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Marin Software Keynote - DDM Alliance Summit Marketing on Facebook
 

Marin Software Keynote - DDM Alliance Summit Marketing on Facebook

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The Global Facebook Advertising Opportunity

The Global Facebook Advertising Opportunity

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  • Search and Search and social have become two of the go to channels in just about any marketer’s toolset. I think overall as an industry we’ve gotten very good at Search, and we’re starting to become increasingly more sophisticated with Social. But not a lot has been said about how the two channels can work together to achieve incremental ROI for your business, and how you can implement a management plan across your organization to really have the two working for each other instead of in silos. <br />
  • Buyer Journey fragmentation <br /> So how can we explain some of these numbers, and the differences in how the two channels behavior? <br /> Well its easy when you take a step back and consider how a buyer makes a purchase decision today. <br /> As buyers, when we set out to make a purchase, we often use 2, 3 maybe even 10 different sources of information over the course of 20-30 days that span across different channels. <br /> In fact occurring to Google, more than 65% of revenue comes from purchases that involve multiple touchpoints and 47% of revenue comes from purchases that span across several days. <br /> Still, according to eMarketer through all of these different touchpoints along what has become a highly fragmented buyer journey, Search and Social remain the top two most important channels for influencing buying decisions. <br /> <br /> <br /> http://www.exacttarget.com/blog/20-stats-about-how-social-media-influences-purchasing-decisions/ <br /> <br /> http://www.marketingcharts.com/wp/direct/global-marketers-still-rate-seo-email-marketing-as-tops-for-roi-28385/attachment/econsultancyadestra-channel-roi-ratings-apr2013/ <br /> <br /> http://totalaccess.emarketer.com/Chart.aspx?R=130718&dsNav=Ntk:P_Title|research+and+sources|1|,Ro:5,N:405&Adv=1&SearchTitle=1&All=research+sources <br /> <br /> Its no wonder why, according to emarketer Google and FB are considered the #1 and #2 channels by digital marketers. http://totalaccess.emarketer.com/Chart.aspx?R=145069&dsNav=Ntk:basic|roi|1|,Ro:15,N:500-781&kwredirect=n%2cn%2cn%2cn%2cn%2cn <br /> <br /> 65% of revenue comes from purchase made in more than one step * <br /> Purchases involving 6+ steps have a 30% higher AoV than purchases with one step * <br /> <br />
  • Search and Social have become our go to channels <br /> First lets take a moment to reflect on why these two channels have become so important to us <br /> By a show of hands, how many people are managing at least one of these channels today? Keep your hands raised if you’re managing both <br /> Well there is a reason why so many of you raised your hands, and why Search and Social have really become our “go to channels” as digital marketers over the past several years. <br /> Fastest growing channels in the digital marketing space with Social at 25% YoY and Search at 16% YoY <br /> Size of the audience – Literally access to billions of potential customers across the globe <br /> Engagement of the audience – Almost 6 billion searches happen in Google every day and 1 billion people use FB once / day. And check newsfeed an average of 14x / day. Also highest CTRs <br /> Measurable – very easy to understand and track the performance of your investments. <br /> When you consider these things, its easy to see why digital marketers consider Google and Facebook the #1 and #2 most important channels for driving ROI and why almost 50% of marketers plan to increase their budgets for these channels this year. <br />
  • Google Picture <br /> Still despite tall their similarities and parallels, ample evidence supports that Search and Social behave quite differently when we consider how they are used as channels the customer’s buying journey <br /> Google has a great fee resource which I’ve provided a link to below that shows that Social is far more likely to assist other than channels in the conversion path rather than to be the last channel in the path to conversion. <br /> In fact, for every Social click occurs that directly contributes to a conversion, there are two more clicks that occur that contribute to another channel. <br /> So if you’re managing Social media through a vacuum in isolation, you’re likely undervaluing it as a channel and overvaluing other channels. Furthermore, if you look at the performance of these two channels in isolation, you’re really not seeing the big picture of your performance. <br />
  • Buyer Journey fragmentation <br /> So how can we explain some of these numbers, and the differences in how the two channels behavior? <br /> Well its easy when you take a step back and consider how a buyer makes a purchase decision today. <br /> As buyers, when we set out to make a purchase, we often use 2, 3 maybe even 10 different sources of information over the course of 20-30 days that span across different channels. <br /> In fact occurring to Google, more than 65% of revenue comes from purchases that involve multiple touchpoints and 47% of revenue comes from purchases that span across several days. <br /> Still, according to eMarketer through all of these different touchpoints along what has become a highly fragmented buyer journey, Search and Social remain the top two most important channels for influencing buying decisions. <br /> <br /> <br /> http://www.exacttarget.com/blog/20-stats-about-how-social-media-influences-purchasing-decisions/ <br /> <br /> http://www.marketingcharts.com/wp/direct/global-marketers-still-rate-seo-email-marketing-as-tops-for-roi-28385/attachment/econsultancyadestra-channel-roi-ratings-apr2013/ <br /> <br /> http://totalaccess.emarketer.com/Chart.aspx?R=130718&dsNav=Ntk:P_Title|research+and+sources|1|,Ro:5,N:405&Adv=1&SearchTitle=1&All=research+sources <br /> <br /> Its no wonder why, according to emarketer Google and FB are considered the #1 and #2 channels by digital marketers. http://totalaccess.emarketer.com/Chart.aspx?R=145069&dsNav=Ntk:basic|roi|1|,Ro:15,N:500-781&kwredirect=n%2cn%2cn%2cn%2cn%2cn <br /> <br /> 65% of revenue comes from purchase made in more than one step * <br /> Purchases involving 6+ steps have a 30% higher AoV than purchases with one step * <br /> <br />
  • So if we really believe in Search and Social as high performing channels, and we know that customers are using both these channels together along a highly fragmented multi step path to conversion – Then the question we are marketers need to begin to start to ask ourselves is not now can we get these channels to perform better, but how can we use the channels together to achieve an overall better performance? <br />
  • We have already seen numerous 3rd party studies that demonstrate the synergies between the two channels when they are run in an integrated manner, particularly how Social advertising is helping to drive incremental lift for Paid Search. <br /> Marketers are more likely to receive brand searches, a better CTR and a better overall performance when they’re running social advertising. <br /> So we really start to see here the ways here your social advertising efforts in particular is assist Search, and help its performance in addition to driving stellar performance on its own.
  • And not only do we see evidence that the channels can assist each other in driving incremental lift in interest and engagement with your brand, but when we look at this from a customer perspective, we find that those who engage with a brand both through Social and Search are more valuable to you than if they had just engaged with you through one single channel. <br /> Marin recently conducted a study across more than 200 of our Search and Social advertisers and found that audiences who touch both a brand’s Search and Social ads have + 89% higher conversion rate, 367% higher revenue / click than if they had only touched the brand’s Search ad <br /> 103% higher conversion rate, 313% higher revenue / click than if they had only touched a brand’s Social ad <br /> So in other words, when a customer touches both your Search and Social ads, they are 1.) more likely to buy, and when they do buy they buy more <br /> And why might this be – Think about your own experience during a purchase decision. Aren’t you more likely to buy and more confident in your buying decision when you’ve gathered information from multiple sources? – Both from recommendations from those you trust and also from your own research? <br /> So if we know that Social and Search help each other to drive incremental performance, and we know that a customer who touches both channels is incrementally more valuable, the question becomes, how can we are marketers target these customers across both channels and measure the performance of these channels in an integrated way? <br />
  • So how do you get started with an integrated Search and Social strategy? In the next several slides we’ll give some tips for how to better measure, manage and optimize your media buys across both channels in a holistic way so you can achieve incremental lift <br />
  • Goals – is your search team optimizing for ROI, but your Facebook team for engagement? <br /> Message – Is your social team advertising a high quality message but your search team advertising a low cost message? <br /> Revenue attribution – Thinking back to the assist example, are you actually undervaluing your social buys because you don’t have consistent revenue attribution across channels? <br /> Budget allocation – Are you over budgeting on one channel that is truly underperforming based on your revenue allocation? <br /> Promotions – Are you coordinating and timing your promotions across the two channels in a succinct way <br /> Business intelligence – Are you able to see your performance side by side so you can make sound judgment calls?
  • Workflow <br /> One of the important first steps in improving your Search and Social integration is determining if there are overlapping processes in your workflow that can be streamlined by managing both channels in one interface. Certainly, there are distinctions for both channels, but when you break down your daily workflows for each channel, you may actually find that there are many many similarities. <br /> Often what customers find is that they are duplicating many time intensive campaign tasks that can be automated across both channels. <br /> For example, creating new promotional campaigns at the same time, then timing them to launch at the same time. We have a great feature called Scheduled actions that does this across channels. <br /> Do you have custom tracking parameters that you use across all your channels, well instead of building out URLs for each channel in excel, you can automate URL building across both channels with Marin’s URL builder. <br /> Are you spending more than 30 seconds on your daily, weekly, or monthly reports across both channels? If so, you might want to consider automating your reporting with Marin’s web query report, which can create dashboards for you across any channel. <br /> And then finally, why spend time bidding manually across both channels when you can automate bidding across both channels towards a common business objective that you’re trying to hit for your program. <br /> These are just some of the many many ways you can really help create efficiencies on your marketing teams by managing both channels in the same UI. <br />
  • The next thing you need to do – and this could be arguably the most important thing – is to make sure your strategy is aligned not around the channel, but around the customer. <br /> I think many times we get wrapped into a tunnel vision of what we need to within the context of a specific channel. The keywords, the quality score, the creative, the targeting settings. But at the end of the day, all of these things are secondary to what we really want to be focusing on – Targeting the right customer with the right intentions with the right message. <br /> And to do this, we really have to put the customer first and then as a second step, think about how we can use the targeting strengths of each channel to reach the customer in an integrated way. <br /> Lets go through an example. Social – One of the wonderful things about this channel is the almost infinite ways for you to reach a very specific target audience. If you know that females between 25-35 who have purchased from you in the past have the greatest lifetime value, most social platforms have very accurate ways to reach these types of people on a global scale. The downside with Social is that while you can push your messages to just about any type of potential customer you want, you have no way of knowing what their buying intention is at the time of the impression. For example, I showed you a Facebook ad promoting a new type of car based on your demographics or even your website history, I really have no way of knowing how ready you are to buying the car. In other words I have no way of knowing your buying intentions. <br /> This is where Search comes into play. Why do we love Search? Because its an opportunity for customers to pull in our advertising message based on their buying intentions at the moment in time. There is an awful lot we can tell about the customer in Search by their search query. Where are they in the buying cycle, and what are they looking for? This unique way to reach customers has helped the Search industry grow to $47B. But as valuable as Search is, it still lacks the ability to target customers by who they are, which is where Social comes into play. <br /> So from a targeting, and workflow perspective is how we can reach the type of customer we want to reach not only by who they are, but by what they want. We fail to do this when we manage Social or Search in isolation, but we’re able to accomplish this when we manage in an integrated manner. <br />
  • One example of this is that today, you can actually retarget users on Facebook based on their Search query history by using advanced digital advertising management tools like Marin Software, which allow you to share Search history with Facebook. <br /> You can then create a Custom Audience in Facebook based on the user’s Search history and retarget them on Facebook with a highly tailored message. <br /> This approach is being used today. I’m actually considering switching from Comcast to ATT for internet. I did a Search on ATT bundles on Google. Two days later, I get a Facebook ad trying to draw me back into the conversion funnel for the ATT Bundle. <br /> You can also do the inverse approach by targeting users in Google through RLSA based on audience information and behaviors you’ve picked up in Social. Simply create a Remarketing list in Google that is based off of visits to your website from Facebook, and customize the lists by audience segment.
  • One great example of how Search and Social can be used together to improve your audience targeting is from Webtrends one of our long time customers using us for both channels. <br /> They implemented a very interesting strategy designed to improve the efficacy of their targeting across both channels, and therefore reduce their costs per conversion. <br /> They actually used Search and Social together almost in reverse of what they would expect. They used Search as a lead capture channel to feed the funnel, and then used Facebook to retargeted these leads on Facebook to drive acquisition. They were able to use Facebook’s Custom Audiences capability to segment audiences by their location, type of keyword used (for example, a competitive term, branded term, etc) and then serve them a highly tailored message on FB. <br /> The results were quite impressive. They increased sales for the company by 10% at a cost per sale that was 85% lower than Search alone. <br />
  • The key is make sure you’re looking at performance, not in isolation, but side by side so you can understand the true value of the channel. <br /> Probably the most important recommendation here is to make sure you’re Social and Search revenue is being measured through the same source or using the same pixel. This allows you to properly attribute revenue across all the impressions and clicks that occur across multiple channels. <br /> According to the Marin Search + Social analysis I referenced earlier, we found that a whopping 48% of Search conversions are initiated with a Facebook click. <br /> This means fundamentally that if you’re looking at you’re Facebook performance in isolation, you’re not seeing the true performance of the channel. <br /> Take a look at how each channel is performing and make sure your budgets are aligned well with the ROI of each channel. Are you overbudgeting in Search, when Social is performing better? <br /> Take a look at the paths to conversion that generate the most ROI for you. Do customers typically start with Social and end with a Search click? If Social is the channel that drives interest, think about how this affects your creative and your messaging <br />
  • A great example of how unifying channels can help improve decision making is from Stylistpick, a London-based retailer of women’s clothing. <br /> Before coming to Marin, Stylistpick was managing Search and Social separately using two different tracking systems. Beyond creating a management silo where the campaign managers were focused very tactically on their specific channels, it made cross-channel decisions at the CMO level very difficult. By using separate reporting, they had no real way to tell if they were over or under-budgeting for each channel. They wanted to see if there was a better way to operate. <br /> Turns out that there was a better way. They integrated their channels in Marin, and used our attribution modeling to understand cross-channel path to conversion for their customers. They found that Facebook advertising actually had a significant impact on downstream Search conversions and that they were undervaluing Facebook channel by 12%. <br /> Since then, they’ve been able to make much better cross-channel decisions that’s positively impacted their overall performance. <br />
  • When you look at performance of the channels, make sure you’re focusing on the lifetime value of the audience you’re targeting. A Facebook campaign may generate plenty of leads, and a Search campaign plenty of conversions. But are do these leads ultimately purchase your product? Make sure that you’re optimizing your bids accordingly based on the potential LTV that each channel’s campaign can generate. <br /> To help with your decision making, use click-weighted attribution to properly attribute revenue across the Search and social clicks that may not have directly driven revenue. But assisted the channel that drove the revenue. <br /> Adopt or build forecasting tools that can help you measure the ROI and LTV of each channel based on how you allocate your budgets. <br /> Once you’ve found high performing audiences, make sure you’re actively going out and finding more of them. You can do this easily through Facebook’s Look-alike tool or use a DMP. <br />
  • Is it worth it? <br /> So you may be saying, well managing the two channels together makes sense theoretically, but will it actually improve my performance? <br /> In our study we found that there was a massive difference in Search campaign performance for advertisers who manage their campaigns alongside Search. <br /> Search campaigns that are managed with Social have a 36% higher Rev / click and a 68% higher Rev / conversion than Search campaigns managed independently. <br />
  • Add a twiiter prong

Marin Software Keynote - DDM Alliance Summit Marketing on Facebook Marin Software Keynote - DDM Alliance Summit Marketing on Facebook Presentation Transcript

  • Integrated Search and Social Advertising Jon Myers VP & Managing Director - EMEA @JonDMyers
  • Marin Software is the Leader in Digital Advertising Technology 2 Over €1bn of annual European spend managed through our platform Europe’s leading brands trust us to manage their spend Over 130 employees across 5 locations in Europe 5 European awards in 4 years
  • Great Partnerships in History part·ner·ship (pärt′nər-shĭp′)n. A relationship between individuals or groups that is characterised by mutual cooperation and responsibility, as for the achievement of a specified goal
  • 4 Search and Social Have Become Our Go-To Channels Rapid and Continuous Growth 50% of Total Media Budgets 50% of Marketers Will Increase 6 Billion Google Searches / Day 1 Billion Daily Facebook Users Google / Facebook = #1 / #2 for ROI 75% See as Critical for Cross-Channel Sources: RBC Capital Markets and Advertising Age, “Facebook, Inc.” September 12, 2013, and http://news.magnaglobal.com/ipgmediabrands/press-releases/magna-global-advertising-forecast-2014-ipg-mediabrands.htm Consumer Usage is Omnipresent Marketers Are Embracing
  • Looking at Search and Social Separately Doesn’t Tell the Full Story  Social is more likely to “assist” sales made in other channels  For every Social click resulting in a purchase, there are two clicks assisting another converting channel Source: Google http://www.thinkwithgoogle.com/tools/customer-journey-to-online-purchase.html
  • The Buyer’s Journey is Highly Fragmented  47% of revenue comes from purchases made in more than one day (Google)  65% of revenue comes from purchases made in more than one step (Google)  Search engines and social networks are the top two sources used to research and inspire purchase decisions (eMarketer) Sources: Brand Perfect, “Adventures in Retail”, November 9 2012 and http://www.thinkwithgoogle.com/tools/customer-journey-to-online-purchase.html
  • How Can Search and Social be Used Together to Drive a Better Overall ROI?
  • 8 Social Advertising Drives Better Search Performance 44% of Marketers Have Seen Search Performance Improve Following launch of a Social campaign Brands Experience a 50% Increase in Search CTR When their target audience is also exposed to Social ad Brands Experience a 11% Lift in Brand Searches If they’re also running FB ads Consumers Are 2.8x More Likely to Search for Your Brand If they’ve been exposed your Social ad
  • Customers Who Touch Both Channels Are More Valuable Search Touches + Social Touches = Better Performance • 2X higher conversion rate, 2X higher revenue / click than Search only • 4.5X higher conversion rate, 4X higher revenue / click than Social only Focus on Acquiring Customers Across Channels • Focusing on a single channel ignores the customers’ path to conversion • Focusing on a single channel limits the potential results you can achieve Google / Bing Click + Facebook Click Facebook Click Only Google /Bing Click Only 3.56% CR $3.16 RPC 1.88% CR $1.56 RPC .76% CR $.77 RPC Source: Marin Software’s Combining the Power of Search and Social for Exponential ROI report
  • Quick Tips for Integrating Your Search and Social Strategies Breaking Down Management Silos to Focus on the Customer Combine Workflows Focus on the Customer, Not the Channel Integrate Targeting Measure Across Channels Optimise Towards Audience LTV
  • Self Assessment - Is Your Organisation Cross Channel Focused?  Are your teams working towards the same business objectives?  Is your message / creative consistent across channels?  Are you properly attributing revenue to each channel?  Are you budgeting appropriately?  Are your promotions aligned across each channel?  Is your business intelligence strategy integrated? Joint Marketing Objective: 200% ROI Integrated Optimisation Strategy
  •  Create and launch new promotional campaigns at the same time  Automate URL building across both channels  Integrate your daily, weekly, monthly reports across Search and Social  Manage bids across both channels towards a common business objective Combining Search and Social Workflows Creates Efficiencies
  • Female, age 25-35 who has purchased shoes in the past Focus on the Customer, Not the Channel Target Customer Customer Intention Use the Strengths of Each Channel to Reach the Right Customer at the Right Time ?? “buy black running shoes” Social Advertising • Audience targeting capabilities • Reach a specific audience based on demo, behavior, or customer characteristics • Use to Push advertising message to customers Search Advertising • Intention targeting capabilities • Reach customers based on their buying intentions at a specific moment in time • Use to Pull customers into your advertising message Female, age 25-35 who has purchased shoes in the past
  •  Search-> Social: Build Custom Audiences based off Search visits to your website o “Retarget” the same users on FB with nurturing campaigns to bring them back  Social -> Search: Build Google Remarketing lists based off Social visits o Use RLSAs to boost Search bids based on visits from high LTV FB audiences Integrate Your Search and Social Targeting Strategies Retargeted on Facebook Real-life example, following a “buy at&t bundle” Google Search
  • Webtrends Increase Sales for Insurance Provider by 10% Challenges  Targeting specific audiences across Search and Social  Limited ability to segment audiences using only Search Solution  Used Marin to drive leads through Google and Bing  Segmented audiences by location, keyword, recency, prospect vs. existing customer  Retargeted leads and customers via FB Custom Audiences Results  85% lower cost/acquisition than SEM alone  45% lower cost/acquisition than brand SEM campaigns  70% lower cost/acquisition from retargeting 15 “Marin makes it incredibly easy to advertise across Google, Bing and Facebook all in one interface. In particular, their platform has dramatically changed the way we advertise on Facebook and has made it one of our most effective performance marketing channels.” - Chase Wells Director of Performance Marketing at Webtrends Case Study: Automotive
  •  Evaluate campaign performance and budget allocation across channels  Ensure your Search and Social campaigns are using the same data source  Evaluate the ROI of each channel as well as combinations of channels  Evaluate the Search and Social paths to conversion that result in the highest ROI Measure Performance Across Channels Are you budgeting your Search and Social campaigns based on overall ROI? Did you know that 48% of Search conversions start with Facebook? * Source: Marin Software’s Combining the Power of Search and Social for Exponential ROI report
  • Stylistpick Discovered Facebook Was Being Undervalued by 12% Challenges  Lack of visibility across channels led to misguided optimisation decisions Solution  Manage campaigns across search, social and display in one interface  Predictive bidding algorithm drove maximum volume, exceeding ROI targets  Creative rotation reduced impact of ad blindness on CTRs Results  Discovered Facebook performance was being undervalued by 12%  Saved significant time from managing search and social programs together  Increased Facebook CTR by 50% within the first month 17 “The fact you can manage Facebook alongside other channels such as search and display means you can gain an understanding of how Facebook Ads are working as part of your online media mix and not in a silo.” - Cormac Doyle, Senior Online Marketing Manager, Stylistpick Case Study: Retail
  • Integrated Search and Social Optimisation Optimise Search and Social Bids Based on Lifetime Value Use Click-Weighted Attribution to Assign LTV Assisting Clicks Forecast Budget and Profit at Different ROI Targets Create Look-Alike Audiences Based on LTV of Converting Audiences
  •  Search Revenue per Click is Higher When Managed with Social o + 36% higher than Search campaigns managed independently  Search Revenue per Conversion is Higher When Managed with Social o + 68% higher than Search campaigns managed independently Is Search and Social Campaign Integration Worth It? Source: Marin Software’s Combining the Power of Search and Social for Exponential ROI report
  • Summary: Putting it All Together  Customers are using Search and Social together – so should you!  Integrate and align your advertising programs around the customer, not the channel  Target, report and optimise your Search and Social programs together, not separately
  • Thanks! Jon Myers VP & Managing Director - EMEA @JonDMyers Questions?