A couple of weeks ago, three of us from Tiger Pistol’s Client Management & Operations teams attended the Facebook Marketing Partner Bootcamp, and two of our engineers attended F8. Both events were fantastic, and there are some really exciting product enhancements and updates that we’re looking forward to leveraging to further enable our clients to drive success with Facebook ads at scale.
Facebook is Still the Clear Winner in the Social Space
Sure, there are those who say, “What about Snapchat? And Twitter?” I’m not discounting them as irrelevant. However, when it comes to social dominance, there’s no question that Facebook and Instagram have it, and even more evidence to that effect came out today in this article by VentureBeat. At the conference, they reiterated their user-base numbers, which never cease to amaze:
- Facebook – 1.9B active users each month (209M in US). 1.2B on mobile each day (151M in US).
- Instagram – 700M monthly active users (108M in US)
- Messenger – 1.2B+ active users
- Whatsapp – 1.2B+ active users
Instagram is Making it’s Mark
While there is, of course, plenty of overlap between users of Facebook and Instagram, Instagram is attracting users who want a more visual and mobile-centric platform. What’s even more amazing is that ads on Instagram – perhaps because they tend to put a lot of focus on imagery – perform incredibly well. Just check out Instagram’s jaw-dropping stats, including the one that notes that 80% of all Instagram users follow a business:
- 400M daily active users
- 80% beyond the US
- 1M active advertisers
- 200M+ users using stories
- 8M businesses
- 80% of users follow a business
- 60% of users learn about a product and 75% of them take an action
Placement is Key
If the previous insight about Instagram wasn’t convincing enough for you, this ought to do it. Ad placement on Facebook & Instagram together has seen:
- 15% increase in brand awareness
- 6% increase in video views
- 28% increase in post engagement
The Rise of Mobile Brings a Content Deluge and the Need to Outsmart the Horde
We already know that 3 hours a day are spent consuming content on mobile, and that mobile is absolutely part of the purchase decision – in fact, 88.5% of digital shoppers are mobile shoppers, and ⅓ of all US retail sales are influenced by mobile.
But with the rise of mobile and social networks, we’ve also seen the rise of content creation and distribution. The pace of content creation is literally surpassing our ability to consume, and attention really has become a scarce resource.
What does this mean for businesses? Now more than ever, advertisers need to spend their marketing dollars wisely – and should be spending where they can target real people who are likely to be interested in their products or services.
Easier Offer Redemption
Facebook has listened to feedback from advertisers and consumers alike, and identified where they could enhance the Offers product to drive better business outcomes that are trackable. They’ve also made it easier for consumers to claim and redeem offers easily without having to download a coupon, print an email or remember a unique code. The Offers product can now be configured to drive online and offline redemption, each enabling two separate user flows. Plus, users can easily sort through offers they’ve claimed via the new Offers Tab (similar to Marketplace and Events). Users will be organically reminded about Offers they’ve claimed, making it even easier for advertisers to drive success without a hefty price-tag.
Lead Generation Improvements in Trackability
Did you know that it takes approximately 38.5% longer to fill out a form on mobile than on desktop? This is usually because businesses aren’t optimizing web forms for mobile. Optimizing forms for mobile is critical to driving form submissions, and Facebook is absolutely in tune with this. Enhancements include improved trackability, such as leveraging the Facebook Pixel and Offline Conversions API to not only inform advertisers of ad performance, but also provide valuable data back to Facebook to further enhance ad targeting.
Other Products & Enhancements
Being a Facebook Marketing Partner has so many benefits, one of which is early access to information about new products and the enhancement of existing products before they go public. As Facebook says, they’re only 1% done, and their roadmap is looking stronger than ever. While we can’t actually share what’s on Facebook’s roadmap (sorry, we’re under NDA!), what we can tell you is:
- They are continuing to invest in their targeting and optimization tactics, including updates to Custom/Lookalike Audiences
- They’re committed to allowing advertisers to realize true return on ad spend, and are doing things in the attribution space to support this
- There are three new ad products on Facebook & Instagram that are not only genius, but are already being tested in beta and are driving great results
- Bots will enhance the way we message with each other, and how advertiser’s connect with consumers
- They’re committed to leading the way in virtual reality, with a focus on products that continue to connect the world
Watch for more insights from the world of Facebook right here on the Tiger Pistol blog!
Sources: All data in this post not otherwise referenced came directly from Facebook Partner Bootcamp and F8.