How much social marketing is too much – or not enough?
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This document discusses strategies for social media marketing on Facebook. It provides key findings from research on Facebook assets and ads. Some of the main points include: - Pages have the highest engagement rate and share of clicks of all Facebook objects. Leveraging ads to drive traffic to pages can help scale a brand. - Post ads and sponsored stories typically have the highest response rates and lowest costs per click. High exposure rates also correlate with higher click-through and conversion rates. - The optimal frequency for ad delivery is 6 impressions or fewer per user, as engagement drops off significantly after that point. - Bidding above the maximum recommended bid can increase exposure rates while decreasing frequency. - Sponsored stories
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How much social marketing is too much – or not enough?
- 2. HOW MUCH SOCIAL MARKETING IS TOO MUCH – OR NOT ENOUGH?
- 3. AGENDA • Introductions & Methodology • Social Media Overview: Owned, Paid, and Earned Assets • Key Findings: Results and KPIs • Testing and Targeting: Country and Gender Insights • Key Takeaways for Retailers: Lowe’s POV 2
- 4. SPEAKERS Jeff Campbell Managing Director Resolution Media @CJeffCampbell Brad Walters Director, Social Media and Emerging Platforms Lowe’s @BradJWalters Aaron Goldman CMO Kenshoo @AaronGoldman
- 5. RESEARCH METHODOLOGY 4 GOALWHYWHAT Looked at global data across multiple brands Heard from many brands that they didn’t know if Facebook and social were “working” for their programs Wanted to provide the first benchmarks for Facebook ad performance and provide some actionable insights
- 6. SOCIAL MEDIA OVERVIEW Owned, Paid, and Earned Assets
- 7. FACEBOOK BRAND ASSETS 6 Owned Media Paid Media Earned Media
- 8. OWNED MEDIA: FACEBOOK OBJECTS 7 Page Place App Event
- 9. PAID MEDIA: FACEBOOK ADS 8 Post Ad Sponsored Story Web Ad Social Ad
- 10. FACEBOOK PORTFOLIO APPROACH 9 Balance assets to amplify your brand and generate activity on and off Facebook
- 11. KEY FINDINGS Results and Key Performance Indicators
- 12. Share of Clicks Driven to Facebook Objects by Ads Pages Drive the Highest Engagement Rate (Ad CTR) of all Facebook Objects Source: Social Media Insights Part 1 – Metrics That Matter | © 2012, Kenshoo, Inc. and Resolution Media DEVELOP A STRONG CORE OF OWNED ASSETS AND FANS 11 !Pages have the highest share of clicks and engagement rate of all Facebook Objects CTR Page Place App Event 0.0% 0.02% 0.04% 0.01% 0.03% 0.05% 0.02% 0.04% 0.03% 0.02% Page Place App Event 80.79% 10.58% 4.03% 4.60%
- 13. High Click-Through Rate Correlates to Low Cost-per-Click on Facebook Ads LEVERAGE ADS TO INCREASE REACH AND SCALE YOUR BRAND 12 !Post Ads and Sponsored Stories have the highest response rates and lowest CPCs 0.08% 0.00% 0.02% 0.04% 0.06% 0.07% CTR Post Ad Sponsored Story Web Ad Social Ad 0.01% 0.03% 0.05% $0.90 $- $0.20 $0.40 $0.60 $0.70 $0.10 $0.30 $0.50 $0.80 CPC Source: Social Media Insights Part 1 – Metrics That Matter | © 2012, Kenshoo, Inc. and Resolution Media
- 14. Social Endorsements for Likes and App Usage Drive Highest Sponsored Story Conversion Rates AMPLIFY YOUR OWNED MEDIA WITH PAID ADS 13 !In order to capitalize on Social Ads and Sponsored Stories, you must have a scalable fan base Conversion Rates App Share App Used Like Post Like 80% 0% 40% 60% 20% 0.18% 60.39% 77.25% 15.71% Source: Social Media Insights Part 1 – Metrics That Matter | © 2012, Kenshoo, Inc. and Resolution Media
- 15. Distribution of Facebook Ads by Exposure Rate LEVERAGE EXPOSURE RATE TO BENCHMARK PERFORMANCE 14 EXPOSURE RATE: Unique impressions divided by the target audience 10,000 0 2,000 4,000 6,000 8,000 Quartile 1 (0-25%) Quartile 2 (26-50%) Quartile 3 (51-75%) Quartile 4 (76-100%) Exposure Rate Source: Social Media Insights Part 1 – Metrics That Matter | © 2012, Kenshoo, Inc. and Resolution Media
- 16. High Facebook Ad Exposure Rates Correlate to High Click-Through Rates High Facebook Ad Exposure Rates Correlate to High Conversion Rates HIGHER EXPOSURE RATES = EFFICIENT AD ENGAGEMENT 15 CTR Quartile 1 (0-25%) Quartile 2 (26-50%) Quartile 3 (51-75%) Quartile 4 (76-100%) CVR 0.00% 0.02% 0.04% 0.01% 0.03% 0.00% 15.00% 35.00% 5.00% 25.00% 0.028% 0.031% 0.036% 0.038% Quartile 1 (0-25%) Quartile 2 (26-50%) Quartile 3 (51-75%) Quartile 4 (76-100%) 20.00% 10.00% 30.00% 11.81% 17.03% 28.57% 31.92% !When exposure rate is high, CTR and CVR are also high Source: Social Media Insights Part 1 – Metrics That Matter | © 2012, Kenshoo, Inc. and Resolution Media
- 17. Facebook Ads Average Conversion Rate is 75% Lower After the 6th Impression Facebook Ads Average CTR is 39% Lower After the 6th Impression KEEP FREQUENCY AT 6 OR BELOW TO KEEP ADS FRESH 16 CVR Frequency 1-3 Frequency 4-6 Frequency 7-9 Frequency Over 10 CTR 0% 20% 60% 10% 40% 0.00% 0.03% 0.01% 0.05% 57.17% 46.53% 14.61% 11.95% Frequency 1-3 Frequency 4-6 Frequency 7-9 Frequency Over 10 0.04% 0.02% 0.06% 0.059% 0.046% 0.035% 0.029% FREQUENCY: Total impressions divided by unique impressions; Optimal frequency is 6 or below 50% 30% Source: Social Media Insights Part 1 – Metrics That Matter | © 2012, Kenshoo, Inc. and Resolution Media
- 18. Bids Above the Facebook Recommended Maximum Bid Drive Up Average Exposure Rate by 11.5% Bids Above the Recommended Facebook Maximum Bid Decrease Average Frequency by 1.7 Exposures BID HIGHER FOR INCREASED ENGAGEMENT 17 Exposure Rate CPC < Max Rec. Bid CPC > Max Rec. Bid Frequency 5% 15% 10% 25% 5 11 7 13 8.73% 20.23% CPC < Max Rec. Bid CPC > Max Rec. Bid 9 11.62 9.93 20% !Max recommended bid amounts correlate to increased engagement Source: Social Media Insights Part 1 – Metrics That Matter | © 2012, Kenshoo, Inc. and Resolution Media
- 19. Sponsored Stories Most Effective Ad Type for Unique Brand Reach with 36% Exposure Rate Sponsored Stories Were Delivered with the Lowest Frequency, Driving Up Unique Users Reached SPONSORED STORIES SHOW THE SUCCESS OF OUR METRICS 18 Exposure Rate Frequency 0% 20% 10% 40% 0 5 15 .46% 35.99% Web Ad 10 6.55 12.49 30% !Sponsored Stories deliver the highest exposure rate and lowest frequency Post Ad Social Ad Sponsored Story Web AdPost Ad Social Ad Sponsored Story 6.83 5.83 1.23% 1.39% Source: Social Media Insights Part 1 – Metrics That Matter | © 2012, Kenshoo, Inc. and Resolution Media
- 20. TESTING AND TARGETING Country and Gender Insights
- 21. WHO’S THE FAIREST OF THEM ALL? 20 Available Male Target Audience On Facebook Available Female Target Audience On Facebook 42% 58%
- 22. MORE WOMEN ARE ON FACEBOOK, BUT… 21 53% 47% Budget Allocation for Facebook Ads 53% MALE 47% FEMALE
- 23. MEN ARE SERVED MORE FACEBOOK ADS… 22 Impression Volume for Facebook Ads Click Volume for Facebook Ads 58% 42% MALE FEMALE 60% 40% MALE FEMALE
- 24. …AND MEN ARE CHEAP 23 Cost-Per-Thousand (CPM) Impressions for Facebook Ads $0.00 $0.05 $0.10 $0.15 $0.20 $0.25 Cost per Click (CPC) for Facebook Ads $0.00 $0.20 $0.40 $0.60 $0.80 MALE FEMALE MALE FEMALE $0.51 $0.68 $0.16 $0.20
- 25. AD DOLLARS GO FURTHER WHEN TARGETING MALES 24 Exposure Rate for Facebook Ads 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% MALE FEMALE 7.88% 4.94%
- 26. AND YOU CAN AFFORD TO SHOW THEM THE SAME AD MORE OFTEN 25 Frequency for Facebook Ads 0.00 2.00 4.00 6.00 8.00 10.00 12.00 MALE FEMALE 11.95 9.74 Threshold for optimal frequency
- 27. Average Cost-Per-Click (CPC) for Facebook Ads GLOBAL INSIGHTS: US & UK ARE THE MOST EXPENSIVE MARKETS 26 Source: Global Social Media Insights © 2012, Resolution Media !It is imperative to research and leverage advanced audience targeting
- 28. AD TYPES AND FORMATS NEED TO BE ADJUSTED BY COUNTRY 27 MEXICO Mobile Phone Penetration 49.0% Facebook Users 35.6 Million Population 112 Million Online Ad Spending $159,000,000 % of Internet Users on Facebook 103% Internet User Penetration 31.0% GDP per Capita (USD) $15,610 TURKEY Mobile Phone Penetration 84.9% Facebook Users 31.1 Million Population 77.8 Million Online Ad Spending $264,000,000 % of Internet Users on Facebook 100% Internet User Penetration 39.8% GDP per Capita (USD) $14,517 !Consider ad formats based on device usage Source: Global Social Media Insights © 2012, Resolution Media
- 29. 28 Average Frequency for Delivery of Facebook Ads Maximum Recommended Bids for Facebook Ads LOW MAX RECOMMENDED BID AMOUNTS = GOOD TEST MARKETS !When the max recommended bid amounts are low, there is less competition Source: Global Social Media Insights © 2012, Resolution Media
- 30. Average Exposure Rate for Delivery of Facebook Ads Average Click-Through Rate (CTR) for Facebook Ads HIGH EXPOSURE RATES AND CTRS = HEAVY ENGAGEMENT 29 !When exposure and click-through rates are high, users are heavily engaged Source: Global Social Media Insights © 2012, Resolution Media
- 31. • Develop a strong core of owned assets and fans • Leverage paid ads to increase reach and scale your brand • Amplify your owned media with paid ads • Balance exposure rate with frequency • Bid higher than Facebook’s recommended max bid • For expensive markets, audience research is a must • Create very targeted ad segments and tailor ads accordingly • Consider ad formats based on device usage • Test everything! • Download the reports: • Kenshoo.com/White-Papers • ResolutionMedia.com/White-Papers SUMMARY
- 32. 31 KEY TAKEAWAYS FOR RETAILERS Lowe’s POV
- 33. LOWE’S BEST PRACTICES 32 • Establish your Social Media Objective • Jot it down and pin it up • Do you believe in it? Would your customers? • Remember, it’s not just about fans/followers • Content is key • Provide your audience relevant and useful content – Sarcastic/grumpy cats are not content foundations • Day parts and cadence are crucial, maximize your content efforts by targeting the best time of day for your brand
- 34. LOWE’S BEST PRACTICES 33 • “No Post Left Behind®” • Social Media is a conversation, not a one way street • Create a value-exchange between you and your customers – Conversate! • Every social platform has a purpose and a unique audience • Understand the complexion of your audience • Be true to each platform
- 35. VINE 34
- 36. PINTEREST 35
- 37. FACEBOOK 36
- 38. 37 SCALE TO SIGNIFICANCE: THE END RESULT Fans and followers aren’t understood Content isn’t maximized for the appropriate audience Hard to evaluate the effectiveness of social campaigns Audience data and profiles are defined The customer is provided relevant, valuable, and actionable content Influencing perception of the brand With a defined social objective, we can clearly start to measure the campaigns BEFORE AFTER
- 39. QUESTIONS? 38
Notes de l'éditeur
- What? Looked at global data across multiple brandsWhy? Heard from many brands that they didn’t know if ‘Facebook’ and social was ‘working’ for their programsGoal: Wanted to provide the first benchmarks for Facebook ad performance and provide some actionable insightsThis report reflects aggregated global data across a wide range of brands whose Facebook ad campaigns are managed by ResolutionMedia using Kenshoo Social. Industry verticals represented include entertainment, finance, retail, and insurance, among others.Brands represented include HBO, Hewlett-Packard, Monster, ING, Visa and Activision among others. The dataset examined for thisreport spans nearly 65 billion Facebook ad impressions and 20 million Facebook ad clicks during the 12-month period beginningMarch 1st, 2011 and ending February 29th, 2012.
- Build Campaigns Around Pages & Drive Interaction Within Facebook
- Each Ad Type Plays a Role within your campaignsSponsored Stories and Post Ads boast roughly double the response rate of Social Ads and Web Ads, as measured by click-throughrate (CTR) in Figure 1. It’s apparent that an ad with social context resonates better based on the personal connection made with theindividual on Facebook viewing the ad. Post Ads had the highest CTR of any ad type, most likely because they often feature specialoffers and are larger than the other ad units.
- Likes and Applications are truly social phenomena1. Ads that promote App Usage also act as a type of social endorsement becausethe ads show other users who are actively using the app. The act of using an app gives the app more validation among the socialnetwork as evidenced by a 60% conversion rate. This means that 6 out of every 10 people who click Sponsored Story ads promotingApp Usage actually install the application themselves. 2. Facebook has changed our definition of the word, “like.” In the context of Facebook, a Like is not simply a personal preference, it’san announcement to your entire social network of that preference. The odds are that you share many preferences with the peoplethat you are connected with on Facebook so that, if you like something, they are more inclined to like it as well. Figure 10 showsthe value of social endorsements as measured by conversion rate on Sponsored Story ads. Here we can see that nearly 80% of allpeople clicking on Sponsored Story ads promoting Page Likes convert to fans. Meanwhile, Post Like Sponsored Story ads carry a16% conversion rate.
- Exposure Rate is a new metric & a great social KPIWhat is Exposure Rate?3. Leverage our newly defined metric of Exposure Rate to benchmark the performance of your own programs. Our data shows that higher Exposure Rate leads to more efficient ad engagement. Overall, Sponsored Stories generate the highest Exposure Rate of any Facebook ad type.With Exposure Rate, we can determine what percentage of the entire desired target audience a brand is actually reaching andexposing to its message. Target audience is based on data Facebook provides for average monthly users because not all Facebookusers log in every day. Thus, the length of time that an ad runs live will affect its Exposure Rate. In other words, ads running for onlya few days will not be able to reach 100% exposure
- The higher the Exposure Rate, the better the performanceWhen exposure rate is high, CTR and CVR are also high3. Leverage our newly defined metric of Exposure Rate to benchmark the performance of your own programs. Our data shows that higher Exposure Rate leads to more efficient ad engagement. Overall, Sponsored Stories generate the highest Exposure Rate of any Facebook ad type.With Exposure Rate, we can determine what percentage of the entire desired target audience a brand is actually reaching andexposing to its message. Target audience is based on data Facebook provides for average monthly users because not all Facebookusers log in every day. Thus, the length of time that an ad runs live will affect its Exposure Rate. In other words, ads running for onlya few days will not be able to reach 100% exposure
- FREQUENCYTotal impressions divided by unique impressionsFrequency tells us how many times the average Facebook user has been exposed to your ad. While the optimal Frequency will vary for each adand each campaign, it’s important that this number not be so high that it oversaturates the target audience or so low that it doesn’t get noticed.To identify the impact of pre-engagement and post-engagement metrics on campaign success, we looked at how Exposure Rateand Frequency affect CTR and Conversion Rate.
- The higher the Exposure Rate, the better the performanceWhen exposure rate is high, CTR and CVR are also high3. Leverage our newly defined metric of Exposure Rate to benchmark the performance of your own programs. Our data shows that higher Exposure Rate leads to more efficient ad engagement. Overall, Sponsored Stories generate the highest Exposure Rate of any Facebook ad type.With Exposure Rate, we can determine what percentage of the entire desired target audience a brand is actually reaching andexposing to its message. Target audience is based on data Facebook provides for average monthly users because not all Facebookusers log in every day. Thus, the length of time that an ad runs live will affect its Exposure Rate. In other words, ads running for onlya few days will not be able to reach 100% exposure
- The higher the Exposure Rate, the better the performanceWhen exposure rate is high, CTR and CVR are also high3. Leverage our newly defined metric of Exposure Rate to benchmark the performance of your own programs. Our data shows that higher Exposure Rate leads to more efficient ad engagement. Overall, Sponsored Stories generate the highest Exposure Rate of any Facebook ad type.With Exposure Rate, we can determine what percentage of the entire desired target audience a brand is actually reaching andexposing to its message. Target audience is based on data Facebook provides for average monthly users because not all Facebookusers log in every day. Thus, the length of time that an ad runs live will affect its Exposure Rate. In other words, ads running for onlya few days will not be able to reach 100% exposure
- Gender: Who’s the fairest of them all?Women, of course
- There are more women than men on facebookBut Marketers Spend More Money Targeting Men. Why?We don’t know why yet…could be because of advanced audience insights, males are deemed to be more desireable
- b/c served more ads, they click on more adsCustom text/images – types of ads being served
- Men: Targeted more, click more, less expensiveIt costs less to reach men than womenOne Could Also Say Men Are Cheap…We don’t know why yet…could be because of advanced audience insights, males are deemed to be more desireable
- The higher exposure rate shows you can reach more of your unique audience when targeting malesLess waste with male targetingCheaper = more exposure of adsMarketers were more successful in hitting their target audience when serving males ads.
- They may just need reminding! Men are being exposed to ads more often
- If you’re launching facebook campaigns in expensive markets, audience research is a must – you’ll need to understand who your targets are, so you can be more efficient with your advertising dollarsTrack the exposure rate and frequency. If the frequency goes above a 6, scale backIf you’re launching a Facebook campaign in the US or UK, ensure you’ve researched your target audience. These markets have the highest CPMs and CPCs coupled with the lowest exposure rates. This indicates it is much more difficult to reach your desired audience in these markets, and when you do, you will pay more per impression or click. Simply setting up Facebook campaign targets isn’t enough. In addition to leveraging advanced audience targeting and research, you need to: Identify your targets Track exposure rate and frequency If frequency goes above a 6, scale back
- 1. Think about how you’re creating ads in different markets. For Mexico and Turkey specifically, ensure you’re paying particular attention to how your ads are formatted for mobile devices as these countries have a higher penetration of mobile users.
- Italy is a great Pan-European market to test out campaigns. It offers a high CTR, target frequency of 6 or below, and a low maximum recommended bid amount; all indicating a low cost to entry and high engagement with Facebook ads.
- 1. India is also a great Asian market, with low CPCs, the highest CTRs, high exposure rates and low maximum recommended bid amounts. This means, Indian users engage with Facebook ads heavily and it is easy to target the right audiences in India, with a low cost to entry indicated by low CPCs.