Facebook delivers much higher conversion rates than Pinterest or Twitter in terms of social commerce sales, but the average order value is highest for Pinterest users, followed by those referred by Facebook and Twitter, according to a new report by customer experience engine Monetate.
Compass Labs, a Facebook Preferred Marketing Developer in ads and insights, announced Wednesday the launch of its newest product — The Social Advertising Optimizer — which will help marketers gain return on investment from Facebook marketing campaigns.
Media intelligence company Aggregate Knowledge analyzed more than 27 billion online ad impressions during the first quarter of 2013, finding that social networks and portals drove efficiency for brands, with social networks delivering the highest-quality users, or those most likely to lead to conversions, while ad exchanges continued to be cost-effective.
While marketers figure out how to convert sales on Facebook, it appears that Pinterest is beating the social network to the punch. New research from RichRelevance shows that Pinterest is starting to take up a bigger slice of the marketing pie among brands seeking conversions.
Facebook announced Wednesday that advertisers that want to grow their fan bases can now pay based on a cost-per-action basis. For instance, if brands want to gain more likes and are willing to pay $2 per new fan, they can simply bid $2 CPA and pay no more than that when users like the page through ads. This is only available in the ads application-programming interface — not yet in Power Editor or Ads Manager — but Facebook may make it available on those platforms in the future.
Social media interns aren’t just constant reminders of how little you know about the independent music scene: They’re also excellent resources when it comes to marketing on Facebook. But without the proper strategy — for both managing your interns and your return on investment — you could be wasting all of that digital native know-how.
Now that Facebook Credits have been nixed as the official currency of Facebook games, the company took some time Tuesday during the Game Developers Conference in San Francisco to explain how the new system of local currency makes in-game purchases easier for all parties. Now, game developers have full control over what they charge users in different countries, and users can see rounded price points instead of always-changing conversions.
Facebook continues to provide advertisers with more options to secure precious real estate on its News Feed, with sister blog Inside Facebook reporting that unpublished posts, also referred to as dark posts, were added to News Feed last week.
Facebook marketing has changed, as more brands now want to be able to track sales motivated by ads on the social network. Compass Labs, a Facebook Preferred Marketing Developer in ads and insights, launched its conversion tracking and measurement solution Wednesday, allowing companies to see just how successful their campaigns are, based on impressions and clicks, all the way through the conversion funnel.
Ever since the company went public nearly one year ago, Facebook has been trying to prove to advertisers that it can provide real-world value. Brad Smallwood, Facebook’s head of measurement and insights, told attendees of the Advertising Research Foundation’s Re:think conference in New York that among 22 recent Facebook campaigns, with data from 70 million consumers, Facebook increased return on investment by 22 percent.