Social Marketing Metrics – Research Study
While the findings of the Social Media metrics research by Resolution Media and Kenshoo Social are not earth shattering, they are worth reviewing before developing a Social Media Plan by advertising on Facebook.
[The dataset examined for this report spans nearly 65 billion Facebook ad impressions and 20 million Facebook ad clicks during the 12-month period beginning March 1st, 2011 and ending February 29th, 2012.]
The report reviews the effectiveness of the different media types available for advertising on Facebook breaking it down as:
- Owned Media – creative “real estate” that you build and own on Facebook
- Paid Media – the ads
- Earned Media – created by interaction and “likes” for your brand / company
Facebook Marketing Insights – Some of the conclusions listed
- Drive interaction within Facebook.
- Pages have the highest share of clicks for Facebook ads and Like ads have the highest CTR.
- Post Ads and Sponsored Stories have the highest response rates and lowest CPCs
- Web Ads and Social Ads are helpful for driving volume and off-Facebook activity.
- App Usage thrives with social context and offers deep user data and lifetime value.
- Important to look at % of your target audience has been exposed to your brand
- Look at post-engagement metrics beyond the click to include KPIs such as likes, shares, sales, and other conversion events as well as CTR and conversion rate.
My own conclusion is Facebook advertising offers great opportunities, but it takes a lot of resource (including creativity and investment), and “digital media know how” to get significant benefits. For small businesses I believe there is “lower hanging fruit” marketing opportunities that are easier to manage.