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Online shopping on Cyber Monday was the biggest online shopping day in history this year with a 20.6 percent increase in online sales. Several studies cited Facebook as the most effective social network for driving shoppers to retailer websites and for delivering the highest number of conversions.
Nanigans’ data mirrors these trends. We compared the relative performance of Facebook desktop advertising campaigns managed with our Ad Engine software during the Thanksgiving through Cyber Monday shopping weekend with last year. The five day online sales period this year was the highest ever in terms of same-day ROI (return on ad spend). Our study shows a 377% year-over-year increase in same-day ROI on Cyber Monday.
In reviewing 2013 data, online retailers saw on average a 198% increase in return on ad spend for the five day online sale period in in contrast to earlier in November suggesting that Facebook has become an integral part of retailers marketing strategies for the holiday shopping season as the social network plays a more significant role in consumer purchasing decisions.
Online retailers saw on average 140% higher clickthrough rates (CTRs) on their Facebook ads during Cyber Monday weekend as compared to 2012.2013 Cyber Monday weekend CTR’s are up 13% in comparison to earlier in November. This suggests that Facebook shoppers were highly motivated by the weekend-long cascade of discounts, sales and other promotions.
Over the course of the Thanksgiving – Cyber Monday Shopping weekend, we saw on average a 20% increase in CPCs in comparison to 2012. When comparing 2013 Cyber Monday Shopping Weekend with costs earlier in November 2013, we saw an increase of 18%. This is likely due to heightened demand for inventory this time of year as online retailers rush to meet Q4 volume goals.
Although costs were higher (CPCs) during the Cyber Monday shopping period, engagement (CTRs) and ROI (return on ad spend) increased. The results suggest that online retailers leveraging Nanigans’ value-driven platform were immediately able to take advantage of higher shopper intent during holiday season by recognizing early ROI improvements and allocating more budget accordingly.
There are a number of factors influencing Facebook’s advertising success in 2013. Not only has the number of people and time spent on Facebook grown exponentially year over year, so has the company’s advertising capabilities and performance. The company is continually building, testing and improving its ad products on all fronts – from creative and targeting to optimization and reporting. This provides a more meaningful experience for consumers and better performance for advertisers.