Webtrends Engage was held last week in San Francisco featuring many sessions, workshops and lots of industry information shared with participants and partners. Our Jared Roy, Senior Director of Performance Marketing, conducted a successful workshop on Social Media ROI on Facebook, which was summarized in an earlier blog post.
This workshop revolved around strategizing, creating and managing a successful Facebook campaign with supporting data from two case studies: Motorcycle Super Stores and the Webtrends Engage 2013 Facebook Campaign. The following best practices are excerpted from the workshop:
1-Develop personas prior to doing any advertising. The best personas are not just based on geographic or demographic targets; they are defined as logical personas by interests and refined by demographic and geographic data.
2- Use many highly targeted ads, not one big reach ad. Big reach ads are generally due to the lack of well-defined personas. Big reach ads result in higher Cost Per Clicks (CPC) and lower Click Through Rates (CTR) costing more money with lower ROI conversions rates.
3- Refresh creative because ad CTR peaks within 72 hours.
4- Target ads to fans for conversions because fans click on ads 7X more than non-fans do.
- Average CTR for non-fans : .05%
- Average CTR for fans: .35%
5- Link ads to Facebook apps instead of external websites because ads that do so get over 2X the conversion rate at a CPC of 29% less. Facebook apps act as the landing page that ads can drive traffic to.
6- Measure & optimize through analytics. Only 60% of advertisers are measuring their ROI with social media efforts.