Social Media Week Chicago: A Roundup in 17 Tweets
Last week, I had the opportunity to return to my old stomping grounds for Social Media Week Chicago. I heard from individuals at leading organizations spanning technology, media, non-profits, and more.
As a #SMWChicago content partner, Adaptly held a presentation with Instagram and a panel with clients Allstate and The Richards Group. If you couldn’t attend, here are some highlights from the #SMWAdaptly sessions.
A How-To: Boost Ad Performance Across Facebook & Instagram
In our session on Monday, our VP of Strategic Accounts Ruth Arber was joined by Jaideep Mukerji, Head of Advertising Research at Instagram. They discussed how brands can leverage Facebook and Instagram in their marketing strategy.
Ruth kicked things off with an overview of the digital landscape – specifically, “traditional” media versus the new breed of platforms. Media from the early era of digital advertising has standardized formats, cookie-based data, and longtail reach across multiple networks. On the other hand, walled gardens like Facebook and Instagram have native ad formats that are natural to the user experience, first-party data (through log-ins), and extensive targeting capabilities.
Then Ruth and Jaideep dove into the opportunities available through Facebook and Instagram. Facebook has 1.71 billion users while Instagram has 500 million. The two platforms enable advertisers to reach these massive, engaged audiences and achieve brand and direct response objectives – from increasing awareness to boosting sales.
"1 in 5 minutes [on the internet] is spent on Facebook and Instagram" – @ruthyarbs #SMWChicago #SMWAdaptly
— SMW Chicago (@SMWchicago) November 15, 2016
How exactly should we be thinking about Facebook and Instagram as channels? Jaideep noted that “Facebook is more centered on the personal, private sphere. Instagram has a public sphere to it: people are willing to follow public figures and people they don’t know personally, but they’re connected through a shared interest or passion.”
FB = personal discovery
Instagram = visual inspiration #smwadaptly #SMWChicago— Flower Girl (@vanessalflowers) November 15, 2016
Facebook and Instagram users visit the respective platforms at similar times throughout the day and share and curate the same amount of content.
Let's start learning! What FB and IG users have in common. #SMWadaptly #SMWchicago pic.twitter.com/zHRtfPotIb
— Kirsten Agnello-Dean (@Kirsten_AD) November 15, 2016
Advertisers can tap into Facebook’s rich data for targeting – location, demographics, interests and behaviors, website and app, etc. – across both Facebook and Instagram through Placement Optimization. Brands should see better value using this method, said Jaideep.
"Placement Optimization" = Buying audiences across Instagram and Facebook #SMWChicago #SMWAdaptly pic.twitter.com/BzDPW6s6Bq
— adaptly (@adaptly) November 15, 2016
There isn’t a one-size-fits-all approach but if you have good-performing creative on Facebook, you should have similar strong results using it on Instagram.
"Good @facebook creative performs equally well on @Instagram for advertisers" – @instagram #SMWChicago #SMWAdaptly
— SMW Chicago (@SMWchicago) November 15, 2016
One key takeaway: test, test, and test some more to learn what works when running ads across both Facebook and Instagram.
Our friends @adaptly are digging into social ads. Their biggest tip? Test, learn and focus on good creative #SMWAdaptly #SMWChicago
— Hootsuite Community (@HootCommunity) November 15, 2016
All in all, with Placement Optimization, you can reach more people, generate greater lift, and drive efficient costs. Case in point: Lay’s.
With Placement Optimization, Lay's achieved a:
5% ⬆️in reach
5% ⬆️in sales lift
3% ⬇️in CPM#SMWChicago #SMWAdaptly pic.twitter.com/Is0HP41FiU— adaptly (@adaptly) November 15, 2016
We’re in a Vertical Video Era. Now What?
On Thursday, Charlie Neer, Adaptly’s SVP of Revenue, moderated a panel with Megan Presslak, Associate Digital Media Manager at Allstate, and Jeff Kauffman, Media/Group Head at The Richards Group. Charlie opened with a rundown of how social media video has evolved from YouTube’s launch to Twitter’s livestreams of sports games.
Taking a step back to see how we got where we are today on social media. #smwadaptly #smwchicago pic.twitter.com/wae6NjNDDI
— mcgarrybowenchi (@mcgarrybowenchi) November 17, 2016
People spend an average of 45 minutes a day viewing video on smartphones. And over 100 million hours of video are consumed via Facebook every day, with most of the time spent on mobile devices.
There are 8 billion video views on Facebook each day. Each user watches 9 videos/day, 6 of which are on mobile. #SMWChicago #SMWAdaptly pic.twitter.com/t8S2GPSy2s
— adaptly (@adaptly) November 17, 2016
According to Charlie, if 2016 was the year of viewability and fraud, 2017 will be the year of attention. How much time do consumers spend viewing your content? Hone-in on audiences who dwell on your ads for longer. There will be increased competition across channels for share-of-time on marketing.
What counts as a view is super segmented across channels. #SMWChicago #SMWAdaptly pic.twitter.com/Q91RVzWXYb
— Caroline Braswell (@C_Braswell12) November 17, 2016
“Turning your phone is hard,” said Presslak. Snapchat has 150 million daily users who send more than 1 billion snaps and view over 10 billion vertical videos.
Think like your consumers – use vertical video to capture their attention before you lose it. @mpresslak #SMWChicago #SMWAdaptly
— SMW Chicago (@SMWchicago) November 17, 2016
It was recently reported that the average human attention span has fallen from 12 seconds in 2000 to 8 seconds. Note: Goldfish can concentrate for 9 seconds. Brands have a limited time to engage users through storytelling with high-quality visuals and sound.
"While your 2 minute video might be great…think about how you can tell that story in 6-8 seconds, vertically." #SMWChicago #SMWAdaptly
— Taylor Pecko-Reid (@TaylorPeckoReid) November 17, 2016
Jeff shared a graph highlighting how paid TV was at its peak around 2011. In Q2 of 2015, paid TV took its biggest subscriber hit to date. In 2021, major TV contracts across the NFL, MLB, and NHL will expire.
Massive change will happen in 2021. It will be interesting to see how the NFL, NHL, MLB, & NBA shift to social. #SMWChicago #SMWAdaptly
— Stephanie (@S_Hilger) November 17, 2016
For leagues to grow globally, they need global distribution partners like Twitter and other tech companies.
Expect Facebook and others to build apps for TV and live stream premium content. #SMWAdaptly #SMWChicago
— Jessica Sabbah (@jsabbah) November 17, 2016
If/when premium content distribution rights change hands, traditional TV model will collapse & tech industry will reinvent it. #SMWAdaptly
— Jessica Sabbah (@jsabbah) November 17, 2016
Megan advised brands to dip their toes in paid social little by little through testing or lose a huge chunk of audiences they want to reach.
Advice to brands from @MPresslak: "Carve out dollars to test. Be okay with not knowing everything always. Dip your toes in." #SMWAdaptly
— adaptly (@adaptly) November 17, 2016
Kauffmann ended the panel with a similar recommendation for brands to allocate marketing dollars to testing.
70-20-10 Budget Rule:
70% = channels proven to work
20% = channels that may work
10%= playing and experimenting#SMWChicago #SMWAdaptly— SMW Chicago (@SMWchicago) November 17, 2016