Facebook recently announced the availability of Carousel Video ad format allowing advertisers to combine video campaigns with direct response ads. Now Facebook will offer TRP based buying to complement the TV advertising. Facebook has announced the new TRP Buying product to help television marketers more easily raise awareness of a campaign through video ads. TRP is a metric used by the TV industry to refer to specific audiences within a larger, impressions-based campaign measurement. TRPs are calculated using the denominator of the total target audience, and the numerator as the total impressions delivered to this audience x 100. (As in 1,000,000 impressions among the target audience / 10,000,000 people in total in the target audience x 100 = 10 TRPs)
Facebook’s new product allows advertisers to use TRPs to plan and buy video ads and integrate the ads with their linear television campaigns.
According to Facebook’s blog post,
Incremental Target Audience Reached: Measured across 42 US campaigns, when TV and Facebook were combined, advertisers saw a 19 percent increase in targeted reach versus TV alone. When Millennials were the target audience, incremental reach increased to 37 percent.
Efficiency: Across the same 42 campaigns, Facebook impressions were two times more likely to hit their target audience than TV impressions. This means advertisers spent less to reach their target audiences.
Effectiveness: A study by Nielsen of seven recent campaigns showed that, compared to people who saw TV alone, people exposed to both TV and Facebook demonstrated a 3.2 percentage point increase in ad memorability, 11.5 percentage point increase in brand linkage and a 22.7 percentage point increase in likeability linkage.
Promoting your brand on Facebook with video posts is likely to boost engagement for your campaign, according to Nanigans, here are the leading trends for Video Advertising.
- Video continues to attract greater portions of Facebook ad spend, with video enabled units accounting for 16 percent of total spend in Q2 2015. This is up from 13 percent in Q1 2015.
- In June, video ads captured their highest share of Facebook ad spend ever observed through Nanigans software, at 22 percent.
- Mobile video has been particularly attractive to advertisers on Facebook, with 21 percent of total global mobile ad spending going toward the format in Q2 2015, compared to 15 percent the previous quarter.
- Mobile video grew by 44 percent in Q2 over Q1 2015 as compared to 23 percent growth for Video ads.
Here is a slide-share for different metrics for Facebook advertising:
The Holiday season advertising on Facebook tends to trend with the highest CPC and CPM coinciding with peak holiday season days,
Five Ways To Optimize Your Facebook Advertising Campaign
Choose the right creative combination and the ad format
Getting the best results from your campaign requires that you look for an optimal combination of creative that will help you reach your target impressions and clicks while getting the best rates possible. Building the cost increase for peak days can help you decide the creative that is likely to get best results is scheduled for the highest bidding days.
Choose the creative combination to achieve results based on your campaign objective. Given the effectiveness of video and mobile, use the targeting and creative combination that works for your brand and helps you achieve the campaign objective.
Use the Right Creative Approach. The creative approaches that work for a vertical may vary, however an overall guideline while creating ads for your brand campaign can draw upon the successes of other retail brands. As can be seen from Visible Measures report, Event and Stunts creative followed by Humor are the most viewed creative for Q4 2014.
Snickers campaign #EatASnickers has delivered views and engagement making for a successful brand campaign that positions the brand with humor. Snickers newest video with recent launch of new wrappers with labels that give different personality descriptions on the wrapper enliven the brand’s positioning by taking it a step forward asking the viewer to associate with the type of person they are when they are hungry .
Use the Right Video Ad Length Short-form Video works the best in delivering on Brand-performance as the Metrics see the sharpest rise in the initial few seconds emphasizing the need to get your branding up-front.
Create a Singular Branded Impression A Singular Branded impression means that depending on your campaign objective, the creative has to communicate the key message in the ad. This can be achieved with a creative that incorporates a brand link, with a focal point and has a direct call to action, with a link to the brand site or the offer. If you are planning to use Video then the video creative has to bring forth the key idea of the campaign.
Optimize your Campaign With Targeting and Retargeting
An example of Consumer Journey for a Smartphone Shopper shows repeat visits to Facebook in the Consumer Journey, making Facebook an ideal advertising platform for retargeting. Consumers visit retailer’s site and manufacturer’s site prior to deciding on the purchase. Campaigns retargeting audiences depending on the stage of buyer journey can maximize online conversions. This requires using Facebook Target audiences effectively to determine the right audience mix to maximize your Target Reach. The campaign reach can be boosted with Retargeting or Remarketing by using Custom Audience and Lookalike audiences. Creating a customer journey for your product category while looking at the media apps that are popular with your target audience. Combine your customers media journey with Facebook Audience Network Targeting capabilities to achieve the best results for your campaign.