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Mediabistro Events
Launch a social media campaign that will build your brand and deliver results in our online Social Media Marketing Boot Camp starting June 7. Speakers include Abigail Cusick (Bravo Digital), Gregory Galant (Sawhorse Media), Alex Leo (Thomson Reuters Digital), Jim Tobin (Ignite Social Media), and many more. Read the reviews.
Use Social Media to Market Your Business
Launch a social media campaign that will build your brand and deliver results in our online Social Media Marketing Boot Camp starting June 7. Speakers include Abigail Cusick (Bravo Digital), Gregory Galant (Sawhorse Media), Alex Leo (Thomson Reuters Digital), Jim Tobin (Ignite Social Media), and many more. Read the reviews. Want More “Likes” on Facebook? Survey Says Coupons are the #1 Marketing Strategy
How can brands and businesses grow their online likability? The answer may be more simple than you think
Minimizing Your Facebook Ad CPC Bid Prices by Avoiding Bid Competition
The following is an excerpt of entry in our Facebook Marketing Bible. The full version contains examples of how advertiser competition raises bid prices, and more strategies for when to pause or change the targeting of your campaigns to minimize your cost per click.
When running ads on Facebook, advertisers need to think about more than just creative and targeting to achieve optimal performance at the lowest cost. By avoiding periods of high advertiser competition, the same performance can be achieved for lower bid prices.
Since Facebook has a limited supply of users that can be advertised to, it uses a marketplace system where the advertisers who bid the highest for a click from a certain demographic have their ads shown. To reach targets for the lowest cost per click, advertisers should consider running ads when bidding competition from other advertisers is low.
Here we’ll discuss strategies for maximizing advertising performance through strategic timing, and back up them up with data from AdParlor, a company that helps some of the largest brands and game developers buy ads through the Facebook Ads API.
Avoiding Bid Competition
All advertisers on Facebook compete with each other to reach users, whether they’re targeting wide sets of demographics or specific niches. When more advertisers are trying to reach the same audience, the bid price required to secure impressions rises.
Facebook helps you gauge the overall supply and demand in the marketplace by providing “suggested bid” data. When suggested bid prices rise, that often means there’s more competition for the audience you’re targeting.
Ads API service AdParlor, which manages over 15 billion Facebook ad impressions a month and has provided us with reliable data on cost per click rates in the past, tracked the suggested bids Facebook provided across thousands of ads it ran each day. It compiled the data into this graph which illustrates how fluctuations in supply and demand influence the bid price necessary to attain impressions.
Near the end of the chart during early to mid August you can see a spike that’s likely due to advertisers running large “back-to-school” ad campaigns and therefore competing with each other for demographics such as teens, college students, and moms.
Minimizing Your CPC Bids
You can use an understanding of Facebook ad market dynamics to minimize the bids necessary for your ads to reach their intended audience. If your ad campaign isn’t urgent, consider pausing campaigns during seasons of peak advertising competitions such as just before the major winter gifting holidays, as well as back-to-school, Halloween, and Mother’s Day.
By closely monitoring your suggested bid prices, determining when prices are low enough to achieve a positive ROI, and pausing or shifting the targeting of your campaigns when bid prices peak, you can protect yourself from having market forces waste your advertising budget.
The full version of this article, complete with examples, and more strategies for reducing your CPC can be found in the Facebook Marketing Bible, Inside Network’s complete guide to marketing and advertising through Facebook.
[Thanks to AdParlor for the data]
Integrated Facebook Marketing: Combining Pages, Apps, Ads and Sponsored Stories to Gain Fans
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The following is an excerpt of the first entry in a series on integrated Facebook marketing campaigns. The full version, available in our Facebook Marketing Bible, contains more detailed strategy and walk-throughs for each step of the campaign.
Businesses can market themselves by separately using Facebook Page posts, applications, traditional Facebook ads, and Facebook’s new social ad unit Sponsored Stories. For maximum impact, though, they can be combined to run “integrated marketing campaigns” designed to get users to take an action such as Liking your Page that benefits your business and triggers additional exposure for your Page through news feed stories and Sponsored Stories.
Here we’ll walk-through how to execute an integrated Facebook marketing campaign aimed at gaining Likes for your Page.
Introduction to Integrated Marketing Campaigns
The goal of Integrated Facebook Marketing campaigns is take advantage of all of Facebook’s marketing products and channels at once to gain the most conversions on a call to action at the lowest possible cost. These campaigns use paid and owned marketing channels to drive earned exposure.
- Owned – Your Facebook Page, which can post to the news feeds of fans and host applications
- Paid – Facebook Ads, both traditional ads, as well as Sponsored Stories that require a user action to trigger them
- Earned – News feed exposure, triggered when a user takes certain types of actions.
Integrated Page Like Campaign Walk-Through
1. Set up a Like-Gated landing tab
First, you’ll set up a special landing page tab application on your Facebook Page that encourages users to Like your Page. The tab should be Like-gated tab, meaning users who haven’t Liked your Page are shown one screen and those who have are shown another screen.
Those who haven’t Liked your Page should see a landing page explaining that if they Like your Page now, they’ll gain access to something valuable, such as a coupon or discount, the opportunity to enter a contest, exclusive video or photo content, or a fans-only application or game. Vividly describe or preview the content or opportunity — make it sound valuable enough to users that it’s worth exchanging access to their news feed for.
2. Promote Your Landing Tab with Shares, Page Posts, and Ads
Landing Tab Shares
Once users Like your Page from your landing tab, completing the Like-gate, show them a new version of the the landing tab thanking them, providing the promised content, and encouraging them to share with their Facebook friends a link to your landing tab and news of what they’ve gained. By getting them to share, you’ll drive traffic to your Like-gate from the friends of your new fans.
3. Run Page Like Sponsored Stories Ads
All the previous steps have been designed to get users to Like your Page, which triggers a news feed story that appears to the friends of your new fans. These stories are compelling and drive more traffic to your Page, but often aren’t shown prominently in the news feed.
Therefore, you’ll want to buy Sponsored Stories ads that convert these news feed stories into ads, amplifying the initial news feed story. Specifically, Page Like Sponsored Stories ads will appear to the friends of users who recently Liked your Page and encourage them to do the same.
The full version of this article, complete with more strategy, step-by-step walk-throughs, and instructions for promoting your landing tab with Page posts and ads can be found in the Facebook Marketing Bible, Inside Network’s complete guide to marketing and advertising through Facebook. Future installments of our series on integrated Facebook marketing will look at campaigns aimed at driving app usage and checkins.
Is Facebook Really a Good Lead Cultivation Environment?
Hey marketers: is Facebook finally good for something?
The Facebook Marketing Bible June 2011 Edition Is Out
Thanks to our new partnership with the Inside Network, we’re now able to present you with harder-hitting data and reports. 
As an example, the June 2011 edition of the Facebook Marketing Bible: The Comprehensive Guide to Market Your Brand, Company, Product, or Service Inside Facebook is now available.
Share Virtual Beers with Guinness' Facebook App
Media Mad Men at Guinness engage with social media for St. Patrick’s Day ad campaign.
