Facebook Marketing Trends of 2017

This might be not be news to some, but Facebook is currently the best platform for advertisers at the moment, provided they understand all the latest updates and features. While it is true that some of these new features provide better reach to consumers, finding what works best for you might take some time. Take this for example, the video ads and lead ads on Instagram require continuous testing as there is a continuous development process undertaken by Facebook.

Cut Throat Competition

In the last year, advertisers spent around $17 billion on Facebook ads. Since the user base and target audience are also increasing in number for the social media giant, the ad auction prices are proportionality following suit. Despite all the growth (Facebook grew by 48.6 percent in comparison to Google’s 13 percent), Google still retains the top spot in terms of revenue. To this this whole situation into perspective, Facebook is very much leading and might topple Google soon enough. Although $17 billion is only 3% of global advertising expenditure, a continuous flow of this output should see Facebook rise to the top. Results wise too, Facebook manages to topple every other media network. This shouldn't really come as a surprise though, thanks to its unparalleled reach and other mergers.

Mobile Computing Is The Future

Since the last 5 years, the switch from desktop to mobile devices has been dramatic and drastic at the same time. It is hard to find someone who actually still logs in through a desktop. Clearly, mobile devices are the future - and Facebook have realized this too. All of their ads are formatted and optimized for mobile users. In fact, they were the first ones to view Facebook ads. So how do the conversions stack up here? There is one decisive factor for all advertisers. Once a user clicks on your banner, you have to make sure that they are transported to a nice and clean landing page. A bad one will just shoo them away. For the very first time, the mobile ad spend will be way bigger than the desktop ad spend in 2016, according to eMarketer. This gap will only continue to grow as time passes.

Separating Yourself From The Sheep

Since Facebook is releasing newer features on a day to day basis, it would only make sense to utilize these features as soon as possible to stay relevant and ahead of the competition. Aim to be the first one to use video ads, canvas ads and local awareness ads etc. Another important point is to make use of the dynamic retargeting and cross selling techniques. Your competitors are not far behind from putting them to use, so now might be an ideal time to try your luck. If you do not have your own set of data scientists at the office, try the automatic A/B testing optimization feature to get your best performing variations instantly. Lastly, Facebook has also updated its tracking pixel technology that allows better user tracking. Its also easier to set up. I seriously recommend that you try this, even if you do not have any plans of advertising on Facebook.

E-Commerce And Travel Raking In Profits Through Cross-Selling and Upselling

If you are looking to increase the lifetime value of your customers, then cross-selling is tailor made for you. It works in a very simple way. When a customer purchases a specific product, you can try pitching him with another item from another product set. It basically works like this. A smartphone user might be done with his purchase once he purchases that new iPhone, but he still might be interested in getting a brand new TV. Here is an example - for a consumer who has bought a gaming console, you can pitch in with a Samsung TV.

Another way to sell more is through upselling. If your audience views an HDTV, then your advertisers could instead showcase a brand new 4K display from the same manufacturer for better profitability. Upselling basically works on the effort to move a particular prospect from his current product to another product of a higher range within the same product set.

The real benefits of Facebook ads come to the forefront in this segment. A unique algorithm automatically detects similar items from a particular product set that you choose to display in your ads. The algorithm also decides on what product would have better chances of being purchased. All this is done by analyzing the co-purchasing and co-browsing behavior.

Whenever people on your website purchase footballs and football shoes together, Facebook will learn to sell shoes whenever any type of ball is sold. That is how smart the whole system is. Information is processed at real time speeds, and the results mostly match all predictions in a favorable way.

Automation And Machine Learning

Automation and optimization are playing a huge role in advertising and other financial services. Those who adopted this technology have already entrusted robo-advisors to manage their expenses and finances. Auctioning on Facebook is non different from the real world scenario. One way you could minimize your manual work is by being a Facebook Marketing Partner. Every partner has their own custom made algorithm built for Facebook. An ideal partner would support your advertising team along with various optimization features whilst having access to all of Facebook’s marketing app builder. If you are not too keen on teaming up with anyone, you could also choose to use Facebook’s own set of tools. The Ads manager is aimed at beginners who want to get a feel of how things work, and once they are accustomed to the rat race, can move on to the more advanced features in the Power Editor. If you wish to learn more about the working of these tools and their advantages, refer to our blog. You could also check out Jon Loomer's Blog and Blueprint. If all else fails, you could always hire a digital marketing agency to do the job for you.

All things considered, there is only one question you need to ask yourself - how am I going to stand out from the crowd in 2016?