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Yesterday, Facebook Studio hosted a webinar led by Fred Leach who works on advertising measurement at Facebook. Fred provided valuable insights on measuring the success of Facebook Advertising efforts, and we wanted to highlight three points that stood out to us.
Does online behavior correlate to offline action? Facebook helped answer this question using their Research Polls feature, which is located on the right side of the News Feed. Over a course of several weeks, Facebook asked users on Fridays if they were planning on seeing a movie during the weekend, and on the following Monday Facebook asked users if the went to a movie. They took the data from their Monday and Friday polls and compared them with box office revenues from that same weekend. There was a high correlation between the two polls, as well as the polls and box office revenue, signaling that consumer’s intent online does reflect offline action.
Facebook and television advertising operate very similarly in that they want to reach a certain audience, with the ultimate goal being to spur an action like becoming a customer or making a purchase. Fred underscored how Facebook Advertising data can be used to inform media buying for television. The social network ran Facebook Advertising campaigns for a number of brands to multiple audiences. It formatted the performance data from these audiences in a way that would be easily applicable to television media buying, such as which genders, age ranges and locations were interacting with the brands most as well as their overall reach (size) of these audiences. The audience learnings from these campaigns on Facebook informed where the brands should be placing their television media buying spend.
While Facebook has undoubtedly breathed fresh air into the world of targeting, marketers frequently question the “value” of Facebook users. We of course see true value every day in the Facebook Advertising campaigns run through our Ad Engine, as we track Facebook Ad spend from clickthrough all the way to valuable performance events like registrations and purchases. Fred also underscored this value, offering examples of three companies who see significant value in their Facebook fans:
The information Fred provided in the webinar illustrates that online behavior does in fact often correlate to offline behavior, measuring success on Facebook can be used to inform media buying on other platforms, and that Facebook users are in fact very valuable.
To learn more about Facebook marketing best practices, watch the full webinar video here.
How are you using Facebook Advertising to benefit your business? Let us know in the comments!