Behind The White Paper: 5 Actionable Facebook Campaign Insights To Win Q4
Q4 2020 looks set to be the biggest quarter of all time for online sales. On the consumer side, the cultural shift to eCommerce versus physical retail has been accelerated by Covid-19. Similarly, retailers will look to discount early ahead of key buying periods in an effort to recoup some of the lost revenue from earlier in the year. All of this, combined with the natural growth in the sector leads towards a massive quarter in online sales.
Much of the thought leadership or guidance we had come across was quite theory based and top line. We wanted to produce something very practical and of real value, given we were sitting on so much rich data.
Thus, over the past few months the team has been working on a significant internal project to produce a white paper ahead of Q4. We wanted to put the extensive data we have to good use and provide easy, applicable recommendations to our clients and other brands seeking information around Q4 marketing strategies. It is such an important time for business’ with eCommerce capabilities and it is the period that most brands, big and small, rely on for the majority of their revenue. A lot of planning goes into Q4, as the holiday season is make or break for many businesses. We have the experience and the knowledge of what works in the industry and our white paper can be used as a helpful guide.
Specifically, our white paper focuses on the core Facebook strategies that will drive online sales in Q4 2020, using data-driven insights. We have amassed these insights from 3 years worth of campaign data, across some of the biggest brands in the UK and Ireland.
When pulling together this piece, we chose Facebook as our focal platform, because we have seen the best ads performance in terms of BFCM sales, resulting from the Facebook Network. This is not to say you should neglect other ads platforms or avoid an omnichannel approach. It is more so that we see so much success on the Facebook Network, given the data and scale within, that we wanted to provide practical tactics to help brands get the most from the channel.
We began cataloging years’ worth of data from our multitude of campaigns. Soon we found consistent themes appearing while we were analysing the data. To make our white paper easy to digest and applicable, we decided to extract 5 golden nuggets that we believed were the most valuable and interesting for brands and rights holders. Without going into the weeds, below are our top 5 key insights and takeaways your brand should use when prepping for Q4.
I. The Buying Mindset
BFCM is applicable to every sector - not just retail. Consumers will be in a buying mindset unmatched at any time throughout the year. The sales period has become so colossal that it has transcended specific verticals or industries.
We analysed data sets where large brands ran the exact same offer multiple times over the course of a twelve month period and compared the results. There is a totally unique purchasing mindset around BFCM.
II. Timing Matters
When it comes to BFCM, it is commonly accepted that many shoppers during this period have planned their purchases in advance. Therefore, one of the most important tactics you can implement in any Black Friday period will be to start broadcasting your message and brand earlier. Focus on getting people into the funnel from September onwards with a view to converting at a later date.
Do not wait until BFCM week to begin your campaign - the majority of brands, large and small, will advertise during BFCM. Planning around this competitive marketplace is essential.
III. Ad Frequency
Frequency is an increasingly important factor within conversion campaigns. At a basic level, it is the measurement of how many times a user sees your ad while your campaign is live. Consumers may see an advertisement of a product that interests them, yet wait to purchase the same product for any litany of reasons.
Prioritise frequency as a key metric in your campaigns and optimise based on performance of ads.
IV. Creative Mix
We have long been proponents of utilising multiple creative assets in conversion campaigns. Our premise is that different users will be more likely to take an action on different creative units.
The thought of video can scare some advertisers who don’t have big brand budgets. However, effective video for direct response campaigns does not necessarily need the big budget treatment. Include a mix of media assets in any campaign, but ensure you combine imagery and video assets in your upcoming holiday campaigns.
V. Dynamic Product Catalogue
The power of the dynamic product catalogue should not be underestimated. For online retailers and eCommerce businesses in particular, it has been an essential tool to convert consumers.
If your business has eCommerce functionality, it is imperative to run the dynamic product catalogue. We see best results from leaving this campaign ‘always-on’ and supplementing with your brand or discounted campaigns.
With only a quick glance at our key insights above, the full white paper can be downloaded here.
This year in particular promises to have an ultra-competitive marketplace. Retailers will scramble to make up lost revenues, while consumers will keenly hunt for bargains.
While there is no silver bullet for achieving success during the BFCM period, there are specific tactics you can deploy to succeed on the Facebook Network. By getting your timing right and focusing on key campaign tactics such as frequency, creative, and ad units, you can achieve the scale you seek.
These are data-driven insights from campaign data accumulated over many years and can form the foundations of a successful Q4 campaign strategy.
At Fifty-Three Six, we are obsessed with data and marketing. We are constantly looking for signals and patterns from our performance-driven campaigns. We wanted to produce a white paper of real value for our customers and wider businesses alike to help them have a significant impact in Q4. If you’d like to chat, about your upcoming Q4 strategies please get in touch below!
