With profound amounts of data being generated by Social Media each and every second, brands have become overwhelmed with the challenge of knowing what to use and how to use it. With the sheer amount of information passing through Social accounts daily, it is easy to understand why brands can struggle to leverage this data and capitalise on all consumer touchpoints.
Unlike other media channels, Social is unique in that it can provide brands with a true full-funnel implementation that generates both awareness (Brand) and conversions (Performance). With this full-funnel ability, the need for integration between Brand and Performance marketing has never been more necessary to minimise wastage and remove overlaps between audiences.
Utilising Social data to its full potential does not only aid performance from a Conversion and ROI perspective, but can also be passed back up the funnel to fuel future prospecting or broad audience awareness activity.
Integrating Brand activity to Performance
With over 100 million hours of video being consumed on Facebook every day (Recode, 2016), video view data is the greatest opportunity for brands to pass data down the funnel from Awareness and into Conversions. When we consider the multiple audience pools that are created with each individual video, segmenting this data and pushing these audiences into performance activity can be extremely powerful. From an intent perspective however, we must consider that there is a significant difference between an individual who views a video for 3-seconds and one who has played a piece of content in full. Understanding this, we can then determine what lower-funnel content should be shown to a user, based on how they have interacted top-of-funnel.
This approach can also be adopted across other touchpoints in Social such as CRM targeting, lead retargeting, Canvas retargeting & page engagement. While the implementation of these data segments may seem basic, broadening audiences that are tasked with driving online conversions and performance past the traditional methods of website retargeting can significantly improve ROI. It can also ensure that spend on brand remains cost effective through optimal retargeting strategies based on the data that is created.
Integrating Performance to Brand activity
CRM data remains a roadblock for many clients in the Australian media landscape. There is a difficulty in understanding exactly who a brand’s target audience is. Although tools such as Roy Morgan, Nielsen and Experian exist to help delve into what a customer audience looks like, there are still brands which miss the opportunity of using data to fuel this research. We now have the ability to know more than simply what a customer’s media and spend habits are but also their interests, age, gender, geographical locations, job titles and even relationship status.
Audience insight tools on social channels like Twitter (coming soon) and Facebook, unlock the ability to understand just who your audience actually is and can be updated based on where they sit in the user journey. This data can then be passed back into any future brand activity to ensure that spend is allocated to audiences who are most likely to convert. For example, if the majority of your brand activity is only targeting 25-54 traditional demographics yet you uncover that the 18-24 years olds actually make up 20% of your converting audience would you not then widen your brand activity to ensure you capitalise on this high converting demographic?
In addition to this, the ability to create Lookalike audiences off the back of those that converted or even purchased above a certain order value can be extremely effective for Brand activity. While interest, demographic and third party data are still a great way of building broad audiences, lookalike audiences of between 1 and 5% are always a positive inclusion to test results against.
With so much data to play within social, continually testing and learning is the best action to take to align brand and performance advertising. The old ‘if it ain’t broke, don’t fix it’ excuse is no longer applicable in today’s modern media landscape with an exponential amount of tools to allow us to consistently learn who our audiences are and how they are continually evolving.
Author: Jonathan Henshaw, Social Media Executive