Published: 23 July 2014
So over the past month we have been running a Facebook Ads (PPC based) campaign to promote a new UK product launch for a multi-national client. The campaign was divided into two specific strategies, firstly, promote the brand and connect with the key audience and secondly, encourage Facebookers to take up a pre-sales promotional offer and share it with their friends. Each of these strategies then led to a number of targeted ad groups and variant messages.
Facebook, as a channel, was selected as we felt the community structure aligned perfectly with the brand community we were starting to build. Using Facebooks Ad platform we were able to target female v male, age brackets which are more likely to yield target audience and interests which align with the product. Ad wording and creative were then created in keeping with the different demographics. So far, so facebook ads. So why is this blog worthy?
Well, really, because of the response. This was a pilot with a fairly tight daily budget and a one off management/set-up fee which was only to run for three weeks in June. What was achieved exceeded all expectations by me, someone who uses Facebook Ads a lot, and by the client.
In marketing speak, we achieved a Cost Per Acquisition of Brand Followers of less than 50p and the take up of the pre-sales offer has more than paid for the campaign from the net profit margin in the products ordered. The pre-sales offer is important but the Followers acquisition is the bit that excited me the most.
In this digital age, we’re inundated with messages encouraging us to ‘Sign Up for our Newsletter’, ‘Like our Facebook Page’ or ‘Follow Us on Twitter’ and what is often overlooked in these situations is The Value and, more importantly, ‘The Value Exchange’.
If you go into a shop and take something, it’s theft. Obvious right and that’s because we appreciate that we can’t take things from shops that we haven’t paid for. We have to earn the cash to buy the things we need and desire. To brands and marketers, user data, loyalty and advocacy are like currency – something that we need and want but have to earn. Consequently, the best user programs are the ones that recognise that in every user data exchange there must be value for both parties - you want my email and that’s fine but I need to know that I will get something back – this is the essence of The Value Exchange.
Coming back to our Facebook triumph, we know that this was built on a simple value exchange – if we wanted something we had to give something to get it. The Cost Per Acquisition in this example was the price of facilitating that exchange and this is easily quantified. The result of this approach is a happy client who has spent relatively little and now has 150% more Facebook followers then they did 3 weeks ago – and in my opinion, you can’t put a value on a happy client.