Facebook’s 500 million users have a lot to say, and now a new application from Wowd will help consumers sort through frequent updates to find the Facebook news they want. For marketers, this tool offers the chance to cut through the social site’s chatter with targeted ads that are relevant to Facebook searchers’ queries.

Wowd says it offers users the chance to see their feeds “simple and summarized.” The service can be downloaded for free, and it enables preference settings, allowing users to receive news updates on hot topics or from favorite friends. Moreover, Wowd offers Facebook searchers a Hot List update with the latest content from the entire web.

Some have compared the feature to Google’s latest updates to Google News, which let readers create settings for topics of particular interest or preferred news sources. Now, Wowd brings the power of customized news search to the world’s leading social site – and marketers may like the advertising opportunities this creates when it comes to reaching the ever-growing Facebook user base.

Wowd’s CEO, Mark Drummond, told MediaPost the tool will help marketers by triggering their paid search ads based on relevant search terms and status updates. “We plan to experiment by tying ads to topics in conversations and then place them in the conversation clearly marked as ads,” he said.

The new application is just one more reason why brands should invest in Facebook advertisements. Recent reports indicate that ad spend on the platform is on the rise, coinciding with a recent uptick in adoption from millions of young, affluent consumers.