Is Social Media Marketing Still a Valuable Strategy? Absolutely.
Anyone who has listened to the news in recent days has heard a great deal about Facebook. They are working to make their platform safer for users by overhauling their security and privacy settings. After announcing that they will no longer provide 3rd party audiences, or partner categories, to their advertisers, that may leave you, along with many of our clients, with some questions.
First, initial reports suggest Facebook third-party audiences won’t be removed until September 30th. This gives everyone time to not only refine their strategies, but familiarize themselves with the other audience segments they can still tap into.
That being said, First Party Data activation is still available to build custom audiences and propel campaigns to the most engaged audience clients have – their own.
First Party Audience
This is your most captive audience, and one you want to pay special attention to. If you effectively take advantage of its value, you won’t bypass countless opportunities to connect with, retain or even winback customers. There’s a reason that more than 65% of marketers believe first party data provides the best path to true customer understanding. This data is a gold mine, and that advantage can not only make an impact to the success of your marketing efforts, but your bottom line.
The data is collected from actual interactions customers have with businesses across a vast array of touchpoints, both historical and in real time, and is generally thought of as high in quality, meaning more accuracy for you. Not only that, but it is available for no additional cost, making it more cost effective than Third Party Data. Finally, and most importantly, due to privacy debates currently taking place and the questionable future of Third Party Data, First Party Data is safe.
First Party Audiences are made up of these categories:
A Custom Audience from a customer list is a type of audience you can create made up of your existing customers. You can target ads to the audience you’ve created on Facebook, Instagram and Audience Network.
Communicating with this group, which could include those in your database or who have visited your website, helps you stay top of mind as well as build trust and customer loyalty.
By focusing on this powerful segment, you are able to build audiences based on people similar to your customers. This is particularly helpful when your strategy focuses on building brand awareness and introducing new prospects to your business and capabilities. When your goal is an impactful conquest strategy identifying target consumers across Facebook & Instagram, this is the way to go.
Unique insights are gained from other marketing efforts across Facebook, greatly increasing the chance of your message resonating with the right people who most likely to take action.
Another segment, Core Audiences, are also available.
Who do you want to reach? No one knows your customer better than you, but by segmenting audiences based on these distinguishing factors, you’ll discover those most likely to be responsive to your messaging.
This is based on four main targeting types:
- Demographics –age, gender, relationship status, education, workplace, job titles and more
- Location – target key local areas or set a radius around your store
- Interests – drill down into hobbies, preferences or favorite activities
- Behaviors – purchase behaviors, device usage, etc.
So the good news? There are still ample opportunities to use Facebook to be heard across several audiences, driving key, responsive customers to your door.
Blog | DATE 03, 2020