No time like the holidays to tap into FBX
Published: November 29, 2012
Author: Todd Herrold
Black Friday and Cyber Monday have just passed, and many of us are finally recovering from the turkey
Hopefully, you are enjoying positive results from your social media marketing campaigns in this first, most important week of the holiday retail season. Sadly, many social media marketers will analyze the performance of their Black Friday and Cyber Monday campaigns and discover they are underperforming against goals, thereby setting the stage for a rough ride to the end of the year.
Whether your marketing efforts so far have been naughty or nice, online shopping activity has never been higher, and there’s a great way to capitalize. You can boost your holiday retail marketing performance and drive significant incremental conversions and revenue by supplementing your campaigns with retargeted ads on Facebook Exchange.
Facebook Exchange, or FBX, is a new way to purchase Facebook ads through real-time bidding (RTB) based on the consumer’s browsing history. FBX enables direct-response advertisers to use cookie data to deliver more relevant and timely ads to Facebook’s massive audience and re-engage with consumers who have already demonstrated interest in the advertiser’s products or services. Advertisers who use FBX can extend their reach into the lower purchase funnel and can enjoy higher click-through and conversion rates with FBX as compared to traditional campaigns.
Ensuring your FBX campaigns work, of course, depends on a number of factors, such as campaign goals and objectives, quality of your ad copy and images, etc. The most successful FBX campaigns tend to be those that use dynamically generated ads based on the actual products the user has recently viewed. FBX is only available through the digital marketing software of approved Demand Side Platform (DSP) and Facebook Ads API partners, and selecting an FBX partner with this capability is key.
As with everything in social media advertising, complexity creates weakness and simplicity breeds strength. Follow these five steps to succeed on Facebook Exchange:
1. Supplement your existing Facebook campaigns with FBX for a complete direct response social marketing program.
2. Choose a Facebook-approved FBX provider (list here); the service is not available directly through Facebook’s interface.
3. Be clear on your campaign goals and objectives.
4. Make sure your ads are eye-catching and relevant to the target audience, using dynamically generated creative whenever possible.
5. Include a clear call to action in your ad text to drive desired response.
While it is relatively new, FBX is already delivering significant, tangible benefits to advertisers this holiday season. Given the volume of Facebook ads available, FBX represents the largest intent-based advertising channel for direct marketers since Google AdWords. As a result, FBX could be a tremendous opportunity for social media marketers who dive in early and get a lead on their competition in a nascent market that is expected to grow very quickly.
FBX should be a key component of every direct response marketer’s social media campaigns on Facebook in the holidays and beyond. Supplementing your ongoing Facebook ads and sponsored stories campaigns with FBX ensures a continuous cycle of new prospects entering and moving through the buying funnel and, most importantly, completing purchases.
– Todd Herrold