A common refrain among small business marketers goes something like this: “We’ve paid to acquire new fans, and now we have to pay again to reach them?”
There’s been a shift recently in Facebook ad and marketing circles, prompting page admins and brands to put more investment in engagement. But has the “like” been rendered useless? According to Facebook Strategic Preferred Marketing Developer SocialCode, definitely not.
A new report by SocialCode shows that pages should keep doing campaigns to acquire new fans on Facebook, as they tend to convert more often than non-fans. Instead of just acquiring fans and hoping for profit, SocialCode Chief Innovation Officer Addie Conner told Inside Facebook that fan acquisition campaigns should be coupled with retargeting so these new fans don’t just disappear:
We were looking for new ways to scale on (direct response). Facebook started allowing new ways of retargeting against email lists through Custom Audiences. Immediately, we saw that if they use an email list on Facebook and were retargeting against those users, that works really well. We were able to get really efficient CPAs on that. If you think about fans, it’s just like another email list. You’re getting a group of users who are opting in to see your content going forward and you have an audience that is retargetable over time. If you measure the marginal benefit and it’s coming in, these people are saving you more money than they cost downstream.
Front Gate Tickets handles tickets and promotions for some of the biggest musical festivals in the country, such as Coachella and Lollapalooza, as well as events like the X Games. With help from social data firm Umbel, Front Gate Tickets was able to utilize Facebook advertising to reach music fans and other event goers, earning a 10X return on investment.
Front Gate Tickets incorporated Facebook login into their purchasing process, allowing buyers to see if their friends are going to the same event. This also gave Front Gate Tickets the chance to pitch events to people via Facebook ads.
Uri Bogler, Front Gate Tickets’ Vice President of Marketing, talked with Inside Facebook about the major problem that was facing his company and how partnering with Umbel to use targeted Facebook ads helped:
(Umbel) creates this digital genome to try to do precise, data-driven lookalike campaigns on Facebook to reach fans who may not know about an upcoming show. Really that’s the problem we’re trying to solve. One of the biggest reasons people don’t attend concerts or festivals is because they didn’t hear about it or didn’t know about it in the first place. Facebook advertising can work really well and Umbel’s reach extension campaigns have worked great.
One of the most popular ad tools on Facebook right know is Custom Audiences. An online retailer recently tapped Facebook Preferred Marketing Developer SocialWire to reach current customers with targeted ads via Custom Audiences, experiencing an average last-click return on investment of $32 for each $1 spent.
The campaign opened up the client’s inventory of 50,000 products, pushing advertisements for 600 of them. SocialWire found that 89 of these products had an ROI greater than 35:1, with some hitting as high as 45:1.
How did they do it?
Only 20 percent of people open your emails, and 5 percent click. That’s 95 percent of your email subscribers who are not going to your landing page that you spent so much time optimizing!
So what are you going to do? Just let those subscribers (read: sales leads) go to waste? Well, read on. In this article I’ll show you how (and why) to reach and convert that 95 percent using Custom Audience-targeted Facebook ads.
I know that you may still have reservations. A lot of marketers think that spending their ad budget targeting people they have already acquired as subscribers is just throwing their money away. You may have already spent money on ads to acquire them in the first place. So why should you do it again?
As many people say Facebook is dying for young adults and teens, the site is apparently testing a new way for advertisers to target college students. As found by Andrea Warner of Marketer’s Braintrust, Facebook is giving some Power Editor users the ability to target based on college undergrad graduation year.
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 announced Wednesday that Custom Audiences, the ad product that allows marketers to import their own contact lists for targeting, will be available to all advertisers worldwide by the end of November.