In 2013, Facebook formally announced that it had a million advertisers. Then in February of this year, the company announced two million advertisers. Now Facebook has announced the network has 2.5 million advertisers. The announcement is a deliberate attempt to attract attention from the world’s largest brands and agencies who have gathered in New York City this week for Advertising Week.
Facebook has also shared four updates on what the social network is building to help advertisers capitalize on mobile and give people a better ads experience.
1. TRP buying
Finally marketers from countries like India which has a TV dominance will be happy. Facebook for the first time s introducing a purchasing product dubbed TRP Buying—which references the metric called target-rating points (TRPs).
Target rating points, the popular TV ad measurement metrics since 1950, is a specific consumer audience within a gross-rating point (GRP). The TRP Buying metric forms its ground over the Facebook- Nielsen’s Digital Ad Ratings, which will verify how well the social site’s video ads perform in conjunction with TV spots.
Facebook states that marketers can plan a campaign across TV and Facebook with a total TRP target in mind, and they can buy a share of those TRPs directly with Facebook. Then, Nielsen’s Digital Ad Ratings measurement system can verify Facebook’s in-target TRP delivery, and Nielsen’s Total Ad Ratings system can verify the TRP delivery for Facebook and television combined.
Facebook wants its video offering to catch up. In the last few months there has been a growing interest by advertisers for Facebook videos but two major problems – 1.The way the social networking giant has been calculating video views, and 2. Freebooting or downloading someone else’s copy-righted material, often from YouTube, and uploading it into Facebook’s native video player, has become a great concern.
To solve Freebooting problem Facebook is already working on building a robust video matching technology. Additionally, for the first time, it has partnered with Moat, an independent third-party, to verify Facebook video ads. To start with, the partnership with Moat will focus on verifying video ad metrics.
Advertisers like Unilever, Kellogg’s and WPP have been threatening for a while to withhold spending with some of the biggest publishers. It is not just Facebook, platforms like YouTube, Snapchat, Pinterest have faced the same heat since they too don’t follow a basic view standard.
The latest announcement walks on the same line of offering clarity on ad viewability. Facebook has also raised some data points that will get the advertisers attending the event:
– When TV and Facebook were combined, advertisers saw a 19% increase in targeted reach versus TV alone.
– When Millennials were the target audience, incremental reach increased to 37%
– Compared to people who saw TV alone, people exposed to both TV and Facebook demonstrated a 3.2 percentage point increase in ad memorability, 11.5 percentage point increase in brand linkage and a 22.7 percentage point increase in likeability linkage.
2. Brand Awareness Optimization
Facebook is focusing on brand campaigns with the introduction of new brand awareness optimization bidding. Brand awareness optimization is designed to help advertisers find the audiences most likely to recall their ads. “It takes two primary factors into account: attention and reach. We’ve found that, when it comes to brand awareness, it’s not just how many people you reach that matters—it’s also crucial to break through and earn people’s attention,” informs Facebook.
Facebook has also found that the longer someone spends with an ad, the more likely they are to remember what they’ve seen.
Brand awareness optimization will be available when buying in the Ads auction, as well as through the Reach and Frequency tool in Power Editor. It will be available on Facebook and Instagram this October as a limited release, with full availability in the coming months.
3. Mobile Polling
Earlier this year Facebook had launched mobile polling along with Nielsen, to help brand advertisers understand the impact of their mobile campaigns. Facebook is now extending the partnership with Millward Brown Digital on brand lift insights for Facebook and Instagram, allowing advertisers to conduct mobile polling on both platforms.
“Polling also relies on experimental design methodology, which means marketers can clearly observe the changes in brand metrics caused by their campaigns,” said Facebook.
4. Video in the carousel ad format
Last year, Facebook launched carousel ad formats, which gives advertisers more creative real estate in News Feed to showcase their products and drive actions like app installs and website visits. Carousel ads have proven to be amazing storytelling tools for brand marketers, now have the ability to add video to the carousel format.
Video in the Carousel format will begin rolling out this week in Power Editor, and will expand to the Ads Create Tool in the coming weeks.