Earlier this week, I had an opportunity to attend Facebook Decoded. Facebook invited a group of 40 to 50 marketers and developers to teach us how to help you, our clients, and learn what challenges we face in the marketplace. The Fall Summit lasted all day and included a range of topics from Facebook Product Managers including the importance of the pixel and how to implement it, Facebook auction and delivery, deep dive into video solutions, and much more.
Key Takeaways From The Facebook Decoded Event
1. Small Businesses Should Be Advertising on Facebook
The whole day boiled down to two major opportunities for growth: SMB and Video.
Facebook has more than 2 billion users and says the number of business pages has climbed up to 50 million pages in 2017, but only a fraction of these businesses are actively advertising
. This leaves a major gap for small businesses to fill utilizing Facebook’s advertising tools. Facebook has a variety of objectives including traffic, event response, and much more that will help any small business reach their marketing goals.
One of the best ways to attract a new customer is video.
2. Video Is A Great Way To Help Reach Your Marketing Goals
Facebook is all in on video. 10 years ago we watched TV and movies that took millions of dollars to produce but in modern days we’ve seen a drastic evolution of video.
On average, people watch 3 hours per day on mobile devices and 87% of people use a second screen device while watching TV
. Today we are able to watch, create, and share video from our smartphone devices. Facebook understands the importance of this evolution, which is why they recently rolled out
. Facebook Watch is a dedicated place to watch video content. With that comes better opportunities for advertisers. Facebook is creating video ads tailored to the way people watch video.
3. Mobile Is Still Very Important
Facebook has broken down the way we consume mobile video into three categories:
- Vertical video, branded content, gif
- Great for link ads, mobile app installs, dynamic ads
- Lean forward
- Collection, canvas, stories, live, 360
- Lean back
- In-stream video: mid-roll, 10-15 seconds, non-skippable, sound on
On-the-go content is just that on-the-go. It’s short content, whereas lean back tends to be longer. This type of content is designed for when you’re hanging out at home on the couch (probably with the TV on as well).
Understanding these types of content allows businesses to build video solutions to build your brand.
Facebook made it clear video and SMB both have huge opportunities ahead, but there’s more.
4. Importance of the Pixel
The importance of the Facebook pixel was not a new concept for anyone in the room, but it’s something that’s completely underutilized by almost every business that’s not already working with Facebook marketers. Why? People either don’t understand the benefits or they don’t know how to set it up. These are the two areas Facebook discussed: Importance and Implementation. The pixel lets you track conversions, remarketing, create custom and lookalike audiences, and so much more. There’s no sense in running Facebook ad campaigns without it.
How the auction works:
Learning how the auction process works was very interesting because it’s not widely known. Facebook ranks ads based on a “Total Value for each ad”. The total value equals a combination of maximizing advertiser value and optimizing customer experience. In short, Total Value = Advertiser Bid x Estimated Auction Rates + User Quality, which is by far the most important piece of the equation. Ultimately it comes down to whether or not, as an advertiser, you’re bringing value to the user.
5. Facebook Lead Ads Improves User Experience To Get You More Conversions
The average landing page takes roughly 8 seconds to load. That’s a long time in the mobile world we live in. That’s why Facebook created Lead Ads. Another underutilized campaign objective. Lead Ads allows a user to fill out a form natively on Facebook instead of clicking an ad linking back to your landing page. Not only does it make the process smoother, Facebook also auto-populates the form with information from that user’s Facebook profile.
Overall, it was a great learning experience as a Facebook marketer. We look forward to using what we learned to maximize growth opportunities for our clients.
It was also cool hanging out in one of the Instagram buildings 😉