Published on March 7, 2014
How to Structure Your Ad Budget to Include Social HOSTED BY: & #THINKPPC
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 #THINKPPC
Join the conversation • Include the hashtag #thinkppc in your tweets. • Or use the webinar question box to send us questions. #THINKPPC
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? #THINKPPC
Live Poll Question #1 How long have you been in PPC? A. B. C. D. Less than 1 year 1-3 years 3-5 years 5+ years #THINKPPC
Live Poll Question #2 How do you manage your account(s)? a) b) c) d) I manage it myself. I’m part of a team that manages it. I outsource my account management. I’m rethinking how my account is managed. #THINKPPC
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 #THINKPPC
2014 Social Media Budgets Source: Social Strategies for 2014, Wildfire by Google and AdAge, 2013 & MarketingProfs.com #THINKPPC
2014 Social Media Budgets #THINKPPC
Creating a Social Strategy Determine Goals Keep it fresh Know your audience Analyze competition Engage your audience Define tone and frequency Determine Social Tactics #THINKPPC
What Social PPC Is Best For You? …….It Depends! BTC vs. BTB Large Budget vs. Small Budget Branding vs. Direct Response #THINKPPC
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 #THINKPPC
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 #THINKPPC
PPC Social Options – Linkedin - BTB #THINKPPC
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 #THINKPPC
Tracking Social – Facebook Not Just Likes & Social Impressions!! Track Actual Leads, Conversions in Facebook and get more budget! #THINKPPC
Tracking Social – LinkedIn • In Account Lead Collection • Lead Includes - member’s name, headline, LinkedIn profile, and email • Free! #THINKPPC
Tracking Social – Twitter • Promoted Tweet Conversion Tracking – Great for Direct Response/BTC • Custom Attribution – 1,7,14,30 #THINKPPC
Tracking Social – GA URL Builder #THINKPPC
Economy of Scale: Small vs. Large Budget Success Is Social Media Advertising is Easier With a Larger Budget? In a word… Yes. #THINKPPC
Economy of Scale Applied to Social Advertising: • Translate cost to time and efficiency. Textbook Definition: A proportionate saving in costs gained by an increased level of production. – 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. #THINKPPC
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 adturn-over-rate environment. #THINKPPC
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. #THINKPPC
What Features are Worth Testing on a Limited Budget? The Most Targeted Ones. (note to presenter: pause for comedic timing) #THINKPPC
Feature Testing: Facebook Edition Custom Audiences Lookalike Audiences Facebook Exchange Remarketing / Website Custom Audiences Targeting Connections / Similar to Connections Interest Targeting Partner Category Targeting #THINKPPC
Feature Testing: LinkedIn Edition Single 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) #THINKPPC
Feature Testing: Twitter Edition Promoted Tweets: Similar to YOUR Followers Promoted 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) #THINKPPC
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. #THINKPPC
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) #THINKPPC
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, moderateto-high CPC) • Twitter – any promoted tweet format on a higher bid and accelerated delivery (higher engagement rate, moderate-to-high CPC) #THINKPPC
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. #THINKPPC
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. #THINKPPC
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. #THINKPPC
The Conversion-Based Formula Clicks per Conversion Estimated CPC / eCPC Cost per Social Conversion Desired # of Social Conversions Cost per Social Conversion Potential Budget 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.*** #THINKPPC
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) b) c) d) e) Ads (the right hand side ones that started it all) Sponsored stories Mobile only ads Video ads Anything and everything #THINKPPC
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. #THINKPPC
Live Q&A Time! #THINKPPC
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: firstname.lastname@example.org #THINKPPC
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