Like with this Coronavirus reality in which we’re living, the person you’ll save with your precautions is probably someone else. For all of my auctioneer friends who’ve been posting about getting the economy going again to save businesses, I’d look at your potential to help the auction industry do just that in the long term.
While photo-based ads typically outperform video and slideshow ads for my clients, I have seen videos deliver significant website traffic for some auctions. If you do reminder ads to pixel traffic, a slideshow or video can add value by mixing some variety into your second interaction with potential buyers. If you’re using video on your website, anyway, it’s worth experimenting with video ads and even A/B testing them with photo-based ads. Your videos will perform much better both in those tests and in general, if they follow the following guidelines.
The more important questions to ask are:
• How am I adapting to the changing buying culture?
• What has my experimentation and analytics shown me recently?
Marketers who don’t continually ask themselves those questions will eventually be replaced by those in companies who do. That should worry every auctioneer far more than the future of Facebook.
Mark Zuckerberg took days to respond to the uproar online and on TV news networks so that he could follow the advice of J Daniel Atlas, the protagonist of Now You See Me, a flick that featured illusionists plying their craft to perform Robin Hood-type heists: “First rule of magic: always be the smartest person in the room.” Zuckerberg offered an olive branch to the media, the government, and Facebook users. Along with that he secured Facebook’s place as the most advanced, intuitive platform for advertising for the foreseeable future. Even Terry Benedict’s casinos aren’t sophisticated enough to have seen this brilliant move coming. But now your company is. You’re welcome.
Zuckerberg’s agenda is just a continuation of a trend. Organic reach has been gradually dropping for years. For most business pages, unpaid reach has dropped below 50%—and in many cases below 25%—of the people who at one point liked those page. Facebook has been testing zero organic reach in six foreign countries. It’s reasonable to assume that we’re months—not years—from zero or near-zero organic reach here in the States.
Facebook rookies seem to believe that there’s a set, static amount—or some price grid—that Facebook charges for results; and they seem to think I know where to find that grid. It makes sense: other media are sold that way. Sadly, though, neither of those assumptions are correct. That said, we can learn to make educated guesses. I’ll tell you what I recommend per campaign, but first I want to show you how I arrive at that suggestion.
More to the point: all of my clients work on speculation. They take projects not knowing how big their paycheck will be or, in some cases, whether there will even be a paycheck on the other end of the deal. That takes some serious guts, a risk-taking ability I don’t have.