New numbers from eMarketers show strong social network ad revenue growth. This is great for the social networks but did the money advertisers spent go to the right places?
Social is no longer the new kid on the block as an advertising media category. According to WSJ, digital ad spending in the U.S. is about to surpass TV ad spending for the first time in 2016. Being the star performer and one of the fastest growing segments within the digital advertising landscape, social networks are getting a lot of love from advertisers. That’s right, there’s no escaping those sponsored posts, tweets and cards.
As social networks continue to grow rapidly, especially Facebook with 1.55 billion monthly active users as of Q3 2015, advertisers are doubling down on social as the go to media outlet for their advertising dollars. According to the latest research from eMarketer, global social network ad spending will reach $25.14 billion in 2015. Most of the ad spending growth can be attributed to Facebook, which shows a strong growth in its ad revenue. Facebook’s ad revenue will capture $16.29 billion in ad revenues worldwide, which is 64.8% of total social network ad spending worldwide. Facebook and the rest of the social networks are definitely happy, but how about their clients?
The goal of every ad is to drive potential customers to make a purchase. Social networks are only one of many media channels for advertisers to reach their audiences. For advertisers to gain real value from this spending, they need to make sure their ads are performing the way they are intended. It comes down to understanding not only how your ads are doing, but even more so about understanding your audience and being able to answer the following questions. Is the audience even the right one for your product? Does the message resonate with the target audience? These can all be answered by Facebook topic data.
Facebook topic data is the largest social data source that gives you full access to the largest social network platform without compromising user privacy. With Facebook topic data, you can gain anonymized and aggregated insights into all the posts, likes, comments and shares across Facebook. While Facebook topic data is not a product that will help you target your audience directly, it will help you understand it at unprecedented levels. It can provide valuable insights into who is the right audience, which topics drive engagement, and what content resonates with your audiences. With insights from Facebook topic data, you can craft better advertising campaigns with certainty, and best of all, you can continue to see it improve. Here are three tips on how to put your ad dollars to work:
Find your real audiences
Even the most data savvy advertisers may rely on some form of intuition and assumptions when it comes to determining their target audience. This may be ok for a regional product where you may have some unique insights into the local demographics. But with national brands and global products, this is certainly not a guaranteed approach. With Facebook topic data, you gain the broadest audience reach and insights into every demographic segment with granularity down to the age group, gender and region level. You can find the demographic segment that would engage the most with your product and messaging by finding the group that “over-indexed” for engagement with associated topics when comparing against averages across Facebook.
Determine what actually engages
Knowing your real audience is a great start, but what makes an ad good is its content. You no longer have to rely solely on intuition when designing your content. With Facebook topic data, you essentially gain access to the largest focus group in the world, from which you can discover what content people are engaging with in relation to your product and industry. Armed with this information, advertisers can create more engaging promotions for their product and even drive future product decisions.
Timing is everything
Sometimes you have all the right pieces together but things just didn’t work as expected and you may wonder why. The answer could simply be your ad timing. All your perfect content may go to waste if your target audience is not looking at it at the time the ad is displayed. This is when Facebook topic data shines again. Using Facebook topic data, advertisers can run a time series analysis to capture all the engagement before and after a related or past event to find the perfect time to place your ad and schedule it accordingly.
The next time you are thinking about creating an advertising campaign for your product, consider how Facebook topic data can help.