Driving Real ROI With Facebook

January 28th, 2013

Topics: Company News, Measurement, Optimization

The Webtrends Engage conference has just gotten started and we’ve already come away with some great ready-to-use tactics in a Social Workshop today led by Jared Roy, Senior Director of Performance Marketing.

After a few comical illustrations of life as a social marketing manager, Jared delivered the following statistic from the Association of National Advertisers: “Only 60% of national advertisers are measuring the ROI of their social media efforts”. I suspect this would make a lot of marketing managers cringe, and I personally suspect this statistic may be overinflated if you consider how many of these social measurement strategies are effectively capturing the full value of their campaigns.

We learned that there are many reasons for businesses to use Facebook besides just connecting with fans. For example:

  1. Create Awareness
  2. Increase Sales
  3. Customer Service
  4. Market Research

It is important to establish why you are using Facebook and what you want to get out of it.

Webtrends’ approach to Performance Social Marketing includes the following three steps:

  1. Build your audience
  2. Market to & Monetize your fans
  3. Measure & Optimize

Targeting accounted for much of the workshop. One of the things Jared emphasized was to go after personas. To identify the individual parts that make up your different customer segments and then target these personas separately. Think about the difference between a sport bike rider and a cruiser bike rider. You would want to approach these two audiences with very different messaging.

Another point emphasized was the importance of advertising a landing page or app within Facebook rather than driving people to a separate website. Even though it is an extra step in the conversion funnel, people prefer to stay within Facebook until they are ready to convert. The numbers showed three times greater the performance using this method.

We learned about the ever expanding assortment of ad types that Facebook provides and how to use each one most effectively. The important takeaway here is that Facebook’s algorithm may only show your posts to a small percentage of your fans. Therefore, promoting your own posts, especially ones that have initial success, is a great way to quickly ramp up the number of impressions. Jared also pointed out that Ads to Fans is still the best way to drive conversions on Facebook. Ads to Fans is an ad type that targets your Facebook fans, with the option to also target your fans’ friends.

We also got a quick peak at using Webtrends Analytics to track social campaigns, and we learned the importance of using separate campaign IDs for each ad so you can get granular reporting that can be used to optimize those campaigns.

Webtrends has a suite of tools to help manage social campaigns. Whether your objectives are fan growth, engagement or monetizing existing fans, Webtrends leverages strategy, targeted ad buys, engaging Facebook applications, and deep measurement to help you reach those goals.

Find out more about Webtrends’ solutions for Facebook Advertising here, and Facebook campaign optimization here.

And if you are at Engage, let us know what you think so far!

 

John O'Toole

About the Author

Senior Performance Marketing Consultant

John brings seven years of experience managing online advertising strategy, for enterprises across every vertical, to Webtrends clients. He uses a creative approach to develop unique ad solutions, custom tailored for specific business objectives. And he loves the challenge of integrating new ad technologies whenever possible.

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