Successfully Scaling on the Hypercrowded Facebook and Instagram Platforms
•Download as PPTX, PDF•
0 likes•52 views
Advertising on Facebook and Instagram is getting more expensive. Retailers not only compete against each other for their audience’s attention, but they also struggle with everyone else from friends to Russian hackers trying to reach your audience. Social media expert Emily Hickey will show you what combination of marketing discipline, technical knowledge, and attribution traits you need to improve your social media campaign profitability.
Recommended
More Related Content
Similar to Successfully Scaling on the Hypercrowded Facebook and Instagram Platforms
Similar to Successfully Scaling on the Hypercrowded Facebook and Instagram Platforms (20)
More from CommerceNext
More from CommerceNext (10)
Successfully Scaling on the Hypercrowded Facebook and Instagram Platforms
- 1. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC |July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC Successfully Scaling on the Hypercrowded Facebook and Instagram Platforms Emily Hickey ChiefDetective.net
- 2. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | 2 About Me • Co-Founder, Chief Detective • Co-Founder, Instant Ad Copy • Manage FB & IG spend for clients who spend $100k - $1m/month on platform
- 3. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Fact INCREASED BY OVER 40% BETWEEN Q4 2016 AND Q4 2017 3 CPM’S ON FACEBOOK & INSTAGRAM
- 4. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Ad impressions only grew by 4% Time spent on Facebook & Instagram decreased by 5% 4 Fact
- 5. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | “We Need To Cut Acquisition Cost By 30%... And Double Spend” 5 Problem
- 6. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | 1. Embrace the Difficulty Level 2. Align With FB’s Business Priorities 3. Truly Understand Your Funnel 4. Build a Creative Testing Factory 5. Let Facebook be Smarter Than You 5 Ways To Scale Now: 6
- 7. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | 7
- 8. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | ● Your actual competitors ● Every other retailer & brand ever ● SMBs of all flavors ● Gaming & media co’s ● Crowdfunding ● Nonprofits ● B2B ● Affiliate marketers, dropshippers... Competing for PURCHASERS 2.19B monthly actives They don’t all actually PURCHASE You’re competing with highly skilled ad buyers: 8
- 9. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | 3M PEOPLE Landing Page Views Reach 250k People oCPM Purchase Leggings Mattresses Beauty Products Etc. Etc. Etc. Etc. 9 Best Acquisition Audiences Are Smaller Than You Think
- 10. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | 2. ALIGN WITH FB’S GOALS
- 11. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | “Our goal is to match the right ad to the right person at the right time. This is different than a traditional auction because the winner isn't the ad with the highest monetary bid, but the ad that creates the most total value”
- 12. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Advertizer Bid Audience Bid Rate Ad Set History Objective Optimization Estimated Action Rate Audience Niche Objective Optimization Pixel History Conversion Rate User Value Relevance Landing Page Speed Sales Funnel Experience User History Bounce Rate Engagement 12
- 13. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Your Must Add Value To Newsfeed Be THUMB-STOPPING ENGAGE ASK USER TO TAKE DESIRED ACTION 13 What works organically? Take cues from that.
- 14. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Your Must Engage & Convert To Win The Impressions That Purchase 1 High conversion rate = positive signal to FB = low costs + good impressions 2 Fast load times, low bounce rate = Strong Ad KPIs 3 Hero products deserve Kickstarter- esque landing pages 4 Mobile-first design/ development 5 Promo codes can help (important to put on LP too) 14
- 15. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Promo Codes • Often pay for themselves (and then some) • Drive positive signaling to Facebook if help conversion • Use them with strict exclusions on cold to warm audiences • Experiment with using on warm/hot only 15 Net savings of $133 per first purchase with 20% Off
- 16. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC |
- 17. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | 17 LEVEL 1: COLD PROSPECTS LEVEL 2: WARM LEVEL 3: HOT L4: EXISTING Different strategies, positioning & creative per segment Exclusions/segment integrity Rigorous thinking & testing to get strategies right How to ‘nudge’ to next step Weekly level-checking for bucket volume & conversion rates Data data data data Align Strategies To Funnel Steps:
- 18. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | 18 Do you have enough top-of-funnel prospecting to fill up retargeting buckets? Is your top of funnel getting high enough quality people in? Do you have enough activity volume overall to produce revenue goals Where are weak points in funnel conversion (opportunities)? Funnel Level-checking: Bucket Volumes
- 19. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC |
- 20. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Winning Ads Don’t Last Forever 20 ROAS vs. Week ROAS Trendline for ROAS R2 = 0,994 ROAS Week 1.05x 1.00x 0.95x 0.85x 0.80x 1 2 3 4 5 0.90x 0.75x
- 21. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | How Many Ads/Month Do You Need? 21 5:1 Hit Rate to Find a Winning Ad 3 # Hero Products x 15 New Creative Variants to Test per Month =14 Days Typical ‘half life’ of a winning ad Generate 10+ New Ads/Month To Test (for at least 2 winning ads/mo)
- 22. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | 22 4 5 63 2 1Dedicated testing campaigns & budgets Darwinian approach Data-driven conclusions Understand conversion rate vs. cost per visit Ad buyers & creative team in lock-step Data feedback loop Find Winning Ads Fast
- 23. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Instagram Stories Videos Single Product Ads Carousels Slideshows Collection ads Content ads 23 Ad Formats To Refresh Every Month VIDEO CHECKLIST Brand Video Invest - scaled accounts must Hero Product & Category Invest and also do fast & Non-Hero Product Videos Fast & Cheap Editorial Fast & Cheap Review/Unboxing/Influencer Fast & Cheap
- 24. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Get Ideas By Monitoring & Copying! 24
- 25. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | New! Monitor Your Competitors’ Facebook Ads: 25
- 26. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC |
- 27. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | Align Structurally & Technically You must work with the algorithm Big mistakes that confuse or under-leverage the algorithm: ● Audience overlap across campaigns ● Micro-audience targeting/segmented approach ● Too many ad sets (need 50 conversions/week/ad set to stabilize/optimize - consolidate!) If you don’t have right overall system in place, very hard to hit goals ● And keep evolving it ● Test - big risks, big rewards 27
- 28. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | USE FACEBOOK #S 28 Attribution dictates how much you will spend on the platform Get proper exclusions in place to use View- Thru on Prospecting If don’t use View-Thru, will likely greatly under-use Instagram Remember: >40% more expensive in 12 months Keep natural user behavior in mind Up to you!
- 29. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC | NEVER FORGET YOUR #1 PRIORITY: USER VALUE! 29
- 31. July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC |July 25 - 26, 2018 / Convene, 117 W. 46th St., NYC
Editor's Notes
- Cut cac by 30% and double spend Problem > solution
- Why do people engage, but not visit site? How can we nudge this person towards goal? How do we speak to them? How does message differ vs. cold prospect? Why did someone come to the site, but not start cart funnel? How can we position product/service in ways that might get them to reconsider? Why did someone Initiate Checkout, but not purchase? What are objections/anxieties? How can we talk to this person to nudge towards goal? How do we talk to previous purchasers to maximize value? Are we asking them to help us fill up our funnel with new prospects? Are we showing the right product to them at the time they are most likely to want to purchase again? Have an idea of how much you are willing to pay for a conversion at each step of the funnel. Make sure you aren’t paying more than you want to for each audience segment - bid appropriately! Break out your targeting between new and repeat purchases. Repeat purchasers can really muddy water with 1 day view through conversions! You want to understand what your true Prospecting CPA is down your funnel.
- Formalize your creative efforts and create hard-charging team across ad buyers and creative team What causes performance to INCREASE?! Social Proof Optimization Ad Set Learnings Don’t give up on ads too early