advertisers are somewhat excited by Facebook's next move in their mobile monetization strategy - the launch of in-app ads which also comes with the news that audience targeting will shortly be added to existing facilities.

Facebook on mobile web, especially on iOS, fails to lend the user as good an experience as if the site is accessed via a native application. Naturally, more and more users are downloading and installing the app.

The launch of in-app ads and audience targeting will add huge volume to Facebook's advertising traffic flow. Attribution and tracking is done via an SDK, which must be installed in the promoted app – a standard approach out in the field. Advertisers will have increased capability to target ads much more directly, resulting in much improved response rates.