NEED A GRAPH THAT SHOWS AN EXAMPLE OF A FACEBOOK PLATFORM AD, THIRD PARTY BUYING PLATFORM AND NEW DEMAND SIDE PLATFORM
New Demand Side Platforms Here’s how Facebook Exchange works:A user visits a travel site that’s hired a DSP rigged up with Facebook ExchangeA cookie is dropped on that user’s computer, typically when they’ve shown purchase intentIf the user fails to make a purchase, or the advertiser wants to market to them more, the DSP contacts Facebook and gives them the user they wish to target’s anonymous User IDThe advertiser pre-loads creative for ads that would target that userWhen the user visits Facebook it recognizes the cookie dropped by the DSPThe DSP is notified and allowed to make a real-time bid to show the user adsThe DSPs with the highest bids get their highly-targeted ads shown to the userIf the user disapproves of being shown the ad and ‘X’s it out, they’re shown a link to the DSP where they can opt out of future Facebook Exchange ads
Kendra B Ferguson
Beyond the Wall Post: Mastering Facebook’s Evolving Platform Kendra Bracken-Ferguson | Digital Brand Architects June 29, 2012
“A brand might have millions of Facebook fans, butwhether they‟re engaged is a different story.”“From Hi to Buy” in WWD Beauty; May 11, 2012
Success is a Choice: Effectively Activating YourFacebook Strategy1. Get to know your customers2. Analytics tell only half the story3. Your customers are not a commodity4. Smarter content = better reach, engagement5. Supercharge marketing campaigns through paid, owned and earned
1. Get to know your customersIt’s more about understanding how people behave through digital and travelthrough the ecosystem.
In an interview with Mashable in September, Oscar de la Renta CEO Alex Bolensaid he expects Facebook “will become a major channel of commerce” for manybrands. “Whether [Facebook] becomes one of ours depends on us developingproducts that are right for our brand and that channel of our commerce,” he added.
Ticketmaster users can import their social graph to the site which then tailors aconcert list based on what they and their friends are listening to. When someonebuys a ticket, they can share the info with their friends. Whenever fans posted on Facebook about concerts theyd just bought, the company would see an average $5.30 more in ticket revenue, CEO Nathan Hubbard said. "I want to go" and "I just bought tickets"
2. Analytics tell only half the storyFacebook limits the output of its analytics to focus on one side of the story: Yourperformance as a brand, which is helpful—but it‟s only useful coupled with theability to understand your audience1. Take stock of what you can get from your platforms and Facebook and then combine your data points.2. Empower yourself with the Open Graph3. Don‟t just rely on analytics; spend more time on analysisThe most valuable insights comefrom the contextualization of data,not the data content itself
3. Your customers are not a commodityHumanize your brand:Users pick brands the sameway they select friends: onintegrity, friendliness,respectfulness, interestinginteractions and trust
For Bobbi Brown, a brand that hasprimarily relied on word of mouth ratherthan traditional advertising, its forays intoF-commerce have been all aboutengagement rather than sales. Recently, itcreated a Facebook program called BobbiBrings Back, where consumers in sixmarkets (the U.S., U.K., Australia, Japan,Germany and Korea) could vote on whichdiscontinued lipstick shade they wantedthe brand to bring backMore than 40,000 votes were tallied, andthe winning shade will be sold only viaFacebook in October. “The point is not therevenue,” says Maureen Case, presidentof specialty brands at the Estée LauderCos. Inc. “The point is to engage with ourconsumers and show them how much weappreciate them and that we are listening.A brand might have millions of Facebookfans, but whether they‟re engaged is adifferent story
4. Smarter content and campaigns = better reach,engagement• Have an opinion and add value• Keep it short and include a call to action• Show, don‟t tell—whenever possible• Listen and give people what they want• If you don‟t know what resonates, ask--either directly or through a poll, survey, etc.• Leverage 3rd party tools to provide added intelligence around posting strategy
The Limited released a coupon for $15 off for any in-store purchases whichgenerated $317,000 in sales and increased the Facebook fan base by nearly 28,000fans in just three days
comScore found that within four weeks of seeing messages about Starbucks, fansand friends of Starbucks fans were 38% more likely to buy Starbucks coffee.Likewise, a test with Target fans and their friends suggested they were 27% morelikely to make buy at the retail giant
5. Supercharge marketing campaigns with paid,owned and earned media
“We are evolving from ads to stories. Ads come from anyone at anytime. Stories come frompeople and things that you‟re connected to.” Facebook‟s Director of Global Business Marketing,Mike Hoefflinger„Featured stories‟ are amplified page updates linked to users‟ social graphs, with their friends andother fans actions driving recommendation and therefore effectiveness These are not „ads‟ in anyconventional sense of the word, but a new combination of brand conversation and word ofmouth, irrevocably blurring the lines between paid, earned and owned media to the extent thatthe lines no longer exist
Facebook Exchange, a real-time bidding ad system where visitors to third-partywebsites are marked with a cookie, and can then be shown real-time bid adsrelated to their web browsing when they return to Facebook