Despite facing challenges earlier this year, Facebook’s advertising revenue is skyrocketing. With over 2.27 billion monthly active users on Facebook as of September 30, 2018, Facebook continues to be one of the most effective way to advertise online.
Compared to other networks, Facebook is the largest social network and is projected to continue growing. According to statistics from TechCrunch, here are the number of monthly active users on other top social media platforms:
- Youtube has 1.5 billion monthly active users
- WeChat has 889 million monthly active users
- Instagram has 700 million monthly active users
- Twitter has 328 million monthly active users
- Snapchat has an estimated 255 million monthly active users
Other interesting facts about the effectiveness of Facebook include:
- A survey from Curalate found that 52 percent of respondents had discovered a new retail product on Facebook that they were interested in buying. Among 18- to 34-year-olds, that number rises to 78 percent.
- 95.8 percent of social media marketers say Facebook delivers the best ROI among the social networks.
- Nearly a third of online shoppers (31%) say they are using social channels to browse for new items to buy. Facebook is the most popular network people are using (26%), followed by Instagram (8%) and Pinterest (6%). (marketingweek.com)
- According to research by Aimia, 56% of respondent follow brands on social media to see new products. Facebook is also the most popular platform on which consumers would make purchases directly. The research shows that one-third (33%) of 18- to 24-year-olds say they would like to purchase items directly from Facebook, 27% want to shop on Instagram and 20% on Twitter, followed by Pinterest (17%) and Snapchat (15%). Facebook is also popular for 30% of 25- to 34-year-olds and 23% of those aged 35 to 44.
- According to Digital Air Strike, 77% of car buyers and 55% of auto service customers clicked on a Facebook ad because of an offer or promo.
- 93% of marketers use Facebook regularly, which translates to about 3 million businesses that use Facebook to market their business.
While Facebook can be a lucrative advertising and marketing channel across industries, many brands are unsure how to target audiences in the light of recent changes at Facebook. Facebook removed its Partner Category targeting options, which previously allowed third-party data providers to provide their targeting segments directly on Facebook.
Given the importance of prospecting and the shortcomings of most advertisers’ first-party data assets, third-party data is still a must-have for the modern marketer. While Partner Category targeting is no longer an option through Facebook, what many brands are unaware of it that third-party custom segments are still allowed by establishing a relationship directly with a data provider.
Going forward, brands and agencies must seek to build one-to-one partnerships with third-party data providers. The benefit of this is that brands can now open up deeper targeting capabilities for their campaigns. While Facebook’s Partner Categories offered data on demographics and some behavioral data, available segments lacked insights into deeper consumer motivations that can be revealed via psychographic data. Marketers now have a new opportunity to fill in the gaps with deeper insights and better audience segmentation.
Porch Group Media AudienceLink for Facebook Advertising
Porch Group Media offers a custom audience solution for Facebook called Porch Group Media AudienceLink, an industry-leading third party data set with 100% opt-in emails. We follow rigorous quality and privacy standards, ensuring our sourcing collection methods undergo extensive due diligence to be 100% compliant with state and federal laws.
How the Process Works
- Porch Group Media will work with you to understand your campaign objectives and help you determine the best strategy to meet your needs.
- Based on your campaign goals, you may choose to reach your current customers using your internal customer data or create an acquisition campaign using Porch Group Media’s third party data assets.
- Once we build your custom audiences, you may distribute to Facebook through your client account or approved Facebook integration partners.
Target Acquisition Audiences Based on Your Best Customer Profile
Based upon your best customer profile, we will create a look-alike acquisition audience using our third-party data sets. Using AI and machine learning algorithms, we combine over 1,000+ attributes to create a highly custom audience for rapid deployment.
Target Your First-Party Audiences and Look-Alike Audiences
Target your first-party audiences using your internal customer list. To optimize your audience reach, Porch Group Media performs rigorous email and phone verification and append processes to ensure you have the highest quality data set to achieve a higher match rate to Facebook’s member base.
In addition, we will append Porch Group Media AudienceLink to your customer database to gain deeper insights into your customers and create look-alike audiences. We offer only the highest-blend of data available with 100% opt-in emails and in full compliance will all privacy regulations.
You may enhance your audience with any number of attributes from our extensive database including demographic, behavioral and lifestyle selects such as age, income, interests, personality data, in-purchase indicators, vehicle information and more.
Clients using Porch Group Media AudienceLink for Facebook campaigns have experienced a 3x increase in sales conversions and a 20% increase in engagement.
While the loss of Partner Categories has implications for advertisers, it’s certainly not the end of the road for Facebook advertising. Brands can establish deeper relationships with their third-party data providers to optimize conversions across all media buys.