Kenshoo Social Webinar: Putting Social Advertising in Context
 

Kenshoo Social Webinar: Putting Social Advertising in Context

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Presentation from July 28th webinar with Forrester VP and Principal Analyst, Shar VanBoskirk and Kenshoo CMO, Aaron Goldman. Covers latest trends in social advertising and best practices for ...

Presentation from July 28th webinar with Forrester VP and Principal Analyst, Shar VanBoskirk and Kenshoo CMO, Aaron Goldman. Covers latest trends in social advertising and best practices for advertising in the context of social networks.

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  • Kenshoo is a digital marketing software company. We were founded in 2006 and funded by Sequoia Capital and Arts Alliance. And we’ve grown to more than 200 people around the globe. Currently over $15 billion in online sales revenue flows through our system on an annual basis and our Kenshoo Social product has delivered well over 30 billion impressions.
  • Here’s a quick snapshot of our product suite. We have solutions for enterprise advertisers and agencies as well as companies that manage large volumes of small businesses or locations.We have products for search and social that help you manage your campaigns better and faster and they plug in to all the channels you see at the bottom for integration, reporting, and attribution, ultimately helping you determine the full impact of your online advertising and where you next dollar is best spent.
  • Here’s a quick snapshot of some of the advertisers and agencies currently using Kenshoo Social to manage their Facebook ad campaigns.
  • As for what makes Kenshoo Social so great, it’s all about the ability to create ads at scale, manage campaigns easily and effectively with custom Facebook bid algorithms, and flexible reporting to see how your ads are contributing to your brand goals
  • Now let’s get into some trends and best practices. Here are 4 keys to success in social advertising.
  • Picking the right Key Performance Indicators.Determining the role of social in driving those KPIs.Setting your targets to reach your best prospects.Testing everything and continuing to iterate. Remember, social is still super new and you have to figure out what will work best for your company.Now let’s dig into KPIs.
  • Here are all the KPIs you could consider. Let’s start with traditional KPIs that we focus on in search and other DR channels. Now let’s look at the new KPIs that are part of the social ecosystem. Only you can decide which ones matter most for your business. The key though is to make sure you know what you’re tracking and why.
  • So how do you determine what are the right KPIs. Well, we all know there’s a ton of ad inventory available on Facebook. The question is, what do you want to do with it?
  • Are you trying to generate demand and immediate results? If so, you’ll want to consider driving traffic off Facebook to your brand domain.Or are you trying to drive better engagement with your brand? In this case, you’ll want to leverage social assets within the Facebook walls.
  • Here you can see the campaigns we ran to promote this webinar with some ads driving to a registration page on Kenshoo.com and others driving RSVPs thru the Facebook event we set up. In case you’re wondering, 60 out of 400 of you RSVP’d thru FB.
  • When setting your goals and KPIs, you have to remember what Facebook is all about. People on Facebook are busy connecting, not clicking. As you can see Facebook click-rates are, on average, about half that of standard display ads.And therein lies the conundrum. If you want to drive direct response off Facebook, you’ll have a relatively limited pool of r
  • Now before we just go an dismiss the click altogether, let’s remember 2 things.One, clicks can also drive activity to Facebook objects, like pages and events. So they’re critical in that sense. And clicks are also critical in terms of determining what you pay for marketplace ads. As you can see here, there’s a strong correlation between click-rate and cost per click.
  • But what about all those impressions that don’t get clicked? How do you measure they’re value?
  • Well, it goes back to what John was talking about earlier. Think about Super Bowl commercials. How do you measure the value of those impressions? Now consider that with 750 million accounts, Facebook has a Super Bowl going on every hour. And it’s not one-way brand engagement, it’s true brand interaction and word of mouth as John pointed out.
  • So let’s focus on some new KPIs that can help put all those impressions in perspective, namely social impressions, reach, social reach, and engagements.
  • And let’s put these metrics in context of an actual campaign. As you can see here, we used Kenshoo Social to promote the webinar on Facebook and while our primary goal was to drive registrations, we were also able to see how many impressions we delivered with a viewer’s friend or connection already engaging with us. And as we know, our industry is a small one and too many of us spend too much time on Facebook (just for research, right guys?) but it seems like many of you have friends also in the industry and thus your identities were likely tied to ads we were showing. So thanks for that!
  • Now that you’ve figured out what you’re trying to do and how you’ll measure it, let’s talk about how you appropriately credit social advertising for it’s role in the mix.
  • Rightoff the bat, I want to tell you that yes, it can be done. On a one-to-one, dollar-in-dollar-out basis, you can get direct ROI from FB ads. Here are 2 examples of Kenshoo Social customers who achieved positive ROI as measured thru off-Facebook ecommerce sales.
  • That said, when your goal is to drive activity off Facebook to your site, it’s critical to keep in mind all the touchpoints along the way. In this example, we have someone who clicks on a Facebook ad but doesn’t buy anything, then does 3 keyword searches and clicks on corresponding ads before finally making a purchase. Now, most platforms will report and act only on that last click. In this case, search would get all the credit and bids and budgets would be optimized accordingly. In Kenshoo Social, however, we have different attribution models you can set based on your business situation.Whether it’s linear ratio or U-shaped which gives 40% to first click, 40% to last and splits up the clicks in the middle evenly, or a complete even split or first or last click, you must think thru which model is most appropriate.
  • Now, most platforms will report and act only on that last click. In this case, search would get all the credit and bids and budgets would be optimized accordingly.
  • In Kenshoo Social, however, we have different attribution models you can set based on your business situation.Whether it’s linear ratio or U-shaped which gives 40% to first click, 40% to last and splits up the clicks in the middle evenly, or a complete even split or first or last click, you must think thru which model is most appropriate.
  • And you must choose one platform as your true north. As Shar mentioned, tracking search and social in one place is so important. This will help you de-duplicate conversions and track all the clicks in the path to purchase.
  • As you can see in this example, a consumer clicked on a Facebook ad before converting on a Google ad. And then you can set the appropriate attribution model to give credit to each channel.
  • Now let’s look at the impact of various attribution models. In this case, by giving all credit to the last click, Facebook ROI stood at about 70%.
  • But as we work our way up to first-only attribution, ROI on FB would have been 85%, hence justifying more budget allocation and potentially driving more sales. So key take-aways here: 1. You can drive direct ROI from Facebook but it will never be as high as search and won’t also show positive ROI so don’t let that be your end-all-be-all 2. Make sure to give credit to Facebook’s impact on sales thru other channels and 3. Back to KPIs, consider other ways beyond direct ROI to measure efficacy of social advertising.
  • Now let’s talk about targeting within Facebook.
  • The beautiful thing about Facebook, beyond these beautiful bubbles, is that you can cut the audience very finely to reach only your best prospects. And then show ads tailored just for them.
  • One of the things that’s unique about Kenshoo Social is how you can set up your targets. Rather than set up one ad at a time by matching a creative with a target, you can choose your creatives, choose your targets, and we’ll do all the permutations and upload them to Facebook. We’ll even automatically name each ad with the creative and target so you can easily slice the data.So in this case here, we have 2 creatives and 2 targets. Kenshoo Social creates 4 ads. Or take 1 creative and 3 targets, and we’ll create 3 ads on Facebook.
  • When choosing your targets, you’ll want to pay attention to your estimated reach which we update dynamically so you can see how many people you can actually reach based on the criteria selected. For this webinar, we were focused on US and UK. To all our friends down under and across Asia, we’ll be recording this and making it available at a more convenient time.
  • Next, choose demographic variables like age, gender, relationship.
  • And then choose supplemental info such as likes and interests, workplaces, education. You can see we selected online advertising and whittled down to 380 people. Clearly not as many of us digital marketing geeks on Facebook as we thought or at least we don’t want to promote that fact on our profiles.
  • And finally you can target connections and friends of connections, incredibly valuable when trying to expand your reach but remain targeted and relevant. The last thing to point out is that you can save custom target settings in Kenshoo Social so you don’t have to start from scratch the next time you want to set up an ad.
  • OK, now let’s talk about testing.
  • Why is testing so important? Well you can see here there’s a high variable cost between different targeting criteria. In this case, you can see the variance in cost per click by age and by gender. Older people skew higher probably because there are fewer of them and they have higher buying power.
  • As for the tactics you can take with your testing, 5 areas we’ll quickly cover are Segments, Images, Messaging, Scheduling, and Bidding.
  • With segments, we just talked about all the ways you can target your ads and the key is to take segments that worked and try cutting them even further.
  • As for your ad itself, just like with search, you’ll want to test every possible combination to see what works best. Some things to experiment with include background colors, buttons, etc.
  • As for the copy you use in your messaging, some best practices include having clear calls-to-action, refreshing often, personalizing, and just keeping it short and sweet. Oh, and don’t just repurpose your search ad copy. Remember, people are in a much different mindset on Facebook than they are on Google.
  • I just mentioned refreshing your ad copy. Indeed, ads can go stale so you’ll want to test different days of week and times of day to run your ads. In Kenshoo Social, scheduling is a snap and you can view reports that show you performance by day and time.
  • When it comes to bidding, you have to take a different approach from search.1, because your goals should be different.And 2, because the variance in click-rate in social is a lot smaller. Here you can see we looked at 40 campaigns in social and about 100 in search, and the distribution of click-rate for social is all pretty tight between 0.01% and 0.09% and for search it’s scattered between 0.1% and 10%. This requires algorithms to work with a lot less standard deviation.
  • So, summing it all up. How do you get more out of your social advertising? Through Kenshoo Social of course.
  • If you’d like to learn more, please visit us at Kenshoo.com/Social or Facebook.com/Kenshoo. Thanks again to my co-presenters for their time and great insights.*Forrester and Facebook logos are trademarks of each respective company and participation in this webinar does not specifically constitute an endorsement of Kenshoo’s products or services.

Kenshoo Social Webinar: Putting Social Advertising in Context Kenshoo Social Webinar: Putting Social Advertising in Context Presentation Transcript

  • Putting social advertising in context
    July 28, 2011
  • Agenda
    2
    Search and Social: Better TogetherSharVanBoskirk, VP and Principal Analyst, Forrester
    Social Advertising DemystifiedJohn Yi, Strategic Program Manager, Facebook
    Getting More Out of Social AdvertisingAaron Goldman, CMO, Kenshoo
  • Search and social: better together
  • Theme:
    Integrating social with search is essential to building a “get found” strategy
  • Why integrate social and search?
    What are some best practices for integration?
    How do you measure the value of integrating social with search?
    Agenda
  • Why integrate social and search?
    What are some best practices for integration?
    How do you measure the value of integrating social with search?
    Agenda
  • July 11, 2000
  • July 21, 2011
  • Users' ways of finding information have changed
  • Why integrate social and search?
    Social media has always made a difference in search results
    Inbound links, user generated content boosts natural search results
    But now people rely on social media to find what they’re looking for
    Search engines are incorporating social content into search results
    Integrating your search and social strategies can improve the efficiency and results of both
  • Kenshoo Case Study – Search & Social
    Top 100 Internet Retailer running DR search and social campaigns, both with positive ROI
    20% of all conversion paths showed ad clicks from more than one channel (searchand social)
    Over 1/3 had brand queries in the path to conversion
    Consumers discover brand on FB and then search for it by name
    Logarithmic Distribution of Keywords in Multi-Channel Conversion Paths
  • Why integrate social and search?
    What are some best practices for integration?
    How do you measure the value of integrating social with search?
    Agenda
  • 1) Improve SEO visibility: Drive inbound links…
    Social media profiles further distribution ,
    encourage users to forward , generates more inbound links  improves your natural rankings.
  • 2) Mine social content for help with keyword selection
    Conversations about animal lovers and pet products could inform the paid search campaign to promote a new pet-care line
  • 3) Mine keyword searches for content to create or highlight
  • 4) Enable ratings and reviews
    Ratings help your listing stand out from others in search engine results.
  • Reviews help your brand get found, even if your site does not
    Ikea’s site doesn’t show up in the search results – but reviews of their products do.
  • And they improve position in local listings
    Reviews, user-generated pictures, other social content boost local results.
  • 5) Use paid search to extend the distribution of social content
    Sponsored results on social sites promote created social content
  • 6) Use social to support ongoing crisis management
    BP posts live video feeds to keep their message current and prominent in search results.
    This pushes negative social content down in the results
  • Why integrate social and search?
    What are some best practices for integration?
    How do you measure the value of integrating social with search?
    Agenda
  • Measure lift in results
    Volume, value and source of immediate transactions
    Increased number of orders/activities
    Increased purchase price or number of items per order
    More transactions from a target customer group
    Competitive advantage
    Increased overall reach
    Increased mindshare
    Improved representation of brand
    Customer value
    Brand engagement
    Referral value of customer
    Efficiency
    Less keyword expenses
    Less touches required for conversion
    Fewer resources required
  • To summarize
    The future of search marketing is about “getting found,” not just buying search ads
    Social media can boost search results and provide new ways to be found
    Apply some simple best practices to plan your social and search strategies together
    Measure how integrated efforts generate lift over independent ones
    A single platform that helps you manage search and social together can make integration easier
  • Shar VanBoskirk
    +1 617.613.5845
    svanboskirk@forrester.com
    www.forrester.com
    Thank you
  • 25
    Getting More out of social advertising
  • Digital Marketing Software
    10 global offices, 200+ employees
    Campaigns running in over 100 countries
    Directing$15 billion+ in annual online sales revenue
    More than 33 billion Facebook ad impressions delivered through Kenshoo Social Ad Manager
    26
    About Kenshoo
  • 27
    Our Product Suite
  • 28
    Brands Powered by Kenshoo Social
  • 29
    Why Kenshoo Social?
    Scalable Ad Creation
    Robust Campaign Management
    Custom Facebook Algorithm
    Flexible Reporting
  • 30
    Getting More Out of Social Advertising: Keys to Success
  • 31
    Getting More Out of Social Advertising: Keys to Success
  • Putting the in KPI
    32
    Uniques
    ROI
    Revenue
    Clicks
    Purchases
    Follows
    Social Impressions
    Churn
    Cost
    CPF
    Video Views
    Downloads
    Connections
    CPL
    Likes
    Conv Rate
    Mentions
    CPM
    Tweets
    Shares
    AOV
    Retweets
    CPC
    Fans
    Share of Voice
    CTR
    Impressions
    CPA
    Social Reach
    RSVPs
    Engagements
    Reach
    Leads
    Revenue/Click
  • Facebook has Plenty of Impressions
    33
    Source: Comscore May 2011
  • What Do You Want Those Impressions To Do?
    34
    Internal (FB) Traffic Driving
    Brand Engagement
    External Traffic Driving
    Demand Generation
    Traffic
    CPC
    CPA
    ROI
    Connections
    Likes
    Fans
    RSVPs
  • What Do You Want Those Impressions To Do?
    35
    Internal (FB) Traffic Driving
    Brand Engagement
    External Traffic Driving
    Demand Generation
    Traffic
    CPC
    CPA
    ROI
    Connections
    Likes
    Fans
    RSVPs
  • The Click Conundrum
    36
    People on Facebook Are Busy Connecting, Not Clicking
    0.10 %
    Average Display CTR
    0.05 %
    Average Facebook CTR
    Source: Webtrends Feb 2011, Kenshoo Social July 2011
  • The Click is Critical
    37
    High Correlation Between CTR and CPC
    High Correlation Between CTR and CPC for Retail Advertiser
    CTR %
    CPC %
    Source: Kenshoo Social May 2011
  • The Impression Issue
    38
  • 39
    Shining New Light on Social
    I liked it.
    Hmm.
  • Putting the in KPI
    40
    Uniques
    ROI
    Revenue
    Clicks
    Purchases
    Follows
    Social Impressions
    Churn
    Cost
    CPF
    Video Views
    Connections
    Downloads
    CPL
    Likes
    Conv Rate
    Mentions
    CPM
    Tweets
    Shares
    AOV
    Retweets
    CPC
    Fans
    Share of Voice
    CTR
    Impressions
    CPA
    Social Reach
    RSVPs
    Engagements
    Reach
    Leads
    Revenue/Click
  • 41
    Putting the KPIs in Kenshoo
  • 42
    Getting More Out of Social Advertising: Keys to Success
  • 43
    Getting More Out of Social Advertising: Keys to Success
  • 44
    Yes, You Can Generate Direct ROI From Facebook
    Agency: iProspect
    Advertiser: leading apparel manufacturer
    Campaign targeting college students
    Direct ROI increased by 71% to $1.73
    Advertiser: Internet Retailer
    Campaign: holiday season promotion
    Promoting free shipping
    Direct ROI $1.90
  • Set an Attribution Model to Reflect the True Value of Each Engagement
    Blue T-Shirt
    Great Prices
    T-shirt.com
    Red T-Shirt
    XL Size Available
    T-shirt.com
    Green T-Shirt
    Great Prices
    T-shirt.com
    Keyword 1
    Keyword 2
    Keyword 3
    Most advertising tracking systems report and act on only the last click prior to purchase
    45
  • Set an Attribution Model to Reflect the True Value of Each Engagement
    Blue T-Shirt
    Great Prices
    T-shirt.com
    Red T-Shirt
    XL Size Available
    T-shirt.com
    Green T-Shirt
    Great Prices
    T-shirt.com
    Keyword 1
    Keyword 2
    Keyword 3
    25%
    10%
    5%
    60%
    46
  • Set an Attribution Model to Reflect the True Value of Each Engagement
    Blue T-Shirt
    Great Prices
    T-shirt.com
    Red T-Shirt
    XL Size Available
    T-shirt.com
    Green T-Shirt
    Great Prices
    T-shirt.com
    Keyword 1
    Keyword 2
    Keyword 3
    40%
    10%
    10%
    40%
    47
  • Set an Attribution Model to Reflect the True Value of Each Engagement
    Blue T-Shirt
    Great Prices
    T-shirt.com
    Red T-Shirt
    XL Size Available
    T-shirt.com
    Green T-Shirt
    Great Prices
    T-shirt.com
    Keyword 1
    Keyword 2
    Keyword 3
    25%
    25%
    25%
    25%
    48
  • (Last Click)
    Set an Attribution Model to Reflect the True Value of Each Engagement
    Blue T-Shirt
    Great Prices
    T-shirt.com
    Red T-Shirt
    XL Size Available
    T-shirt.com
    Green T-Shirt
    Great Prices
    T-shirt.com
    Keyword 1
    Keyword 2
    Keyword 3
    0%
    0%
    0%
    100%
    49
  • 50
    Choose One Platform as Your True North
  • 51
    Choose One Platform as Your True North
  • 52
    Last Click Attribution Undervalues FB Performance
    Increase in Facebook ROI for Retail Advertiser Based on Revenue Attribution
    First Only Prefer First Distribute Evenly U-Shaped Prefer Last Last Touch
    • First Only
    • Prefer First
    • Distribute Evenly
    • U-Shaped
    • Prefer Last
    • Last Touch
    20% 40% 60% 80% 100%
  • 53
    Last Click Attribution Undervalues FB Performance
    Increase in Facebook ROI for Retail Advertiser Based on Revenue Attribution
    First Only Prefer First Distribute Evenly U-Shaped Prefer Last Last Touch
    • First Only
    • Prefer First
    • Distribute Evenly
    • U-Shaped
    • Prefer Last
    • Last Touch
    20% 40% 60% 80% 100%
  • 54
    Last Click Attribution Undervalues FB Performance
    Increase in Facebook ROI for Retail Advertiser Based on Revenue Attribution
    First Only Prefer First Distribute Evenly U-Shaped Prefer Last Last Touch
    • First Only
    • Prefer First
    • Distribute Evenly
    • U-Shaped
    • Prefer Last
    • Last Touch
    20% 40% 60% 80% 100%
  • 55
    Last Click Attribution Undervalues FB Performance
    Increase in Facebook ROI for Retail Advertiser Based on Revenue Attribution
    First Only Prefer First Distribute Evenly U-Shaped Prefer Last Last Touch
    • First Only
    • Prefer First
    • Distribute Evenly
    • U-Shaped
    • Prefer Last
    • Last Touch
    20% 40% 60% 80% 100%
  • 56
    Last Click Attribution Undervalues FB Performance
    Increase in Facebook ROI for Retail Advertiser Based on Revenue Attribution
    First Only Prefer First Distribute Evenly U-Shaped Prefer Last Last Touch
    • First Only
    • Prefer First
    • Distribute Evenly
    • U-Shaped
    • Prefer Last
    • Last Touch
    20% 40% 60% 80% 100%
  • 57
    Last Click Attribution Undervalues FB Performance
    Increase in Facebook ROI for Retail Advertiser Based on Revenue Attribution
    First Only Prefer First Distribute Evenly U-Shaped Prefer Last Last Touch
    • First Only
    • Prefer First
    • Distribute Evenly
    • U-Shaped
    • Prefer Last
    • Last Touch
    20% 40% 60% 80% 100%
  • 58
    Getting More Out of Social Advertising: Keys to Success
  • 59
    Getting More Out of Social Advertising: Keys to Success
  • 60
    Targetingis Tantamount
  • 61
    Targetingis Tantamount
  • 62
    Targetingis Tantamount
  • 63
    Targeting: The Kenshoo Social Way
    Creative
    Target
    x
    =
    x
    =
  • 64
    Slick Segmentation
    Dynamic Estimated Reach
    Full Geographic Targeting and Language Settings
  • 65
    Slick Segmentation
    Target by age, gender, relationship status
  • 66
    Slick Segmentation
    Relate to your audience through likes & interests, education & workplaces
  • 67
    Slick Segmentation
    Save Custom Target Settings
    Reach Friends of Friends
  • 68
    Getting More Out of Social Advertising: Keys to Success
  • 69
    Getting More Out of Social Advertising: Keys to Success
  • 70
    Avg. CPC
    Population Size
    Source: Facebook API June 2011
    High Variable Cost Between Targets
  • 71
    Testing Tactics
    Segments
    Images
    Messaging
    Scheduling
    Bidding
  • 72
    Refine Segments
    Segments
  • Image is Everything
    Images
    Use Buttons
    Image frames
    Celebrities
    Think outside the box!
    Background colors
    Shocking Images
    Animals
    People vs. Objects
    73
  • Messaging
    Messaging Matters
    74
  • Messaging Matters
    Messaging
    Use a Call to Action
    Refresh Copy Often
    Use Promotional Codes
    Don’t use Standard Search Copy
    Personalize Ads
    Short and Concise is Best
    75
  • Scheduling is a Snap
    Scheduling
    76
  • 77
    Better Bidding
    Bidding
    Smaller Social CTR Variance Demands Tighter Bid Algorithms
    Social
    Search
    # of Campaigns
    CTR
  • 78
    Better Bidding
    Bidding
    Smaller Social CTR Variance Demands Tighter Bid Algorithms
    Leverage bespoke Facebook bid algorithms to manage campaigns based on your goals
    Social
    • CPC
    • CPA
    • ROI
    • Follow FB Suggested Bid
    Search
    # of Campaigns
    CTR
  • 79
    Get More with Kenshoo Social
  • Thank you!
    Kenshoo.com/Social
    Facebook.com/Kenshoo
    Info@Kenshoo.com