Don't leave prospects on social blind to your brand! Leveraging your own customer data on Facebook
We’ve heard it all before… Marketers are becoming more and more dependent on social media as a part of their advertising mix. In fact, according to eMarketer, social media advertising budgets more than doubled worldwide from 2014 to 2017. Facebook is still the front runner in terms of ad revenue with over 65% of revenue share compared to other social channels.
So it’s not surprising that, as marketers, we have all become more and more dependent on the available Facebook customer targeting attributes ranging from geography and age to general interests, with many of us utilizing Facebook Lookalike Audiences to reach prospects that greatly resemble our customers. And it’s great, right?
Haven’t heard about Facebook Lookalike Audiences? Here’s how it works: Lookalike models use statistics to find prospects who resemble past buyers and area a cost-effective way to acquire new ecommerce buyers, beyond search and retargeting. Facebook Lookalike Audiences use Facebook’s own proprietary user data to build a model that ranks each user’s similarities to characteristics found in your customer list. Just upload those email addresses and you can target those users that most resemble your best customers – most marketers start with the ‘best’ 1%, or roughly two million users.
And it does work really well. But… Unfortunately, what many of us fail to realize (or what we chose to ignore) is that Facebook utilizes its own engagement data as a primary source for finding those similar customers.
As a result, utilizing standard audience selections for targeting or Facebook Lookalike Audiences via Facebook and Instagram only reaches the top 10-15% most “clicky” of users, (those which are most active), limiting the reach of a company’s campaigns. Because Facebook only provides one model per customer list, performance of its lookalike audience rapidly degrades once the ‘best’ 1% becomes less responsive.
And, because we are continually targeting the same “clicky” audience as everyone else, we end up wasting precious marketing budget bidding on the same exact audience as every other company. So, how can emerging brands compete with the big-name brands when bidding for the same social audiences?
RightJoin picks up where Facebook leaves off It all starts with building a true understanding of your company’s customers and their unique characteristics. RightJoin uses best-in-class external data combined with your own client data to identify best prospects. Knowing what makes your brand’s customers different from everyone else’s makes it possible to create not just one, but unlimited custom segments on Facebook outside of the standard Facebook Lookalike Audiences model.
And, because RightJoin’s segments are built using data linked to actual people, they can be used anywhere – on other social media, any digital platform, and even on more traditional channels like direct mail and email.
Marketers who use RightJoin segments find that they perform at levels comparable to their BEST performing Facebook Lookalike Audiences, expanding their reach by up to 5X.
But the advantages don’t stop there. See how RightJoin solutions can optimize your social media marketing and acquisition programs.