Social advertising is a rapidly changing enterprise. As the pendulum swings from data to creative (and back), Boost Media balances both to handle the creative for Facebook and other social ads for major companies such as Zynga, Geico, Home Shopping Network and Microsoft.
Boost Media also recently partnered with Facebook Preferred Marketing Developer Marin Software. The company’s Vice President of Marketing and Business Development, Erik Ford, chatted with Inside Facebook about the ever-changing Facebook ad landscape.
Inside Facebook: What are some advertising trends you’ve been noticing recently on Facebook?
Erik Ford: Advertisers are becoming a lot more comfortable with the Facebook ad platform. I think that’s because of a couple main reasons. One, the advancement, maturity and the robustness of the platform. You’ve got the right integrations with (Facebook) Exchange going on now. You’ve got the right API calls available to give advertisers the data that they need and that they’re looking for. Just from the metrics that they need and the support they need, to target the right audience and measure it — they’re there.
Though Facebook’s ad revenue continues to grow, a recent development could make the social network’s ad model even more enticing to retailers. Last month, Facebook added some capabilities to its Custom Audiences product, allowing marketers to target users who had taken certain actions on their website, such as adding an item to a their cart, but not converting.
Among beta testers of this technology, JackThreads saw an 8x return on ad spend. Custom Audiences has another major fan in Facebook Preferred Marketing Developer Marin Software. The company recently published a white paper, explaining how Custom Audiences can help businesses convert customers via smart Facebook advertising. Marin Software Senior Marketing Manager Dan Morris talked with Inside Facebook about how this can change the game for advertisers.
As advertisers and marketers draw up their post-holiday plans, Facebook Preferred Marketing Developer Marin Software shared a comprehensive whitepaper outlining four key trends for 2014.
Marin pointed out that marketers have really embraced News Feed, as opposed to sidebar, for native advertising, and that users are on mobile now more than ever. Marin found that users are much more likely to buy from brands they’ve had previous social engagements with. Lastly, Marin feels that marketers should be wiser about switching up their creatives on Facebook to prevent showing users the same ads over and over.
Facebook is looking to cut into Twitter’s market share in terms of interaction during television shows. The social network has adopted hashtags and opened up its data cache to media channels in an effort to get more people posting on Facebook as they watch their favorite programs.
A new study by Facebook Preferred Marketing Developer Optimal and Civolution shows just how significant the Facebook second-screen experience is, especially when it comes to advertising.
Google has decided to rejoin Facebook Exchange, the company announced in a blog post Friday. Google’s DoubleClick Bid Manager will become part of the FBX network, allowing its ad partners to deliver retargeted ads on the social network based on web browsing history.
Facebook on Tuesday announced a major update to Custom Audiences that would allow marketers to target ads to people who have visited the company’s website or used the mobile app.
Facebook notes that this is rolling out globally over the next couple months.
Facebook Preferred Marketing Developer Kenshoo unveiled a technology Monday that forecasts return on investment goals and automatically adjusts ad campaigns to meet those benchmarks.
Kenshoo Halogen Technology gives marketers insight and visibility into the future performance of ad campaigns. Armed with that knowledge, advertisers can find untapped market potential and make better-informed decisions about how to optimize an ad strategy.
Facebook surprised Wall Street on July 24 with a quarterly earnings report that exceeded revenue and profit expectations by a wide margin, largely due to the growth of mobile advertising, which now accounts for 41 percent of total ad revenue generated by the social network. Little mentioned, however, was the status of the Facebook Exchange (FBX) ad business, except for a comment by Chief Operating Officer Sheryl Sandberg, who noted that FBX remains a “very small part” of the company’s overall ad revenue.
Facebook has recently started to expand Facebook Exchange (FBX) — its popular retargeting ad platform — from the sidebar into the desktop News Feed, where most of the time is spent on the site.
AdRoll has found these kinds of retargeted ads (where a user visits a website, doesn’t make a conversion, then sees a News Feed ad from that company) are pretty successful in comparison to the FBX sidebar ads. Among 547 advertisers and more than a billion impressions, AdRoll found that FBX ads in the News Feed led to 49 times greater clickthrough rate (CTR) and a 54 percent lower cost per click (CPC) than FBX ads in the lower-profile sidebar.
While it may be too soon to see if the advertising simplification has helped Facebook’s bottom line, it will be interesting to see how the company has done financially in the fiscal second quarter. Facebook will share results from the second quarter, as well as chat with prominent investors, at 2 p.m. PT, Wednesday, July 24.
A live webcast will air on Facebook’s investor website.
During the first quarter report, Facebook announced $1.458 billion in revenue (which was an increase of $1.06 billion compared to the first quarter of 2012). Earnings per share were $0.12.
Facebook highlighted a number of advertising techniques used in the first quarter, such as greater targeting and partner categories. The company will likely discuss its expansion of Facebook Exchange (FBX), and will probably touch upon its advertising flow revamp, but the results from the new ad formats probably won’t be evident until the next quarter.
Readers: What do you think the financial forecast will look like for Facebook?
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