How Should Smaller Retailers Approach Social Media In 2014?

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If you’re a small retailer trying to expand your brand online, social media is an absolutely essential part of the plan. But, there are several different popular social media platforms and most smaller retailers don’t have the resources to invest fully in all of the big platforms. How do you choose which one to favor?

Of course, the best choice for your brand depends on what you are offering to consumers and how you are trying to reach out to them. But, you can also take some notes from what the big retailers are doing with their social media, with the help of social technology company 8th Bridge’s third-annual Social Commerce IQ report.

8th Bridge looks at nearly 900 of the top online retail brands, and evaluates their social adoption and subsequent results.

Their results show two things. Firstly, you should implement social website buttons for at least the three major social media platforms for retailers (Pinterest, Twitter, and Facebook). Secondly, and more importantly, Facebook still dominates referral traffic and perceived value. However, the reasons for Facebook’s value to top retailers have changed.

In the past, Facebook has always been favored simply because it was the most popular social media platform by a large margin. However, Facebook has become very competitive, especially for smaller businesses. With so many businesses sharing content on the site, the top retailers have turned to Facebook Exchange to pay for visibility and higher traffic rates.

Facebook is valued by top retailers not because they are the top social platform, but because they have the most viable social advertising platform.

This has the potential for change in the near future however. Facebook has one of the most fully-realized social advertising platforms, and it has been around for significantly longer than the ad options most other platforms offer. For instance, both Pinterest and Instagram are still only in the testing phase for their advertising platforms.

Still, the traffic referral statistics from Twitter may suggest a deeper underlying problem in the social platform’s viability for retailers.

“Traffic from Twitter and Instagram is non-existent for most retailers,” 8th Bridge said in its report. “Only 85 retailers are getting traffic from Twitter and only 55 retailers are getting traffic from Instagram.”

In the end it should come as no surprise that Facebook is still the most reliable social platform for brands of most sizes, but it will only get more competitive. You can still benefit from a non-paid approach to your Facebook presence, but you should expect diminishing returns as time goes on.

You can view the infographic 8th Bridge made from their results below or on their site.

Social Commerce Infographic

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Have We Hit Peak Facebook?

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Source: Wikimedia Commons

Source: Wikimedia Commons

Social media sites have a history of not lasting for very long in the grand scheme of things. Few are even familiar with Friendster these days, and Myspace has had to revamp their entire strategy to cater to musicians. Even then, it is entirely questionable whether the site has had much success since they relaunched. So what makes Facebook different? Is it immune from the quickly passing trends of social media?

The answer depends on who you are asking, of course. While those who have avoided Facebook for years will be quick to tell you the social platform is on its way out, the statistics show that Facebook still absolutely dominates the market, and they are gaining even more ground in older demographics. Teens may not be excited about Facebook anymore, but they are still using the site to connect with their grandmothers, aunts, cousins, and friends who are too far away to interact with.

Facebook’s recent audience growth with older users is also indicative of the larger reason Facebook may be sticking around for quite some time. Everyone is on it. As Phil Buckley recently showed when he did some informal surveys on social media, the majority of Facebook users cite its widespread usage as their main reason for coming back every day.

It can be a tenuous thread holding the site together, but it is fairly reliable. I’ve seen many “quit” Facebook, but they often eventually return due to family or friends.
So, when Phil Buckley says 2013 was the year we reached “peak Facebook”, I have to question it. There have been reports throughout the year that Facebook was losing ground in younger demographics, who are choosing newer and more niche social platforms like Tumblr or SnapChat. Still, Facebook has denied the claims, and the numbers show they are still growing.

As with all social media trends, the only way to find out is just sitting back and letting the will of the public decide. Social media is a fickle field, but I’m still of the belief that Facebook will remain safely in its throne through at least the next year.

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What Can You Expect From Social Media In 2014? Even More Advertising

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social-media-graphicAt midnight tonight the world is stepping into the New Year and social media is already buzzing with excitement. As the hour approaches in every time zone, Twitter, Facebook and Instagram will all be filled with updates from parties and celebrations from around the world. It is an appropriate way to ring in a new year that will almost certainly continue the global domination of social media.

The past year has seen record numbers for the most popular social media platforms of the moment, and even Facebook continues to grow their audience at a regular pace by reaching new demographics who have been hesitant to adapt to the new social age. But, social media could be notable for something new. This year could very possibly be the year ads on social media become a complete part of social media.

Of course, social media ads are far from new. Barely anyone can imagine their Facebook dashboard without the standard ad bar on the right side of the screen. But, the ad platforms used by the biggest social media sites have hit a turning point where they are growing into their own service. Facebook has greatly improved the customization of their ad service this year, and Twitter’s ad platform transformed from a ramshackle affair to a fully realized service. But what they have in store for 2014 looks to be even bigger.

Facebook is already testing a feature which will likely receive a lot of attention next year. It is natural that Facebook would eventually find a way to implement video advertising similar to the TV or YouTube ads we are all accustomed to, and their new video sharing function allows them an easy way to do just that.

As you’ve likely already noticed, Facebook allowed users to more easily share and see videos this year by remodeling the way they display videos in the News Feed. By setting the videos to autoplay silently when they shown on screen, the videos are automatically eye catching, without being intrusive. It sounds like the video ads they are testing follow almost exactly the same format, which is likely to see quick growth should it be implemented.

Meanwhile, John Lee from Search Engine Land recently discussed how Twitter filing for their IPO this year is a solid indicator that you can expect a closer attention to ads in the very near future. Simply put, now that Twitter is beholden to shareholders, there is going to be an increased emphasis on ad revenue and increased outreach.

Facebook and Twitter aren’t the only social media platforms to be increasingly show ads within their site. The more niche platforms such as Instagram and Pinterest have also begun testing ad units within their platform which will bring a whole new style of advertising to social media. Both platforms have strict rules discerning what ads are allowed within their tests, and it seems they are aiming to implement ads while keeping their distinctive style.

To top it all off, 2014 could be the year Google+ finally sees some form of ads. While Google may keep delaying the decision to place advertising within Google+ until they finally find a larger audience, the recent announcement of +Post Ads being tested could be a sign that changes are on the way. +Post Ads are not advertisements themselves, strictly speaking. They are a way for brands to advertise notable Google+ posts across Google, but there is still the lingering question of when ads will actually appear in Google’s flavor of social media.

For brands looking to continue their online growth over the next year, the surge of social media advertising is good news and bad news. Improved advertising platforms offer a better variety of ways to market your brand or products in the most effective ways. But, as Facebook recently admitted, it also means the playing field is beginning to become a bit uneven. Increasing your outreach online may become costly in the future, which could be a deal breaker for many of the smaller businesses currently taking advantage of social media.

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Facebook To Start Testing Video Ads In Your News Feed This Week

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Film Camera

Source: Flickr

One of the most hated forms of internet advertising are videos that auto-play when you open a webpage. You might be surfing the internet, listening to some music, and suddenly the voice from an ad starts clashing with the song or blaring in the middle of a library. Yet these ads are all over the internet and Facebook has decide to make them a part of your News Feed. Are you cringing? Well, don’t worry. They made one important tweak which will make the experience much less annoying.

The social media giant announced today that they will begin testing News Feed video ads that auto-play when you scroll over them. The testing is going to be for a limited number of accounts during the test, but the ads will be very similar to the way user videos are shown in the feed. Search Engine Journal notes that Facebook began recrafting their video experience in September, making changes to make the experience more similar to Instagram. All you have to do is scroll past the video and it begins playing without a single click.

So what keeps these videos from being a huge annoyance? The videos don’t have sound unless you click to unmute it or expand the video you want to see. Facebook is keeping this functionality for their ads, so user experience won’t be disrupted by the tidal wave of ads playing over each other as you scroll down your feed. You can also bet advertisers will be crafting their ads around this functionality.

Facebook explained they don’t intend this format to be used for every video ad, and it is entirely different from promoting a post with a video in it. From their announcement:

This premium feature is specifically designed for awareness campaigns that are meant to reach a large number of people to increase interest in a brand, product or content, in a short period of time. Page post video ads can then come into play to sustain the message of this initial campaign over longer time periods, in more targeted ways.

Currently, the video ad units will only be shown from a limited number of individuals and pages, such as sports organizations or entertainers. Facebook also heavily stressed that the ads are currently only a test and the brand will make long term decisions based on what is learned from the test.

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Facebook Says They Aren’t Targeting Memes, Instead They Judge Quality By The Source

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Facebook MemeWhen the news broke of Facebook’s updates to their News Feed, advertisers everywhere scrambled to analyze the changes. Well, it appears we got it a bit wrong. One of the most reported elements of the updates aimed at “rewarding high-quality content” focused on the supposed removal of memes from user feeds, but it doesn’t appear that is actually the case.

Facebook really is revamping how they judge the quality of the content they deliver to users, but Facebook’s News Feed Manager Lars Backman gave some insight to the changes and denies there is an attack on memes during a recent interview with AllThingsD. Instead, Backman says it is a broader effort “to provide user value” in the News Feed.

The most interesting aspect of the interview actually says Facebook isn’t differentiating different forms of content for the most part. As Backman told Peter Kafka:

Are you paying attention to the source of the content? Or is it solely the type of content?

Right now, it’s mostly oriented around the source. As we refine our approaches, we’ll start distinguishing more and more between different types of content. But, for right now, when we think about how we identify “high quality,” it’s mostly at the source level.

So something that comes from publisher X, you might consider high quality, and if it comes from publisher Y, it’s low quality?

Yes.

However, while this sums up Facebook’s approach overall, Backman did say there is a specific type of content they are trying to do away with, but it isn’t memes. Instead, Facebook is attacking the types of content that blatantly begs for likes or shares, such as Like this if you are having a good day!

So, when the text or photo has a call to action, those posts naturally do much better. And in a traditional feed ranking, where we’re evaluating just on the number of likes, those things all did very well.

In a way, Facebook is simply leveling the playing field, because those types of content offered very little to users aside from surface level interaction, but they were consistently doing very well on likes and shares which were making them more visible. However, if your user base responds well to the average meme, you shouldn’t be afraid to use them as a part of your content.

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What Does Facebook’s New Meme Policy Mean For Marketers?

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No More MemesYesterday Facebook announced some pretty major changed to their News Feed. Specifically, clicking an article may not show up to three related articles, and new comments on a story you’ve already seen can “bump” that story back into your feed as it is made relevant again. Lastly, they are going to begin policing the “meme” content to an extent, especially on mobile.

While the first two changes have received significantly more attention by marketers, the new meme policy will likely have the biggest immediate impact for companies still using the image marketing practices widely preached just a year ago.

Image marketing on Facebook refers to the practice of sharing content by posting a picture with a link in the comment, rather than using the more standard link post. This lead to many marketers using lighthearted and sometimes confusing memes while underhandedly also sharing their content. This type of practice has been slowly being dismantled for the past few months, ever since Facebook changed how prominently Link posts were shown in the News Feed. Before that update, image posts were shown with much more prominent display size, so it was a ripe target for abuse.

Now that Facebook is targeting memes it is pretty clear that the old image marketing practices are outdated and it makes more sense to simply follow the more common link marketing practices. Not only is it a more honest approach to serving content to your visitors, but Facebook is going to show you favor.

As Greg Finn from Marketing Land explains, Facebook has gone “all in” regarding turning their social media platform into a more focused news source. A recent study has shown that 1 out of 3 Americans now use Facebook as a news source, and Facebook seems determined to put a heavy emphasis on that mode of usage for their site. Looking forward, the only way to stay ahead of their changes is to focus on delivering your audience the best quality content you can create.

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Paid Ads Perform Better When Combined With Social Ads

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Marketing has become a holistic practice. You can’t just focus on one channel and expect to have the impact that those who are using every method to connect with the public are getting. For online marketing this means you can’t rely on just SEO or PPC to get the visibility you want. A new study from the digital marketing tech company Kenshoo proves this point by showing that marketers using social advertising and paid ads together see better conversion rates than those who only use a single channel.

In what Search Engine Watch reports to be the first study of its kind, Kenshoo discovered that when a person was exposed to both a brand’s Facebook ads and paid search ads, there was a 30 percent more return on advertising spending than when a person was only exposed to paid search ads exclusively.

“The fact that Facebook advertising on its own during this study was declared a successful initiative and had such a strong impact on paid search is indicative of the power of the platform,” Kenshoo said in its report.

Kenshoo PPC and Social Ads Report

“If marketers only had one Key Performance Indicator (KPI) to compare media channels, the metric of choice would be ROAS [return on ad spend], which is calculated as Revenue/Cost. For example, if an advertiser spent $20 and generated $100 in sales it had a 5x ROAS. Even media with different conversion goals can be easily evaluated based on how much it returned versus how much it spent.”

Kenshoo also noted that click-through rate improved along with returns on ad spending. Paid ads saw a 7 percent increase in CTRs when a person had seen both Facebook and PPC ads, “indicating that social advertising was able to positively impact consumer awareness and perception of the brand.”

When combined, search and social advertising also resulted in 4.5 percent lower cost per acquisition, according to Kenshoo.

“On the surface, 4.5 percent may not seem significant when compared to some of the other high numbers reported in this study,” Kenshoo said, “yet ask any advertiser if they could lower their costs to bring in orders by this amount and they would all jump at the opportunity.”

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The Growth of Social Media: Updated [Infographic]

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Just a few years ago it would have been impossible to imagine how much social media has grown and become a part of our lives. Even during the heyday of Myspace and the rise of Facebook, no one could have predicted the sheer number of social media apps and websites available and popular these days. We tweet out our random thoughts, we Instagram our pictures, and using the right social media platform for your market can even help you get a job.

The big news is that social media is not slowing down. With the app store flooded by social media apps, you would think their popularity would begin to wane, but social media continues to grow in just about every market. It isn’t a fad. Social media is a part of our lives.

Just over 2 years ago Search Engine Journal published an infographic called the Growth of Social Media. Looking at the infographic now is practically nostalgic as it lists tons of platforms that have fallen entirely off the map, and it reminds us how quickly Pinterest, Reddit, and all the current sites flourished. But, the graphic is woefully out of date.

That is why SEJ decided to update their graphic to reflect the state of social media today. No surprise, the numbers are even better now than they were before. You can see version 2.0 of The Growth of Social Media below, and the original version is still available at their site.

Growth of Social Media Infographic

 

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Facebook Rolls Out Custom Audiences To All Advertisers

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Facebook advertisers using the social platform’s API and Power Editor tool have had access to their Custom Audiences ad targeting tool for a short time. But, many advertisers have yet to get access to the targeting tool until now.

Starting yesterday, Facebook will has begun rolling out the ad targeting tool to a limited number of US advertisers, with a global roll-out beginning next week. Amy Gesenhues says all advertisers around the world can expect to see the feature by late November.

This is especially of interest to small businesses who will be able to use their own customers lists to directly reach out to people on Facebook. You will also be able to use MailChimp lists with Custom Audiences for the first time.

Facebook already claims thousands of advertisers are using Custom Audiences, but this will open the door for countless other advertisers to access the feature via Facebook’s ad interface. You will even be able to access the feature from Facebook’s mobile app, assuming you have already uploaded your contacts.

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Facebook Announces New Retargeting Abilities

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Advertisers on Facebook won’t have to go through demand-side platforms (DSPs) to manage their retargeting campaigns for much longer. According to Search Engine Watch, Facebook is creating new retargeting options that won’t force you to go through FBX (Facebook Ad Exchange) or any other platform other than Facebook’s own interface.

Up until now, Advertisers using FBX have only been able to serve their ads on desktops within the news feed or right sidebar and they must buy their ad space through separate DSPs. Considering how many Facebook users are accessing the social media platform via smartphones or tablets, it is surprising it has taken this long for Facebook to allow advertisers to target individuals on mobile devices.

What’s New?

The big new feature will be Custom Audiences, which will allow advertisers to set up their retargeting campaigns directly through Facebook’s interface. That will include the ability to overlay standard Facebook targeting options as well.

The ability to target mobile devices is of course another huge aspect of this update, as it is undeniable a remarkable percentage of Facebook users are primarily using mobile devices for social media.

What is FBX Still Better At?

FBX still has benefits over the options that will be available through the Facebook interface. Most important of those benefits is predictive buying. If an individual continuously browses for a certain product of type of service, FBX’s predictive buying capabilities allow advertisers to show an ad reflecting that interest.

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