22 Jun Facebook Ads and Metrics: New Research for Marketers : Social Media Examiner
Wondering if Facebook continues to be a related platform for advertising?
Interested in how your colleagues and friends will use Facebook within the coming 12 months?
In this text, you’ll uncover new insights that present the place Facebook entrepreneurs are focusing their consideration and how one can finest reap the benefits of advertisements on the platform.
#1: Facebook Advertising Spend Will Increase
According to Social Media Examiner’s 2017 Social Media Marketing Industry Report, 94% of the 5,700+ entrepreneurs surveyed use Facebook for advertising, up from 93% a 12 months in the past. Furthermore, 62% of the respondents stated that Facebook is their most necessary advertising platform.
It’s solely been eight years since Facebook rolled out their superior viewers focusing on capabilities, and handed the advert creation and administration reins over to the client. These two advances brought about advert income to almost triple, going from $272 million to $777 million within the first 12 months alone. Facebook is anticipated to herald $36.29 billion in advert income this 12 months, up 35.zero% from 2016.
eMarketer stories that in 2015, there have been 1.22 billion reliable, non-commercial Facebook accounts and that quantity grew by 12.eight% to 1.34 billion in 2016. Growth has slowed over the past 12 months, nevertheless, and from 2016 to 2017, Facebook noticed solely a 9.6% development of their person base. From 2017 to 2018, they’re predicting development of seven.9%.
As a outcome, eMarketer stories that Facebook advert spend will sluggish significantly over the following 12 months, with their predictions placing development at solely 26.5%, whereas 2016 noticed a 57.four% improve. One contributing issue could also be that Facebook is just working out of advert house in individuals’s information feeds, one thing Facebook has been cautioning buyers about since final 12 months.
So what does that imply for social media entrepreneurs? Not solely does the competitors and value rise for advert house, but it surely additionally speaks to the bigger problem of shoppers’ information feed advert fatigue.
In different phrases, Facebook information feed advertisements are beginning to go unnoticed by shoppers as a result of sheer quantity and frequency of them. Ad prices are rising whereas many see engagement charges dropping. According to the 2017 Social Media Marketing Industry Report, 53% of surveyed entrepreneurs have seen a decline of their information feed publicity.
This results in an even bigger query: Are social media entrepreneurs simply sticking with Facebook due to the big base, no matter what their information is telling them, in hopes of one thing altering quickly?
In truth, in ClickZ Intelligence’s State of Digital Advertising 2017 report, 61% of promoting professionals surveyed plan to extend their Facebook advert spend and 20% don’t plan to make any adjustments in any respect. In different phrases, 81% of entrepreneurs who make the most of Facebook aren’t going wherever.
Facebook is aware of their information feed advertisements aren’t as efficient as they was and they’re reaching the excessive finish of their advert load, which is why they launched new choices like Messenger advertisements.
Since social media entrepreneurs have already begun to really feel the sting of this saturated market, it’d be smart to keep on high of the brand new advert varieties and strike whereas the iron is sizzling, particularly since 62% of our survey respondents plan to extend their Facebook advert actions.
Facebook information feed promoting definitely isn’t out of date (and our research confirmed 62% of you think about Facebook your most necessary advertising platform), however you will not be getting the largest bang for your promoting buck proper now.
#2: Marketers Continue to Question Facebook Metrics
A mixed 42% of our survey respondents reported that their Facebook advertising actions are efficient, down from 46% only a 12 months in the past. On the opposite hand, 58% say that their Facebook advertising initiatives aren’t efficient or they don’t know. Measuring ROI has all the time been a sore spot for social media entrepreneurs, however is that this incapacity to measure outcomes solely accountable for the perceived lower in effectiveness?
In September 2016, the Wall Street Journal reported that for two years, Facebook overestimated the period of time customers spent watching movies on the platform by as a lot as 60% to 80%. While this problem was sufficient for some to name into query Facebook’s measuring capabilities, the minimal threshold for a view is three seconds, so this error didn’t have an effect on the general variety of views being reported to firms.
Just two months later, nevertheless, one other measurement downside got here to gentle.
On December 9, 2016, Facebook introduced they observed a distinction between the variety of likes and shares reported on its Graph API and the stats showing if that very same person noticed the put up on their cell app.
While they’ve since reportedly fastened the issue, this calls into query the general effectiveness of how Facebook measures the metrics that decide not solely what advertisers pay, but in addition the information they use to find out the effectiveness of their campaigns.
Facebook solely permits a handful of accredited distributors to deal with their information and measurement sharing capabilities (the “walled garden” strategy), which has been a thorn within the facet of advertisers for some time now. This pressure solely happened due to these measurement glitches. The backside line is that firms need to select their very own information companions, primarily ones whose findings they know they will belief.
It’s necessary for manufacturers to keep vigilant and hold a watch out for any information discrepancies of their Facebook promoting numbers, particularly when new kinds of advertisements begin showing. When new advert codecs are rolled out, many occasions current metrics should be tweaked or new ones applied. There are certain to be kinks at first.
#three: Varied Ad Formats Combat News Feed Ad Fatigue
News feed advert fatigue is an actual factor, and in a manner, Facebook is recognizing this by admitting they’re working out of locations to place advertisements in individuals’s information feeds. When shoppers see too many advertisements too many occasions, click-through charges plummet. Throw in the truth that some manufacturers don’t rotate their advertisements for selection, and you’ve got an more and more irritating person expertise.
At Social Media Marketing World 2017, Michael Stelzner mentioned the frustration entrepreneurs really feel as a consequence of Facebook’s ever-changing information feed algorithm. This 12 months’s Industry Report echoed these complaints with 53% of respondents saying their information feed publicity has declined over the past 12 months.
One option to fight that is to modify up advert varieties.
For their e-book, The Science of Successful Facebook Ads, HubSpot along with AdEspresso analyzed over 100,000 Facebook advertisements and discovered that almost 75% (74.eight%) of those are web page put up hyperlink advertisements. Video (15.5%), photograph (eight.2%), and occasions and presents advertisements (1.9%) make up the remaining advert varieties.
In different phrases, their information exhibits that whenever you make the most of web page put up hyperlink advertisements, you’re doing what 75% of all Facebook advertisers are doing. It stands to cause you’ll get misplaced within the information feed noise.
In our Industry Report, 75% of respondents stated they have been planning to make use of video much more as part of their content material technique and 61% plan on utilizing extra reside video—up from 31% only a 12 months in the past. And in line with Recode, Facebook goes to begin providing mid-roll advertisements to video publishers, giving advertisers one other option to capitalize on the rise of video viewing on Facebook.
While Facebook obtained off to a rocky begin with the viewing measurement side of movies, they’re a model that learns from errors, so there needs to be fewer, if any, bugs now. This new advert format could also be what’s wanted to face out from the group.
What do you assume? How will these insights have an effect on your advertising? Will you modify your strategy to Facebook advertising? Share your ideas within the feedback beneath.