Facebook Video Ad Spends Rising
The third quarter of 2015 marked the first time spending on Facebook video ad spending topped spending on photo ads, according to SocialCode, a Facebook Marketing Partner.
SocialCode attributed the surge in Facebook video advertising by its clients to the social network’s introduction of target rating point buying for video ads, which enables advertisers to buy Facebook ads much in the same way they purchase spots on television.
The company found that Facebook video ad spending accounted for 29% of its clients’ Facebook ad spending in the third quarter, up from 23% in the second quarter of 2015 and from 14 percent in the third quarter of 2014.SocialCode added that advertisers spent 206% more on Facebook video ads during the first three quarters of 2015 than during the same period in 2014.
It’s been proven many times over, regardless of what industry you are in, marketing videos are valuable at each stage of the buying cycle.
Stage 1: You Get Me
The purpose of this stage is establishing empathy with the buyer, showing you know what they’re going through. Useful videos include educational series, thought leadership pieces, curated lists, and promotional clips.
Stage 2: Decision Criteria
At this stage you want the customer to have a meaningful interaction with your brand. Create a newsletter, influencer series, on-demand webinar, or product tour to get shoppers involved in a more meaningful way. Customer testimonials are also persuasive.
Stage 3: Assess Buying Options
Once your buyer is interested, use video to show key differentiators between your brand and the competition. Explainer videos, FAQs, meet-the-team tours, and case studies all help show critical differences in your brand’s value.
Stage 4: Rationalize or Justify Purchase
Just because the shopper has made a purchase doesn’t mean the journey is over. Now is the time to provide a little extra to create brand loyalty. Create training and how-to videos, and show passionate brand advocates. Promote user-generated content and make video product user guides.
Massive Potential Awaits Canadian Advertisers With Facebook Video Ads
Canada loves it’s internet… and it’s social media. In fact, Canada was one of the first countries to fall head over heels for Facebook, and now, more Canadians log into Facebook every day than anywhere else in the world.
As a business owner, if you’re not reading this and immediately making the connection between where people are and where you should be… you should be.
What else is key to know? Facebook loves, loves, LOVES video content. Facebook video ads can be posted, watched, shared and engaged with, right within the platform. Facebook has watched this digital consumption evolution, and the social network is starting to further emphasize video’s importance and potential with Facebook Video Ads.
Facebook says it averages a billion video views every single day, with 2/3 watched via mobile. Facebook video views increased 50% between May through July 2014.
To highlight this milestone, Facebook said this week it’s going to start showing video view counts, offer deeper video analytics for publishers and will recommend additional videos to watch after you’ve seen one… all tweaks to increase Facebook Video Ad consumption by the public, and make the use of video more attractive to businesses.
All of this means even more potential for businesses and brands that use video in their marketing and advertising efforts… and highlights expansion in the digital video space beyond video giant YouTube.
Even Beyonce agrees.
Queen Bey’s Management Company said that Facebook has ‘become the primary platform’ they use to communicate with fans. This comes on the heels of a behind-the-scenes video released via both Facebook and YouTube last summer.
Beyonce’s Facebook video earned 2.4M views in a few hours while YouTube’s views trickled in by comparison, earning just a few thousand.
Why is this? Fans spotted the video, watched it, and then shared it with their friends… increasing it’s exposure via Facebook news feeds.
Facebook Video Ads also present massive potential for Facebook as a business (it also just bought video adtech company LiveRail for somewhere between $4-500M in July) but also for business owners. It’s an amazing way to get a message across and provides a more immersive experience vs static status updates and photo posts. This also goes for the success rates of graphic Facebook Ads vs Facebook Advertising that utilizes video. Video is the most powerful medium available today.
All of this could further convince advertisers who love the video aspect of television and the social aspect of Facebook… their money may be better spent on social video – and Facebook Video Ads might be a great place to start.
If you’re a business owner already using online video to promote or advertise your business, congratulations. You’re ahead of the curve. But if you haven’t yet considered using video to broadcast your brand, you’re missing out. Why? Because using online video will not only improve your search engine rankings and provide an effective marketing tool available to a worldwide audience, but also leave a lasting impression on potential customers and increase your sales.
Here are five things to keep in mind when using online video for your business:
1. Tell a story. One of the buzzwords characterizing the shift away from pure selling is ‘storytelling.’ In Carmine Gallo’s The Presentation Secrets of Steve Jobs, she says, “the single most important thing to dramatically improve your presentation is to have a story to tell.” With online video, story-driven videos are becoming more and more popular simply because they’re effective; in fact, videos that engage viewers with a story are more likely to be shared, liked and commented on. Consider it an opportunity to visually recount your story and show potential customers something they wouldn’t be able to see anywhere else.
2. Get personal. If you’re a quirky business owner or your company has a killer corporate culture, let it shine. Standing out means being yourself, and highlighting what differentiates your business from others. And although speaking to a lens can be unnerving for newcomers, you’ll come across more naturally if the videographer asks you questions, rather than having you deliver hard line.
3. Boost views and conversions with clear calls to action . Effective online video educates and entertains, but what you also want to make sure it does is inspires the viewer to act. If your online video campaign is more about branding, make sure you include a clear call to action; whether it be visit your website and store, call a phone number, buy now or connect with you on social media. Before this, however, you want to make sure your video gets played in the first place. A recent study shows that using active calls to actions like ‘Click to Play,’ or ‘Learn More,’ can increase a video’s view rate by 12 times over passive labels like ‘Video’ or ‘Video Here.’
4. Go pro. While many business owners produce their first videos themselves, based on thousands of client experiences, it’s likely you’re going to pay a professional to re-do it once you realize it’s lacking narrative and polish. Save yourself the time and added cost, and work with professionals from the very start. Online video is arguably the best marketing tool at your disposal, and the ROI is unquestionable. Bottom line: just because you could do it yourself or hire an amateur, doesn’t mean you should. Has it been successfully done before? Sure, but it’s rare and usually because the personalities in the videos are bigger than the distraction that bad video is. Consider your video your first point of contact with your prospective client. Would you want that to be anything less than the quality and professionalism your business represents?
5. Share-ability and engagement. Videos shared via social media are consumed more than text-based updates, which means there is more potential for a company’s message to be shared and seen via these platforms. “Consumers are more likely to enjoy a brand video and remember the brand involved if they come across it because of a social media recommendation,” according to a recent report . So when you make the move into video for your business, make sure you keep your potential ‘social’ audience in mind.
A number of studies have come to the same conclusion: online videos help businesses sell to affluent consumers. Internet Retailer states, “those who view a video are 144 per cent more likely to place that item in a shopping cart. 52 per cent say watching video makes them more confident about their purchasing decisions.” One more stat if you still need to be convinced: comScore reports, “consumers who watch a video are 64 per cent more likely to make a purchase than those who don’t.”
What are you waiting for? Consumers are ready and waiting to click play on your business’s video content.
Lisa Ostrikoff is a TV journalist and anchor-turned-creator of BizBOXTV, a Canadian online video production, advertising and social media marketing agency.