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Last week we held our first Social & Native Advertising Micro-Summit at Wine & Wall in San Francisco. Our theme for the evening was “Tying Together Data, Targeting, and Attribution in Social and Native Advertising,” and we were joined by our partners Taboola and Facebook.
For anyone who was unable to make it, or is simply looking for a refresh, we’ve put together our top event takeaways:
- Yes, it’s getting harder: Today, social and native advertising are harder to define and require more sophistication from advertisers. More advertisers than ever before are vying for ad space, and everything is pay to play. The channels are maturing and thus require new tactics and strategies.
- Look at the full funnel: You should not be measuring/valuing only bottom-funnel activities. You need to think of the entire funnel as a performance driver. Assign conversion events and values at every stage of your funnel.
- Don’t silo your efforts: Organic and paid efforts should be aligned, and this can be done without sacrificing brand integrity.
- Optimize towards LTV: A low CPA does not necessarily equate to a high-quality user. There are tools like Facebook’s new Value-Based Lookalikes to help you reach these high-LTV prospects.
- Not all conversions are equal: Platforms define conversions differently, so special care needs to be taken to align these with attribution windows that make sense for your business. Third-party attribution solutions can really help you understand where in the the funnel different channels operate the best.
- Creative testing is a must: Engagement with your ad is a huge factor in determining your final CPCs and CPMs. Creative should be tailored to the specific placement and should be continually tested and tweaked. 3Q Digital has created a Creative Matrix to aid clients in performing strategic creative tests every few weeks while making minor tweaks, all in an effort to increase efficiency.
Keep your eye out for next year’s event! If you’d like to view the event’s slide deck, please contact us.