Even though Facebook posted an expectations beating third quarter of 2015, reporting $4.5 billion in revenue, it was the comments of COO Sheryl Sandberg that provided more interest and intrigue.
Along with the news that Facebook now has one billion daily users and eight billion daily video views, Sandberg also shed light on some other areas of the business, which brands and marketers using the social network could find very interesting indeed.
Facebook and Instagram capable of incredible mobile reach
According to Sandberg, average American adults now spend 25 per cent of their media time on mobile devices. But what’s even more astonishing is that 20 per cent of this time is spent on either Facebook or Instagram. So, with Instagram ads now available to buy through Facebook self-service platforms, businesses have a direct route to an extensive mobile audience.
“Businesses are lagging behind consumers in making this shift to mobile, and we believe we’re well positioned to help them catch up,” she said. “Facebook Pages are already the mobile solution for millions of businesses. Pages now offer better messaging capabilities, call-to-action buttons and news sections that enable businesses to highlight important information.”
More and more businesses are utilising videos on Facebook
Seeing as video views on Facebook have doubled since April, this is yet another opportunity for businesses to get their content in front of the eyes of consumers. In fact, some 1.5 million small businesses posted videos (both organic and paid) in September. This is a trend that larger enterprises have also taken advantage of to improve the effectiveness of their TV campaigns.
By using video and other Facebook ads for one of its campaigns, car manufacturer GMC achieved a 13-point lift in ad recall and a six-point lift in brand favourability. “Video on Facebook gives marketers not just mass reach, but better cross-device targeting and measurement than we believe is available on any other platform,” Sandberg noted.
Dynamic Product Ads are a viable alternative to paid search
Launched in February, Facebook’s Dynamic Products Ads give brands the ability to load their product catalogues into the social network’s ad environment. While Sandberg did not reveal any specific data relating to its success so far, she said two companies were seeing high ROI comparable to paid search. Marriot has been re-targeting travellers based on their previous search habits, while Latin American e-commerce store MercadoLibre is re-marketing more than 38 million products in 13 countries.
Creative approaches to advertising pay off
Sandberg also provided greater insight into IKEA’s creative approach to boosting online sales when its retail outlets are closed. By publishing carousel ads in Norway outside of trading hours, IKEA turned a $35,000 investment into $2 million in sales. “That’s a direct response ad buy because it’s very specific carousel ads product but it’s also a brand play for them as they strengthen their brand and get people to interact with them as they want them to,” said Sandberg.