September 21, 2017 - by Ginna Hall, Senior Writer, Visual IQ
In 2009, there weren’t many brands using social media. Early adopters had an open playing field and a head start on success. Today, most businesses have multiple social accounts and have leaped into the conversation in a way we couldn’t have imagined before.
Of all the social networks, Facebook is the big kahuna, with two billion monthly users. This makes Facebook the largest social app, above YouTube’s 1.5 billion, WeChat’s 889 million, Twitter’s 328 million and Snapchat’s estimated 255 million.
But the marketing landscape has changed since 2009. It’s no longer possible to use Facebook the way we did in its early days. Back then, you could post content and expect that most of your followers would see it. The reality is that paid social advertising now is the only way to make sure we’re reaching the audiences we care about.
“Visual IQ’s partnership with Facebook was the key to proving the platform’s true value and how it can complement other channels and tactics to drive sales and other desired business outcomes.”
Thanks to the scale and depth of information it has on each user, Facebook can help marketers deliver contextually relevant ads across devices that engage each individual. This makes Facebook advertising essential for most brands. In fact, 84% of marketers want to learn more about Facebook advertising.
Integrating Facebook Impression Data
Until recently, Facebook’s third-party tracking limitations prevented brands from accessing its vast stores of impression data. This lack of transparency limited marketers’ ability to understand how Facebook performed in combination with other marketing and media investments and make informed budget optimization decisions within and across channels.
This restriction was lifted when Facebook announced measurement partnerships with select third-party vendors, including Visual IQ. This integration enables marketers to understand the performance of Facebook in relation to other advertising investments in ways that weren’t possible before.
By combining Facebook’s people-based insights with the multi-touch attribution capabilities within the Visual IQ platform, marketers can now quantify the true effectiveness and ROI of their Facebook spend, and understand how the social platform works in combination with other channels and tactics to drive specific KPIs for each type of audience.
Measuring the True Impact of Facebook
Leading telecommunications company O2 is already realizing the benefits of such an approach. Last week at DMEXCO 2017, O2 Head of Social Media Kristian Lorenzon and Visual IQ CEO and Founder Manu Mathew described how O2 (Telefónica UK) and its agency partner, Havas were able to uncover the true impact of Facebook advertising.
Leveraging Visual IQ’s platform to track consumer exposure to Facebook ads, including Custom Audience placements, the team was able to eliminate blind spots for a holistic, end-to-end view of all the marketing and advertising touchpoints that impact the consumer journey.
As a result, O2 and Havas were able to track the value of their Facebook investments down to the granular level relative to other channels, publishers and placements for the first time.
O2 learned that Facebook was a key component of their marketing and media strategy. When Facebook Custom Audience placements were used in combination with other digital channels, such as affiliates, paid social and paid search, O2 saw:
“Facebook has been one of the most talked about channels the past few years for its seemingly unlimited potential. But limitations in tracking our full media investments on Facebook made it difficult to demonstrate the actual value of the channel. Visual IQ’s partnership with Facebook was the key to proving the platform’s true value and how it can complement other channels and tactics to drive sales and other desired business outcomes,” said James Olney, Senior Business Analyst, Havas Media Group.
Tracking the Facebook Touchpoint
The lesson is clear. To know Facebook advertising’s true impact on your marketing KPIs, brands need an accurate view that integrates these user-level touchpoints.
By tracking consumer exposure to Facebook ads and applying multi-touch attribution measurement across the complete consumer journey, marketers can not only uncover the true value of their Facebook investments, but also gain the deeper level of intelligence needed to optimize budgets and deliver relevant consumer experiences that drive meaningful business results.