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 advertising in the context of social networks.
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Kenshoo Social Webinar: Putting Social Advertising in Context
- 1. Putting social advertising in context July 28, 2011
- 2. 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
- 3. Search and social: better together
- 4. Theme: Integrating social with search is essential to building a âget foundâ strategy
- 5. Why integrate social and search? What are some best practices for integration? How do you measure the value of integrating social with search? Agenda
- 6. Why integrate social and search? What are some best practices for integration? How do you measure the value of integrating social with search? Agenda
- 9. Users' ways of finding information have changed
- 10. 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 theyâre 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
- 11. Kenshoo Case Study â 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
- 12. Why integrate social and search? What are some best practices for integration? How do you measure the value of integrating social with search? Agenda
- 13. 1) Improve SEO visibility: Drive inbound links⌠Social media profiles further distribution ď , encourage users to forward ď , generates more inbound links ď improves your natural rankings.
- 14. 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
- 15. 3) Mine keyword searches for content to create or highlight
- 16. 4) Enable ratings and reviews Ratings help your listing stand out from others in search engine results.
- 17. Reviews help your brand get found, even if your site does not Ikeaâs site doesnât show up in the search results â but reviews of their products do.
- 18. And they improve position in local listings Reviews, user-generated pictures, other social content boost local results.
- 19. 5) Use paid search to extend the distribution of social content Sponsored results on social sites promote created social content
- 20. 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
- 21. Why integrate social and search? What are some best practices for integration? How do you measure the value of integrating social with search? Agenda
- 22. 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
- 23. To summarize The future of search marketing is about âgetting found,â 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
- 24. Shar VanBoskirk +1 617.613.5845 svanboskirk@forrester.com www.forrester.com Thank you
- 25. 25 Getting More out of social advertising
- 26. 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. 27 Our Product Suite
- 28. 28 Brands Powered by Kenshoo Social
- 29. 29 Why Kenshoo Social? Scalable Ad Creation Robust Campaign Management Custom Facebook Algorithm Flexible Reporting
- 30. 30 Getting More Out of Social Advertising: Keys to Success
- 31. 31 Getting More Out of Social Advertising: Keys to Success
- 32. 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
- 33. Facebook has Plenty of Impressions 33 Source: Comscore May 2011
- 34. 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
- 35. 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
- 36. 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
- 37. 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
- 38. The Impression Issue 38
- 39. 39 Shining New Light on Social I liked it. Hmm.
- 40. 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. 41 Putting the KPIs in Kenshoo
- 42. 42 Getting More Out of Social Advertising: Keys to Success
- 43. 43 Getting More Out of Social Advertising: Keys to Success
- 44. 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
- 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 Most advertising tracking systems report and act on only the last click prior to purchase 45
- 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 25% 10% 5% 60% 46
- 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 40% 10% 10% 40% 47
- 48. 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
- 49. (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. 50 Choose One Platform as Your True North
- 51. 51 Choose One Platform as Your True North
- 53. Prefer First
- 55. U-Shaped
- 56. Prefer Last
- 57. Last Touch20% 40% 60% 80% 100%
- 59. Prefer First
- 61. U-Shaped
- 62. Prefer Last
- 63. Last Touch20% 40% 60% 80% 100%
- 65. Prefer First
- 67. U-Shaped
- 68. Prefer Last
- 69. Last Touch20% 40% 60% 80% 100%
- 71. Prefer First
- 73. U-Shaped
- 74. Prefer Last
- 75. Last Touch20% 40% 60% 80% 100%
- 77. Prefer First
- 79. U-Shaped
- 80. Prefer Last
- 81. Last Touch20% 40% 60% 80% 100%
- 83. Prefer First
- 85. U-Shaped
- 86. Prefer Last
- 87. Last Touch20% 40% 60% 80% 100%
- 88. 58 Getting More Out of Social Advertising: Keys to Success
- 89. 59 Getting More Out of Social Advertising: Keys to Success
- 93. 63 Targeting: The Kenshoo Social Way Creative Target x = x =
- 94. 64 Slick Segmentation Dynamic Estimated Reach Full Geographic Targeting and Language Settings
- 95. 65 Slick Segmentation Target by age, gender, relationship status
- 96. 66 Slick Segmentation Relate to your audience through likes & interests, education & workplaces
- 97. 67 Slick Segmentation Save Custom Target Settings Reach Friends of Friends
- 98. 68 Getting More Out of Social Advertising: Keys to Success
- 99. 69 Getting More Out of Social Advertising: Keys to Success
- 100. 70 Avg. CPC Population Size Source: Facebook API June 2011 High Variable Cost Between Targets
- 101. 71 Testing Tactics Segments Images Messaging Scheduling Bidding
- 102. 72 Refine Segments Segments
- 103. Image is Everything Images Use Buttons Image frames Celebrities Think outside the box! Background colors Shocking Images Animals People vs. Objects 73
- 104. Messaging Messaging Matters 74
- 105. Messaging Matters Messaging Use a Call to Action Refresh Copy Often Use Promotional Codes Donât use Standard Search Copy Personalize Ads Short and Concise is Best 75
- 106. Scheduling is a Snap Scheduling 76
- 107. 77 Better Bidding Bidding Smaller Social CTR Variance Demands Tighter Bid Algorithms Social Search # of Campaigns CTR
- 109. CPA
- 110. ROI
- 111. Follow FB Suggested BidSearch # of Campaigns CTR
- 112. 79 Get More with Kenshoo Social
- 113. Thank you! Kenshoo.com/Social Facebook.com/Kenshoo Info@Kenshoo.com
Editor's Notes
- Kenshoo is a digital marketing software company. We were founded in 2006 and funded by Sequoia Capital and Arts Alliance. And weâve 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.
- Hereâs 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.
- Hereâs 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, itâs 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 letâs 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 letâs dig into KPIs.
- Here are all the KPIs you could consider. Letâs start with traditional KPIs that we focus on in search and other DR channels. Now letâs 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 youâre tracking and why.
- So how do you determine what are the right KPIs. Well, we all know thereâs 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, youâll 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, youâll 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 youâre wondering, 60 out of 400 of you RSVPâd 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, youâll have a relatively limited pool of r
- Now before we just go an dismiss the click altogether, letâs remember 2 things.One, clicks can also drive activity to Facebook objects, like pages and events. So theyâre critical in that sense. And clicks are also critical in terms of determining what you pay for marketplace ads. As you can see here, thereâs a strong correlation between click-rate and cost per click.
- But what about all those impressions that donât get clicked? How do you measure theyâre 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 itâs not one-way brand engagement, itâs true brand interaction and word of mouth as John pointed out.
- So letâs focus on some new KPIs that can help put all those impressions in perspective, namely social impressions, reach, social reach, and engagements.
- And letâs 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 viewerâs 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 youâve figured out what youâre trying to do and how youâll measure it, letâs talk about how you appropriately credit social advertising for itâs 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, itâs critical to keep in mind all the touchpoints along the way. In this example, we have someone who clicks on a Facebook ad but doesnât 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 itâs 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 itâs 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 letâs 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 wonât also show positive ROI so donât let that be your end-all-be-all 2. Make sure to give credit to Facebookâs impact on sales thru other channels and 3. Back to KPIs, consider other ways beyond direct ROI to measure efficacy of social advertising.
- Now letâs 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 thatâs 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 weâll do all the permutations and upload them to Facebook. Weâll 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 weâll create 3 ads on Facebook.
- When choosing your targets, youâll 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, weâll 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 donât 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 donât have to start from scratch the next time you want to set up an ad.
- OK, now letâs talk about testing.
- Why is testing so important? Well you can see here thereâs 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 weâll 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, youâll 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 donât 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 youâll 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 itâs 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 youâd 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 Kenshooâs products or services.