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Facebook held it’s 2013 PMD Conference in Menlo Park last week, featuring over 250 partners from PMDs and sPMDs around the globe. Employees from Facebook spoke from both a marketing and product perspective. The conference was high energy, well prepared and sparked us to provide an update on the state of advertising on Facebook.
Advertisers Take Note: As of TODAY, Facebook is no longer where social marketing budget is allocated but instead where performance marketing budget is allocated.
With ad offerings including News Feed Ads, FBX, Retargeting and Custom Audiences, this solutions-based approach is a comprehensive advertising opportunity as opposed to mixing and matching various products. As we see advertisers such as Fab.com, EBAY, Rue La La and Vistaprint succeed Facebook, it’s clear that innovation, efficiency and customization are the main focuses for marketers in a few different ways:
Innovation: While Facebook has released a flurry of different ad units and options of late including News Feed Ads and CPA based bidding, device agnosticism is what marketers have been waiting for. Ask yourself, how many websites or companies can you think of that people visit multiple times per day on their desktop, tablet and cell phone that offer the targeting options that Facebook does?
(the answer is none)
Efficiency: At Nanigans, we ask marketers to think about advertising at scale on Facebook and drive ROI, not CPA….but we don’t let those marketers stop there, we ask them to think bigger…don’t focus on just ROI but instead lifetime value. As a marketer, how often are you offered a lifetime value based ad-platform across a reach the size of Facebook’s?
(the answer is not very often)
A recent mobile ads case study was compiled and produced results showing Nanigans’ ROI-based Facebook Mobile Advertising delivered 52% higher ROI than Mobile Ad Networks.
Customization – There are 1 billion users on Facebook. That’s an enormous targeting pool for marketers. In addition, Facebook interests and open graph targeting allow for countless targeting groups customized to any advertiser target market. Honestly, can you think of a target market that isn’t reachable in some way on Facebook?
(the answer is no)
Facebook is the most cutting edge advertising opportunity for marketers as of today. From integrating on and offline, the relationship of in-store and out-of-store purchasing, to thinking bigger and past just “fan” acquisition, Facebook is the new directive for performance marketers. As marketers, we should continue to push Facebook to new levels and not lethargically focus on how many impressions or fans we can get or how to reduce our CPA but instead the conversation around Facebook marketing should focus around:
To all you performance marketers out there, welcome to the new Facebook, and the answer you’ve been looking for…