Do you sell over social networks and why not?
Digital marketing is dynamic, hallelujah, constantly setting new standards and challenges. A lot of things are happening; the changes are made every day. That is the thing that drives us and for which we love this job. It boosts our energy, it raises our adrenaline and achievement of the goals of our clients makes us happy.
We don’t know if you know, but most changes in marketing are currently occurring in advertising. Yes, advertising, promotion, boosting… This is the typical situation in client-agency relation, which is described by the client with the following monologue: We will do this easily! Put a couple of Euros on the boost, target by the age and location, you will get a certain reach, some interaction.
What? Everybody can do it!
We do not need a particular person or sector for that, or, God forbid that an agency does it and takes a commission for that. Shame on them!
While on the agency side, it often looks like this: Give us an approved monthly content plan so we can schedule all of that to promotion for the whole month. Weekends or evenings – we do not work then…
When we merge these two poles of the same story, as a result, we get – nothing! Except for the total budget spent. Nothing will happen; the goal will not be fulfilled. The sale will not happen. We have people who are frustrated with the results of the campaign and therefore, they start to make conspiracy theories that Facebook steals money from the users, how the likes and clicks are fake, and so on.
Is Facebook advertising, which is most popular nowadays, throwing money?
In order to get the answer, we need to ask ourselves what performance marketing is. We know, people talk about that pretty much lately. Exactly, there is much to talk about, but not much practice. More-less, it is like teenage sex, we all talked about it in those years, but just few of us really had it. It is similarly in advertising; they tell you that this is some new Holy Grail and whatever in the circles of advertisers, while it is very questionable how much and with what effects are being implemented in practice.
Since hopefully, we have resolved this dilemma, let’s deal with past, present, and future of this segment of marketing. It would be wise if we sell something to a client, to put it in a practice as well.
As we have already said, the social network advertising platform is continuously improving, and the machine (not to mention the algorithm) looks at what we do, follow, like, share; it follows us in the footstep… The machine learns about us continuously and sells that information to advertisers. They say that after a certain number of posts on social networks, the machine learns about us everything that we know about ourselves, a then, very quickly, even those things we don’t know about ourselves. It is even told that in the near future, with over 90% accuracy, the machine will be able to predict what will happen to us in the future. Many would say that it is pretty spooky.
All of this is supported by great platforms for placing content like Facebook and Instagram shops, collections, catalogs, carousels, and canvas. Sales funnel, remarketing, dynamic remarketing, conversions come to light and create the perfect whole of content making and proper placing of the content to the relevant target group, again segmented by different intersections of interests and behavior on social networks.
Okay, we come to the essence. We want to turn the machine and all of these tools to our advantage. That it works for us! But how?
Facebook says that setting up website click or interaction ads are becoming a complete waste of money! Why? Because in that case, the algorithm looks at those profiles that are highly likely to click on an ad or like a post. It is absolutely irrelevant what happened before or what will happen after. Watch this video to better understand how the algorithm works:
And how not to waste money?
So, the game is on, where the main goal is ‘business goal’ of the client. The advertisements are created which goal is particular conversion (e.g. sales), and placed on the website and linked to the ads managers. The machine learns on our actual conversion, improves the performance of the campaign with data from specific customers, directly affects the income and ROI. Wow!
Marketing agencies (should) completely change their focus and business description. We have to go, and some of us are doing it, towards selling and actual results of our companies. This is not at all easy; it requires focus, expertise, and experience. It involves measurement, analytics, and dedication to the details.
Who gets into these waters, again led by qualitative agency or team that is focused on performance, would be able to sell on social networks. Let’s go then a step back to think about our ultimate goal and subgroup of goals that are on our way to it. These indicators are not related to Facebook metrics. They only matter as a parameter in the first parts of the sales funnel. Key indicators that are related to goals are set at the bottom, at the very bottom of the sales funnel which must contain a business goal.
It is extremely important to mention that Facebook has a special relationship with partner agencies. There is a possibility of raising the level of service that includes special support and ‘onboarding’ process from their side. Furthermore, we also have the opportunity of being educated and helped in creating campaigns from Facebook itself, which has been a thought noun by now. True, this only applies to partner agencies. So please pay attention when choosing an agency or people for advertising, whether they will be able to provide you with that service and what that service includes.