These trends will most certainly have an impact on your marketing plans for the upcoming year. So to help you prepare, we’ve composed a two-part list of trends that you need to be aware of in 2016.
1. Facebook Amps Up Innovation
Facebook has a strong focus on increasing its advertising effectiveness. In 2015 alone, Facebook released ad innovations like the carousel unit, relevance score and dynamic product ads. These developments, combined with Facebook’s unparalleled audience reach and targeting capabilities, has made the platform a powerful marketing force. Future additions to its advertising capabilities in the year ahead means Facebook will retain its title as a leading channel for digital advertisers aiming to find and retain new customers.
2. Video Budgets Soar
Marketers have begun recognizing the power and popularity of video ads. In 2015, a group of Nanigans advertisers increased their spend on Facebook video mobile app install ads 410% in just one month. And according to eMarketer, “Video will also command a large portion of ad spending allocated to digital in 2016: 14.3%, up from 12.8% in 2015.”
There’s a reason marketers will continue upping their video ad spend in the new year, particularly on social media. Daily video views on Facebook topped 8 billion in November 2015; a figure that is double what Facebook reported in April 2015. Such rapid growth indicates a significant opportunity for marketers to maximize ad spend.
3. Retargeting Gets Even More Powerful
The start of a new year is the perfect time for advertisers to reassess retargeting efforts and explore the newest, most powerful tools available. With the introduction of dynamic product ads in 2015, Facebook offered marketers a highly scalable retargeting solution that’s built on a foundation of real-time product information. With DPAs, campaigns can be more effective by promoting the most ideal products to individual shoppers at the right time, across any device.
Marketers on Facebook will further adopt and grow dynamic product ad campaigns throughout 2016, driven by these core benefits:
4. International Markets Take Off
In 2016, Asia-Pacific will be a ripe market for businesses looking to expand their global customer base. According to eMarketer, there are over 401 million Facebook users in the region, and 90% of them access the site on mobile devices. eMarketer also forecasts a large increase in APAC Facebook users in the near future:
Targeting an APAC audience of Facebook users is a great deal for advertisers compared to the average Cost Per Thousand Impressions (CPM) and Cost Per Click (CPC) in more saturated markets. Because ads can reach a large group of new users for a relatively low cost, Facebook advertising is the perfect entry point for marketers looking to expand to the Asia-Pacific region.
5. In-House Advertising Disrupts Agencies
The advertising industry is in the midst of a sea change as more brands put their agencies under review and move their advertising in-house. Reuters cites several reasons for this shift. It points out that more traditional methods of advertising are giving way to social and mobile, and that marketing developments are outpacing agency expertise. In addition, brands are demanding more pricing transparency from their partners.
Because of this, many forward-thinking CMOs are seizing control of their digital advertising as a powerful driver of growth and revenue management. By leveraging core advertising competencies in-house, they can increase revenues, lower costs, reduce risk, and enhance speed to market for their businesses.
Take a complete look at what’s ahead with our latest guide: Get The 2016 Marketer’s Guide to Facebook Advertising!
