How Facebook Advertising Gets You Closer to Your Customer - and Closer to ROI
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NEMOA 2017 presentation featuring OrionCKB and ButcherBox CEO about using Facebook to grow your business. Included: -insights into how Facebook's advertising works on the back end, how Facebook identifies high value audiences for you (outside of who you attempt to target) -How you can integrate Facebook with catalog/direct mail efforts, as well as paid search and influencer marketing -The importance of video in a Facebook advertising strategy, particularly for retailers & ecommerce brands
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How Facebook Advertising Gets You Closer to Your Customer - and Closer to ROI
- 1. How Social Advertising Gets You Closer to Your Customer - and Closer to ROI Mike Salguero, ButcherBox Sandra Rand, OrionCKB
- 2. #NEMOA2017 Meet Your Speakers Mike Salguero • CEO, ButcherBox Sandra Rand • VP Marketing, OrionCKB • @sandra_rand
- 3. #NEMOA2017
- 4. #NEMOA2017
- 5. #NEMOA2017
- 7. #NEMOA2017 Targeting Options Offered by Facebook
- 8. #NEMOA2017 Targeting Options Offered by Facebook +creative testing +dayparting +your product catalogue +lookalikes +retargeting +device +ad types +CRM data from call centers, direct mail, email, and other sources…
- 9. #NEMOA2017 Don’t Start from Scratch • Custom Audiences from CRM data • Email list • Address list (name/zip) • Phone Numbers • Facebook matches these details w/Facebook ID – match rate is upwards of 90%!
- 10. #NEMOA2017 How ButcherBox Launched • Custom Audiences • Email list of customers (best to have at least a few thousand to start) • Website pixel that audiences of people who landed on the site • Place Facebook pixel to track traffic + conversions • Facebook pixel helped identify high LTV audiences • Build Lookalikes
- 11. #NEMOA2017 Facebook Knows Things We Don’t
- 12. #NEMOA2017 Signals We Send to Facebook
- 13. #NEMOA2017 Signals We Send to Facebook
- 14. #NEMOA2017 Signals We Send to Facebook
- 15. #NEMOA2017 Affinity Analysis for ButcherBox revealed…
- 16. #NEMOA2017 Objectives & Ad Types
- 17. #NEMOA2017
- 18. #NEMOA2017
- 19. #NEMOA2017 There’s a reason virtually all of our ecommerce clients are running ONLY video ads on FB
- 20. #NEMOA2017 Image Zoom / Slideshow
- 21. #NEMOA2017 GIF
- 22. #NEMOA2017 Short Form, <30 seconds
- 23. #NEMOA2017 Long Form, More Branding than DR
- 24. #NEMOA2017 UGC
- 25. #NEMOA2017 Video Ads with Impact CTRs than ecommerce industry benchmarks 40% higher CTRs than subscription box industry benchmarks 100% higher
- 26. #NEMOA2017 Paid Social’s Impact on Other Channels Email Facebook Influencers Search
- 27. #NEMOA2017 Facebook’s Impact on Other Channels • Be sure to account for statistical significance!
- 28. #NEMOA2017 Demographics, Interest, Lookalikes Awareness Familiarity Consideration Purchase Loyalty Broad Categories/Partner Categories/Connections DR Buttons/Lead Ads Retargeting/Product Ads Retention/Remarketing
- 29. #NEMOA2017
- 30. #NEMOA2017 ThinkGeek Results • “ROI worth pursuing” • Catalog recipients up 225% ROAS • Retargeting past purchasers, only 175% ROAS • Social + direct mail FTW
- 31. #NEMOA2017 Retargeting with Social • Remember, we spend 50 mins on Facebook/day, prime opportunity to be reminded of all the things we haven’t bought yet • Newsfeed is unignorable (largely) – esp on mobile • Content is inherently shareable • Targeting is more recent, more relevant • For ButcherBox, time to purchase may be longer ($$$ subscription) • Nudge them further down the funnel w/each touchpoint
- 32. #NEMOA2017 Finding ButcherBox’s Optimal Retargeting Frequency
- 34. #NEMOA2017 • Target Customer Acquisition Cost = Below Profit from Box #1 • Any box purchased after that is gravy (there’s a meat/food joke in here somewhere) • If CPA costs are below goals, keep spending • Scaled 200% in the last 6 months How ButcherBox Solves for ROI
- 35. #NEMOA2017 • Use your CRM/existing customer data as a jumping off point for FB targeting, FB will fill in the rest • Don’t be afraid of video – it’s Facebook’s preferred ad type, which = better delivery • Lift Tests to determine how FB impacts spend on other channels • Test retargeting of people who have seen your message across channels • CPA is a good place to start to track ROI Let’s Review