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Facebook’s taking on an unlikely target: YouTube.
The social network is not planning to become a video Website, but a leaked pitch deck published by TechCrunch indicates that Facebook would like to be advertisers’ go-to for mobile video ad spend. The presentation, “Facebook for Business: Video on Facebook,” delves into the stats that bolster its claim.
What to Do:Use Facebook with other ad campaigns to maximize effectiveness. Consider Facebook especially when targeting millennials. Compare analytics from Facebook and YouTube campaigns to determine best practices for different demographics and products.
Why Facebook? Three reasons: First, changing consumer behavior means that marketers should “be where people are. Secondly, it allows them to “reach all of the people who matter to you.” Finally, Facebook’s News Feed is “the most engaging digital real estate.”
Facebook claims its ads are 60 percent more accurately targeted than the competition.
The first element, changing consumer behavior, refers to the fact that television is “no longer a guaranteed audience.” According to eMarketer, people will spend more time on digital media than on TV in 2013. Nielsen, which has long released the TV ratings that advertisers depend upon for media buys, recently announced that it would incorporate Twitter messages to create a new metric for rating TV shows based on social engagement.
That digital media includes Facebook. The company reports that people check their phone 100 times a day, and Facebook 10 to 15 times each day. Facebook and Instagram make up 21 percent of total time spent on mobile. In general, eMarketer reports that more than 28 percent of time spent online or on a smartphone is spent on social networking. Social networking ad spending, which was 8.5 percent of total U.S. ad spend in 2012, is projected to hit 12.2 percent by 2015. Digital ad spending in general, which will be $9.5 billion in 2013, is expected to reach $13.8 billion by 2017.
A second element, “targeted reach,” is basically a testament to the 179 million people who use Facebook each month. Per day, it’s 128 million people, 101 million of which are on mobile. Television, according to Nielsen ratings, reaches less people ages 18 to 24 each day than Facebook does. Further, Facebook claims that it can deliver “incremental reach” above TV, increasing its reach primarily among 25- to 34-year-olds, and especially during the day, when it increases reach 125 to 160 percent.
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