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O2 has become the first brand to measure the effectiveness of Facebook ad impressions. The results found that conversion rates had improved by between 16% and 123% when Facebook Custom Audience ad placements were used in combination with other digital channels.
This also led to #O2 also seeing a 52% improvement in costs when acquiring a new customer. The programme was run by its agency partner #Havas in conjunction with #Facebook and its marketing intelligence provider, #VisualIQ.
Visual IQ is a provider of intelligence that helps brands understand marketing performance in combination with the profiles of their customers and prospects. They partnered with Facebook in September 2016 in order to help brands understand the performance of Facebook in combination with other advertising investments
SO HOW DID THEY DO IT?
O2 and Visual IQ integrated un-tracked Facebook ad impressions enabling O2 to measure the value of their Facebook investments in comparison with other digital channels, publishers and placements.This meant that O2 was then able to track customer exposure to their Facebook ads and understand the full effect of their ad spend on their sales, how their ads impacted other media, and how relevant their ads were to their target audience.
With this pilot and its results, O2 became the first brand to gain this kind of insight into its Facebook spend and its relevance to other marketing investments. The pilot also revealed the importance of people-based marketing and its effectiveness. #Peoplebasedmarketing allows a brand to upload their customer lists directly into an advertising platform like Facebook and then target those users across any device with ad's banners e.t.c.
“ AS A BUSINESS, WE UNDERSTAND THE REACH TARGETING AND ENGAGEMENT VALUE OF FACEBOOK, BUT WE ARE PREVIOUSLY UNABLE TO TRACK AND MEASURE ITS EFFECTIVENESS TO THE SAME DEGREE AS OUR OTHER DIGITAL EFFORTS ”
explained Nick Adams, Head of Digital Excellence, Marketing Communications, O2.
“ AS THE FIRST COMPANY TO REALISE RESULTS FROM THE PILOT PROGRAMME, IT'S EXCITING TO SEE EXACTLY HOW OUR ADVERTISING INVESTMENTS IN THE SOCIAL NETWORK IMPACT SALES ”
“ THIS INSIGHT WILL ENABLE US TO MAKE MORE INFORMED PLANNING AND OPTIMISATION DECISIONS ACROSS OUR ENTIRE MARKETING MIX GOING FORWARDS, AND ENSURE OUR ADS ARE EVEN MORE RELEVANT TO PROSPECTS' AND CUSTOMERS' NEEDS. ”
Social networks are a vital component of any brands’ marketing efforts, but there are currently limitations in #measuringsocialmedia and the true impact of this channel. This pilot has enabled O2 to understand the effectiveness of Facebook ads in a way that was never before possible and this knowledge ultimately will have a massive impact on your brand in the future.
For now, there’s no one-size-fits-all method of measuring social media success because goals vary from brand to brand. But you can certainly find ways to measure your current social presence and if you need support to review your fan/social follower base and marketing efforts, you can always consult a Pretty Vicious expert.
#Socialmediamarketing comes under scrutiny often for its effectiveness and performance, so it’s important to know how you’re measuring performance and mastering the metrics that matter. We’ll help you define your key performance indicators (KPIs) for your marketing efforts.
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Until next time...
