Date post: | 09-May-2015 |
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Marketing |
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&HOSTED BY:
How to Structure Your Ad Budget to Include Social
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Presenters
• John Lee– Managing Partner at Clix Marketing
– John is a PPC, display and social advertising professional. He has written for Search Engine Watch, ClickZ, Acquisio Blog, Clix Marketing Blog, PPC Hero and the WordStream Blog. John is also a speaker at SMX, ClickZ Live and HeroConf.
• Cassie Oumedian– Sr. Account Manager at Hanapin Marketing
– Blogger at PPC Hero
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Join the conversation
• Include the hashtag #thinkppc in your tweets.• Or use the webinar question box to send us questions.
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How to Structure Your Ad Budget to Include Social
1. How Businesses are Budgeting for Social Media in 2014
2. Create A Social Strategy – Have A Plan
3. What Social PPC Options Are Best For Your Budget?
4. Tracking Social Media – Track ROI & Get More Budget
5. Economy of Scale – Small vs. Large Budget Success
6. Best Practices for Metering Your Social Advertising Budget
7. What Features are Worth Testing on a Limited Budget?
8. The Question on Everyone’s Mind: How Do I Set a Social Ads Budget?
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Live Poll Question #1
How long have you been in PPC?
A. Less than 1 yearB. 1-3 yearsC. 3-5 yearsD. 5+ years
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Live Poll Question #2
How do you manage your account(s)?a) I manage it myself.b) I’m part of a team that manages it.c) I outsource my account management.d) I’m rethinking how my account is managed.
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2014 Social Media Budgets
45.6% of business expect their social media spending to increase up to 10%
Only 29.1% of businesses have a distinct budget for social.
23.9% of budgets coming from print, television, and radio.
Source: Social Strategies for 2014, Wildfire by Google and AdAge, 2013 & MarketingProfs.com
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2014 Social Media Budgets
Source: Social Strategies for 2014, Wildfire by Google and AdAge, 2013 & MarketingProfs.com
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2014 Social Media Budgets
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Creating a Social StrategyDetermine
Goals
Know your audience
Analyze competition
Determine Social Tactics
Define tone and frequency
Engage your audience
Keep it fresh
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What Social PPC Is Best For You?
…….It Depends!
BTC vs. BTB
Large Budget vs. Small Budget
Branding vs. Direct Response
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PPC Social Options – Facebook - BTC
1. Interest and Category Targeting
2. Custom Audiences – target email sign ups!
3. Lookalike Audiences
4. FBX (Facebook Exchange) Retargeting – Newsfeed
Case Study: Health Supplement Vertical (BTC)
Facebook - 79% Lower CPA on CONVERSIONS vs. Google & Bing
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PPC Social Options – Linkedin – BTB
• Minimum CPC of $2.00
• Targeting Options• Job title, job function, industry, geography, company size, company name,
seniority, age, gender, LinkedIn group
• 10 targets per campaign for Geography, Industry, Job Function
• 100 targets per campaign for Company, Job Title, School, Skill, Group
• Budget & Performance Tips –
• Higher CPCs but typically higher CVRs due to targeting options
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PPC Social Options – Linkedin - BTB
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PPC Social Options – Twitter – BTB/BTC
• Promoted Tweets • Promoted Accounts BTC• Twitter Lead Cards –• Collects email addresses.• 20 character call-to-actions.• Target by audiences, keywords, #hashtags.• Avoid Hard Sell
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Tracking Social – FacebookNot Just Likes & Social Impressions!!
Track Actual Leads, Conversions in Facebook and get more budget!
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Tracking Social – LinkedIn• In Account Lead Collection• Lead Includes - member’s name, headline, LinkedIn profile, and email• Free!
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Tracking Social – Twitter• Promoted Tweet Conversion Tracking – Great for Direct Response/BTC• Custom Attribution – 1,7,14,30
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Tracking Social – GA URL Builder
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Economy of Scale: Small vs. Large Budget Success
Is Social Media Advertising is Easier With a Larger Budget?
In a word… Yes.
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Economy of Scale
Textbook Definition:A proportionate saving in costs gained by
an increased level of production.
Applied to Social Advertising:• Translate cost to time and
efficiency.– More budget = more
impressions, clicks and conversions = more data.
– More data = faster, more accurate optimization.
• Shared learning spread across all campaigns and ads to quickly scale campaigns.
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Economy of Scale: Small vs. Large Budget Success
Why a Large Budget?
• Lack of ad scheduling.
• Large number of targeting options and features.
• While specific and detailed, targeting is relatively broad.o Not like Search PPC where an individual is actively
looking for your product or service.
• High CPCs (excluding Facebook).
• Large audience = high impression and click potential.
• Traffic velocity dictates testing speed (accuracy?) in a high ad-turn-over-rate environment.
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Economy of Scale: Small vs. Large Budget Success
Does This Mean the Small Budget Advertiser is Out of Luck?
• No!
• Data accumulation and optimization will take longer and be less efficient.
• Must be prudent with channel and feature testing.
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What Features are Worth Testing on a Limited Budget?
The Most Targeted Ones.
(note to presenter: pause for comedic timing)
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Feature Testing: Facebook EditionCustom
Audiences
Lookalike Audiences
Facebook Exchange Remarketing / Website
Custom Audiences
Targeting Connections / Similar to Connections
Interest Targeting
Partner Category Targeting
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Feature Testing: LinkedIn EditionSingle
Campaign/Multiple Targeting
Features
Companies and/or Industries (Single Campaign / Single Targeting Feature)
Job Titles and/or Job Categories (Single Campaign / Single Targeting
Feature)
Skills (Single Campaign / Single Targeting Feature)
Groups (Single Campaign / Single Targeting Feature)
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Feature Testing: Twitter EditionPromoted
Tweets: Similar to YOUR
FollowersPromoted Tweets:
Similar to Followers of Competitors or Thought Leaders
Promoted Tweets: Exact and Phrase Match Keywords (Search and/or Timeline)
Promoted Tweets: Broad Match Keywords (Search and/or Timeline)
Promoted Tweets: Interests (Search and/or Timeline)
Promoted Accounts (assuming your goal is direct response)
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Best Practices for Metering Your Social Budget
When budget is small, you can’t test everything at once.
• Test one channel at a time.
• Test one feature at a time (refer to targeting pyramids).• Blend feature sets and channels once you’ve established what works.
• If need be, manually pause/resume campaigns to establish ad scheduling.• Time of day; day of week.
• Twitter: utilize standard ad delivery to pace budget daily.
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Get More For Your Buck!
Looking for a long-term, sustained campaign?• Facebook:– right-hand placement ads (low CPC, slow-but-steady
traffic)
• LinkedIn – traditional ad placement (high CPC, slow-to-moderate
traffic)
• Twitter– any promoted tweet format on low bid and standard
delivery (low cpc, steady traffic)
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Get More For Your Buck!
Thinking big and OK with draining budget?• Facebook:
– newsfeed ads on desktops & mobile (high CTR, moderate CPC)
• LinkedIn – sponsored updates on desktops & mobile (high CTR,
moderate-to-high CPC)
• Twitter– any promoted tweet format on a higher bid and accelerated
delivery (higher engagement rate, moderate-to-high CPC)
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How Do You Set a Social Ads Budget?
• The “holy grail” that advertisers and agencies seek to find.
• There is no exact number or one size fits all solution.
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How Do You Set a Social Ads Budget?
At a Glance:• What is available?– Based on business limitations and overall
marketing budget.– Find areas of wasted spend in other marketing
channels to divert to social (permanently or for testing).
• Back into the math... Not an exact science.
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How Do You Set a Social Ads Budget?
Create accounts and build hypothetical campaigns.• Understand CPC/CPM requirements based on audience
size (reach) and targeting parameters.
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The Conversion-Based Formula
Use conversion goals to determine budget.• Back into the math.
– How many conversions do you want or need to be “successful”?– How many clicks does it take to get a conversion?
• Use display advertising clicks and conversion rates as a baseline for estimation.
– ***This is just one way to approach budget.***
Clicks per Conversion
Estimated CPC / eCPC
Cost per Social
Conversion
Desired # of Social
Conversions
Cost per Social
Conversion
Potential Budget
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Live Poll Question #3
Which types of ads do you use most often (or which type are you most excited to start out with)?#thinkppc
a) Ads (the right hand side ones that started it all)b) Sponsored storiesc) Mobile only adsd) Video adse) Anything and everything
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Live Poll Question #4
Would you like help with your PPC accounts and management?
I’m interested in:
a.) FREE Solutions Blueprint from Hanapin Marketing: We look at your account and provide analysis and consultation (For accounts with $20K+ in adspend).
b.) Get a free opportunities analysis on your paid search, display and social media advertising campaigns from Clix Marketing.
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Live Q&A Time!
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Have more questions?
Thank you for attending Social PPC webinar! #thinkppc
• Get a free Solutions Blueprint from Hanapin Marketing (for accounts greater than $20K/mo in adspend): http://www.hanapinmarketing.com/solutions-blueprint-sign-up
• Get a free PPC, display and social advertising campaign review and opportunities analysis:try.clixmarketing.com/free-campaign-analysis/
• Or Contact us Directly:• Webinar Feedback: [email protected]