Showing posts with label ROI. Show all posts
Showing posts with label ROI. Show all posts

Thursday, 28 April 2016

The Great Debate: Does Social Media Engagement Matter?

Engagement has been a major piece of social marketing ever since we were tallying Likes, comments, and shares manually. It’s a staple because it’s a constant. It’s been what we could measure since social was new, so it became the baseline for our entire measurement practice.
But CMOs and business leaders don’t care about engagement. They care about overall results. Are we limiting ourselves as marketers by focusing so intently on it?
When I was a kid, I was an outfielder on our little league team. One weekend when our catcher was on vacation, our coach told me to gear up because I’d be playing catcher that day.
“But coach,” I protested. “I’m an outfielder!”
“No, you’re not,” he said. “You’re a baseball player.”
Turns out, I was way better as a catcher than I was as an outfielder, which I’d have never known if I hadn’t been forced out of my comfort zone. In the end, baseball wasn’t really my game at all so I became a sports writer instead, but the metaphor still works so stop judging me.

Breaking Out of the Comfort Zone

Social marketing is around the same age I was when I had that conversation with my coach.
We’ve gotten complacent with the role social plays, but only because we haven’t tried anything else, and today, I’d like to challenge you to think bigger. What other positions can social play?
Ballfield
Marketing is only successful when each channel fills a specific role, but when all channels share a common goal.
In baseball, the team in the field has a finite number of players, and a shared goal of getting three outs before the other team can score. There are dozens and dozens of ways to stop them from scoring, but only one end goal: a goose egg on the scoreboard. You do this by placing the players in strategic places that maximize your ability to reach that goal.
As a social marketer, do you know what your team’s end-goal is? Because this is where you need to start. Once you have that locked in, you can zero in on the ways to get there.

What Position Does Social Play on Your Team?

First of all, I apologize for the continued baseball metaphor…I’m really sticking with this one.
It’s important to identify where social can make the biggest impact for your team. How does your social media program support broader marketing goals, and how does it move potential customers from one stage of the buyer’s journey to the next?
Social Metrics Map
The above map is something you’ll see constantly if you read the Simply Measured blog, and that’s because it’s central to our philosophy both as marketers, and also as an analytics software company.
Social media can drive engagement, but it can also drive awareness, sales, retention, and advocacy. It all depends on your industry, social strategy, and end goals.
By mapping your goals back to your KPIs, you may realize that engagement isn’t a proxy for success, and you may decide it is. Either way, you need to know what you’re trying to accomplish before you can measure your progress.

The Case for Engagement

While the debate rages on over engagement, one thing is for sure; no other marketing channel has a metric like engagement. This is one of social media’s great powers.
Engagement gives us a stronger link to which content works, which resonates with our potential customers, and which doesn’t. While engagement may not correlate to conversions and direct ROI, it can provide support along the way.

When Is Engagement Valuable?

As you saw in the social metrics map above, engagement is valuable as a KPI in a couple of ways. Let’s stay within the context of the buyer’s journey:
  1. In the awareness phase, where impressions and reach are critical to spreading your message to potential buyers, engagement works as a secondary KPI, enabling greater reach.
  2. In the consideration phase, engagement is incredibly valuable. This is why so many brands use social for this purpose. When you want your audience to start thinking about your product as an option, social is a great way to get your message in front of them in an organic way. Engagement is the best KPI here because it lets you know that tactic is working, and you’re convincing people to take an action (even if it’s passive, like a “Like”) with your branded content.
  3. In the adoption phase, where the focus is on keeping customers, and keeping them happy. Social media can be a great tool to do this, by interacting in a more casual setting than the aisles of your store, chat window of your ecommerce site, or via email. Engagement with customers allows you to understand how happy they are, or how likely they are to churn and never buy from you again.
  4. In the advocacy phase, earned engagement can be a KPI you focus on. By identifying the earned mentions your brand is generating, you can measure and improve brand perception and affinity.
So, while engagement can’t be your sole metric, it can be valuable in many ways.
To go back to the baseball metaphor, if the goal is to stop a run from scoring, not every player will get the third out. Some may stop a base runner from stealing second, or hold the runner at third on a pop fly.
Social media is complex, and our activities as marketers can holistically support any stage of the buyer’s journey, as long as we have them playing the right position.

Wednesday, 9 December 2015

The Definitive Facebook Advertising Checklist for Beginners

When starting out with Facebook ads, it's not always clear what steps you need to take in order to begin running relevant and impactful campaigns for your business. After all, there are many factors, tools and tactics to remember, not to mention numerous ad types to choose from and best practices to consider. With Facebook marketing beginners in mind, we've created the following checklist to help you go from a novice to social advertising master.
Ad Creation
  • Determine which type of ad unit is right for your goals
  • Decide what you want people to do after they view your ads and choose a corresponding call-to-action (CTA) button, such as Download Now, Buy Now, Learn More, etc.
  • Install a pixel on your site which will tell you if users completed the desired action after clicking on your ad
  • If you're an ecommerce or gaming company, learn how ad types like Dynamic Product Ads (pictured below) or Mobile App Install Ads (MAIs) are specifically designed to help you achieve your goals
  • Ad Creative
    • Learn about creative best practices and apply them to your ad imagery and copy
    • Ensure creative components align with either a user acquisition goal or retargeting to someone who is already familiar with your brand
    Mobile
    • Set up cross-device tracking so you can understand customer behavior across mobile and desktop
    • Consider placing your ads within mobile aps using the Facebook Audience Network or MoPub​
    • Experiment with more interactive ad types like video
    • Optimize your ads and your website to be mobile-friendly so users can easily view them on smartphones and tablets (see example below)
    Targeting
    • Combat cart abandonment by setting up Website Custom Audiences
    • Leverage tiered Lookalike Audiences so you can target ads towards people who look like your best customers and gain additional reach
    • Determine which bid type is best suiting for your needs 
    • Explore and implement Facebook’s Partner Categories to expand your ads’ reach and get in front of new users
    Ongoing

    • Set up a pacing strategy so you don’t spend your budget too quickly or underdeliver on volume goals
    • Explore similar platforms that you can easily expand your advertising to (for example, Instagram is a easy next step after you've gotten comfortable with Facebook advertising)
    • Swap out old creative for refreshed imagery so users don't develop ad fatigue from repeatedly being served the same ads (see example below)
    - See more at: 
  • Decide what you want people to do after they view your ads and choose a corresponding call-to-action (CTA) button, such as Download Now, Buy Now, Learn More, etc.
  • Install a pixel on your site which will tell you if users completed the desired action after clicking on your ad
  • If you're an ecommerce or gaming company, learn how ad types like Dynamic Product Ads (pictured below) or Mobile App Install Ads (MAIs) are specifically designed to help you achieve your goals
  • Ad Creative
    • Learn about creative best practices and apply them to your ad imagery and copy
    • Ensure creative components align with either a user acquisition goal or retargeting to someone who is already familiar with your brand
    Mobile
    • Set up cross-device tracking so you can understand customer behavior across mobile and desktop
    • Consider placing your ads within mobile aps using the Facebook Audience Network or MoPub​
    • Experiment with more interactive ad types like video
    • Optimize your ads and your website to be mobile-friendly so users can easily view them on smartphones and tablets (see example below)
    Targeting
    • Combat cart abandonment by setting up Website Custom Audiences
    • Leverage tiered Lookalike Audiences so you can target ads towards people who look like your best customers and gain additional reach
    • Determine which bid type is best suiting for your needs 
    • Explore and implement Facebook’s Partner Categories to expand your ads’ reach and get in front of new users
    Ongoing

    • Set up a pacing strategy so you don’t spend your budget too quickly or underdeliver on volume goals
    • Explore similar platforms that you can easily expand your advertising to (for example, Instagram is a easy next step after you've gotten comfortable with Facebook advertising)
    • Swap out old creative for refreshed imagery so users don't develop ad fatigue from repeatedly being served the same ads (see example below)
    Source

Saturday, 5 December 2015

Why You Should Jump on the Instagram Ads Bandwagon Now


design_1-16

Instagram ads are here! That’s a headline you might have heard a couple of times in the past few months. The truth of the matter is, each headline was marking some milestone in a patchwork roll-out of the Instagram ads platform to business’ Facebook accounts. It’s for real this time though, Instagram ads are now available to everybody. So you should jump on board! 

Hold on. You might be wondering if this whole Instagram thing is worth it. After all, it is, at its core, simply a different presentation of Facebook ads. Let’s dig a little deeper. 

It’s still early going, so there’s not a lot of data. But, preliminary reports are showing that Instagram ads are seeing higher engagement than standard Facebook ads. In fact, for web click conversions, Instagram ads are seeing an average 1.5% click through rate, versus a 0.84% for a comparable Facebook ad at a similar cost per click (Source: Fool). There are several reasons that this could be the case. 

1) Instagram ads are new. 

Don’t underestimate the power of novelty. The reason people are clicking these ads more could be because it’s simply interest. I’ve never seen an Instagram ad before! What happens when you click this? This is refreshingly new. (Or, you could be getting the accidental clicks of the confused). Of course, the novelty will wear off, which cuts into the value proposition of Instagram ads over other social media ads over time, but it’s also an argument that you should jump on board as soon as possible and ride the wave while you can. 

2) Instagram ads are big. 

One of the original selling points of Instagram itself was the simplicity of the platform. It’s just one big square picture after another. While other social media networks struggle with cramming as much stuff into its feed without cluttering the user interface, Instagram has remained simple and minimalist. The ads slide in seamlessly, and with the exception of chronology and a small “Sponsored” tag, they are indistinguishable from other posts. For consumers who might have a negative reaction to conspicuous advertisement, this could be more favorable.

 3) Instagram ads are higher quality. 

The reason the click through rates are so good could be because up until recently, it’s only been a select few larger brands that have been advertising on Instagram. These companies, with the resources to create sleek ad campaigns, are creating higher quality ad campaigns than the general populace, and juicing Instagram's early numbers. Unfortunately, this doesn’t help you (although I’m sure your ads are better than average). 

Maybe it’s not exactly definitive whether Instagram ads are more effective than Facebook ads based on the raw early results. You also have to factor in the fact that Instagram ads are only widely available in three of the nine objectives available through Facebook, Clicks to Website, Video Views, and Mobile App Installs (Source: Instagram) which restricts the flexibility you have to create more effectively specific ad campaigns in other objectives. 

However, there’s one big stat points to why Instagram ads have the potential to be superior to Facebook and other social media ad platforms. Instagram, compared to others, skews younger, more diverse, and richer (Source: BI and Pew). In a world where businesses are always trying to chase that particular demographic, especially when business support on social media lags behind the cutting edge of current trends, it pays to at least be as far forward as possible. 

Combine that with the knowledge that overall, Instagram is not as small as you might still perceive it, at around 200 million users it’s catching up with Twitter, and that its users are more engaged because its feed is less saturated (Source: SMT), it’s worth your time to get your business on Instagram ads as fast as possible. 

Source

Wednesday, 2 December 2015

7 Brilliant Tips on Making Effective Facebook Video Ads

Are you looking for better ways to connect with your Facebook audience? The social media king has offered businesses a new alternative in the form of Facebook video ads. Video is a very powerful tool, something we all understand after the success of various YouTube stars. However, all businesses are incorporating these video ads in their marketing campaign. How can you be different? The key to remember is that you can boost your engagement and conversions if you make small adjustments to the way you target and design your Facebook video ads. 
7 Brilliant Tips on Making Effective Facebook Video Ads
If you aren’t sure of how to go about that, here are some tips that can prove to be immensely useful:
1. Customize according to audience preferences
Instead of focusing on creating content that can work for a wide audience, you should create videos aimed at a specific segment of the audience. When videos are targeted to a certain segment, they are more likely to get clicks, shares, likes and comments that eventually lead back to your website. For instance, rather than creating a general video about your business, it is better if you make one about one of your products. The latter video will get a direct response whereas the former is usually beneficial for branding purposes. If you aren’t sure who your audience is, you can take advantage of Facebook Audience Insights to know your audience based on age, demographic, lifestyle, gender, relationship status etc.
2. Capture the audience’s interest quickly
Successful videos are those that get directly to the point. You have to get through to your audience in the first 5 seconds if you want them to watch the entire video. Make sure you use content that’s attention grabbing as this will keep them hooked till the end. How can you accomplish this? A catchy start can go a long way in luring the audience just like a mysterious one.
Nevertheless, pose the mystery in a way that it incites curiosity instead of boring the viewers. Another way to retain attention is to tell people that you can solve a problem. Facebook videos are muted and the message can only be heard when the user clicks on the audio button. This means that the video has to have a powerful supporting visual to get the users to press the button. Also, don’t get too commercial in the videos because that often puts viewers off.
3. Create advertisements that don’t seem like advertisements
Keep in mind that Facebook is a social platform, which means that people usually visit it when they want to know what their friends are up to or taking a break. Buying things is not really their aim when they log onto Facebook. Therefore, if you wish to attract the attention of users, you have to be subtle about it. This means that you need to deliver your message in an unusual way like funny content or insightful information. While this may not be easy, but this can help you in making some great videos that can keep your audience entertained and get your message across as well.
4. Don’t forget the message or runtime of the video
Even though you may prefer lengthy videos, your audience isn’t going to be pleased. If you want them to sit through the entire video, you have to keep it snappy and short. Long videos can bore your audience easily because there is just so much to do on Facebook. Experts recommend that you should make short videos that aren’t longer than 30 seconds. Only if your video provides value to the users or is entertaining, you can think about going as long as 2 minutes. Longer videos only work in special circumstances. The safest way to decide the runtime and message of the video is to think about who you are addressing, what you are offering, where the product is available and why it is important to use the product.
5. Make separate videos for different segments
Can you show the same video to a newcomer and one to your old and loyal customer? Definitely not! There are different messages you need to convey to each of these segments and you cannot simply make a standardized video to accomplish this goal. When you are targeting new or potential customers, you need videos that build brand awareness and generate interest in your products and services. However, when you are engaging with users who are already customers, you need to highlight other avenues of your products and services to ensure their loyalty. You need to offer them value if you want them to stay.
6. Run tests for optimizing the videos
It is definitely not a good practice to make a single video and then just repeat it over and over again. It is better for you to make two versions of each video and test them separately on the audience to know which one has a more powerful impact and generates a good response. You can simply change just one variable in the video or make completely different ones with the same message. Sometimes, even a single element can make a huge difference in the response you get from your audience.
7. Combine music, voiceover and visuals
When you are making videos for Facebook, you need to think about how you will deliver your message. As videos are mute and they stop when users move onto other posts, you have to prompt your customers to press the audio button by compelling them to look at the first few seconds. Once they can hear the video, you need to keep them engaged. The first frames of the video and the text should be convincing enough to open audio and the rest of the content should have appropriate music, visuals and voiceover to pull them through.
When you keep these tips in mind, you will be able to devise effective Facebook video ads. 

Wednesday, 18 November 2015

What’s the ROI of Digital Marketing? [Infographic]


digital analytics

Image courtesy of Occam’s Razor
As you see above, defining the ROI of digital marketing is a challenge.
Measuring it is easy, once you have the right definition.

What’s a Tweet worth?

People ask me all the time: What’s a social post worth?
My answer?
Likely NOTHING!
Yeah, I know. Lots of folks disagree with me, but, as noted in the infographic below, the answer is — it depends.
Does that mean digital marketing doesn’t work?
Absolutely NOT!

The value of digital marketing

First, the value of a Tweet or Like or Pin depends on the size of your network — the larger the network, the greater the value of a social post. A network of 16,000 Twitter followers requires only 6 Tweets to return a value equal to the average US car payment– $450.
But the story doesn’t end there.
Size is only one element relevant to the value of digital marketing. Engagement is a much bigger reflection of value. A highly engaged network shares much of what you post across social networks. All those Likes, RT, Re-Pins, etc add up to huge amplification of your message. Thus, a single Tweet, Post, Pin gets magnified to a much larger audience than the original network.

Owned versus earned media

In digital marketing, we refer to this as owned versus earned media. Owned media belongs to the brand and represents their Facebook pages, Twitter accounts, etc. Earned media represents the amplification you earn through motivating followers to share your posts.
Engagement comes from posting the “right” content — content your followers find valuable. Valuable content:
  • Solves a problem
  • Entertains
  • Respects your followers
In addition, the right content is posted on a consistent basis when your target audience is likely online. Earned media is likely the most valuable media and much cheaper than paid media (online advertising).

Why is earned media so valuable?


Earned media has so much value because it has the appearance of objectivity. Think about it, we’ve all become so jaded by advertising we barely listen when brands tout their benefits. But, when friends tell us something, we believe them. A Tweet from a friend we believe.

digital marketingWhen your followers share your content, they not only amplify your message, they de-commercialize it — make it more believable because it comes from friends rather than the brand. The value of earned media is so valuable, Facebook even use it to support sponsored posts by showing you which friends like the brand.

So, it’s not just the size of your network, it’s how engaged they are.

Influencers

Some brands pay influencers by offering money or free product (hence the offers made to influencers with high Klout scores). I personally think paying influencers is a bad practice as it calls their motivations for sharing content into question and, if used frequently, dilutes their value. I’d encourage brands to develop relationships with influencers rather than paying them.
But, putting the motivation issue aside, evaluating influencers needs more than just assessing the size of their network, and evaluating how well they do in terms of engagement.

Building engagement

If engagement is more valuable than the size of a social network, an important question is: How do you build engagement?

Valuable content

Again, the best trick to building engagement is producing valuable content on a consistent basis. Value comes in the eyes of your target market. Sometimes that’s creating content that solves a problem — like this. In other cases, content that’s interesting, unusual, funny, surprising, or emotionally charged drives engagement.
My advice to new clients is to try various types of content, then see what works best with your target audience by monitoring both reach and engagement for each post. Likely, some combination of entertaining and problem-solving content works best.
Be sure to avoid over promotion. A recent guest post argued for the 80/20 principle where content is concerned — 80% valuable, 20% promotional . I actually try for something closer to 10% promotional content.

2-way conversations

You need to engage with followers if you expect them to engage with you. Thank them when they share your content and when they say something nice about your brand.

User generated content

Treat your network as a valuable part of your social network and get them to generate content.
Ask their opinions about your brand, hold contests to encourage them to generate content about your brand, provide tools to create a true community around your brand.

Engage employees

Employees are likely the best advocates for your brand. Not only can they act as evangelists, they can share unique perspectives about your brand that consumers find engaging. For instance, someone working to make the product might share a typical day at work, a buyer might talk about how he/ she builds relationships with suppliers, a sales person might share about interactions with retailers.
Sharing insider knowledge makes consumers feel like they’re getting a backstage tour of your operation and makes them more engaged with your brand.






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