Now on its 15th year, Facebook was the first social media networks of its kind and is still as popular as ever. It’s hard to find someone who doesn’t use the platform – unless it’s in a staunch and usually short-lived rebellion. Marketers love Facebook because of how accessible its users are, as Facebook has more than 1.44 billion monthly active users worldwide. Some quick math and we learn that over 20 per cent of the world’s population is on Facebook.
While somewhat shocking, it’s actually where Canadians spend much of their free time. The newest report comes from the social media giant itself, reporting that people spend 20 minutes a day on the site, and spend 50 minutes on Facebook and Instagram (which is Facebook-owned) combined. comScore Canada reported in a 2014 survey that the average Canadian spent almost 75 hours a month on a desktop, laptop, or mobile device. That’s 2.5 hours a day of watching, reading, scrolling, liking, and maybe commenting here and there.
So we now know that a lot of people are on Facebook and people are choosing to spend time on it every single day. This is precisely what makes Facebook marketing so efficient – because you can target Gen Z to the ‘boomers with ease and accuracy. Marketers and businesses are tapping into this, and you should too. The best way? By introducing video into your next Facebook marketing campaign.
1. Videos attract more engagement and reach further than photo posts
It’s a well-known fact that video usually preforms better across most marketing mediums, so it’s no surprise that video attracts more engagement and reach than still image posts on social media.
A 2014 study from Quintly found that while photos make up more than one-half of the total content on Facebook, the average photo post gathered about 1,358 interactions. Videos ranked the highest for interactions of Facebook, with the average video earning 2,183 interactions. So, the interactions on an average Facebook post should increase by about 61 per cent using video, according to Quintly.
The surge in popularity of GIFS, which are moving photos on Facebook, and Boomerangs; short, looping videos that are special to Instagram, are also interesting to me. As a recent addition, there isn’t much data on how effective they are, yet every blog or social media expert says you needed to start posting them yesterday. While video’s engagement rates make sense to me, I’m keen to to learn more about the impact of these moving images.
According to Social Bakers, video posts have 135 per cent greater organic reach than photo posts on Facebook. This statistic was from 2014, so I had to double check with Toronto social media marketing agency, Atlas Communications. After some number crunching, Atlas informed me that from their estimates, it looks like video has more of about 70 per cent greater organic reach than photo posts – which is still impressive. As far as engagement goes, video posts earn roughly 88 per cent more engagement than stand-still posts.
2. Earn better results with your advertising dollars
I talk about return on investment (ROI) a lot on the blog, but because it’s a metric that matters to me and my clients. However, ROI can difficult to measure using Facebook advertising because it can mean different things for different companies.
For example, a great return on investment for a business that only wants to build awareness on the platform may be a great engagement rate, or a certain number of likes. It really just depends what you are trying to achieve. (Note: to find your engagement rate on Facebook, follow this simple equation: people who liked, commented, shared, or clicked on your post / people who saw your post.)
With that being said, let’s talk about the cost per click of video ads compared to non-video ads. According to most articles online, video ads on Facebook will give you a much better ROI. For example, Digital Marketer, wrote that the average cost per view they see for video ads is about $0.01-$0.06.
Again, I wanted to get a second opinion from the social media experts over at Atlas because of the surprisingly little research out there. A video post for an Atlas client can cost between $0.004-$0.06, so slightly less but still in line with what Digital Marketer had previously written.
The cost per click of non-video ads will vary from company to company, but can cost as much as $.10-$.40 a click. Of course, there are a ton of factors that play into this, including market and target audience. But still, these findings suggest a 566 per cent cost increase between the cost per click of a stand still ad, compared to a more cost-effective video ad.
3. Your competition is already doing it
If you haven’t started advertising on Facebook yet, I hate to say it, but you’re officially behind the curve. Facebook first introduced ads in 2013, and they’ve come a long way since then – becoming one of the most advanced ways to advertise in the digital age.
According to Facebook, over 3 million businesses actively advertise on the platform. While there isn’t any data to tell us the number of those businesses that use video in their ads, judging from what we’ve now learned from this blog – it’s a smart move. Now, let’s look at a couple of companies that are using video on Facebook really well.
Remax: The real estate company is a Facebook video pro, with short, fun video clips that are quite simple to create. In fact, video makes up about 1/3 of everything they post to their Facebook page. Real estate should be one of the top industries focused on video and Facebook advertising, since the product and service is highly visual.
Staples: A lot of people don’t know this, but Staples is incredibly social media-savvy. It’s not the most exciting brand, but they somehow manage to make office supplies look interesting. Almost every post from Staples is a video highlighting a new product, or an organizational tip.
How can you do it better than your competition?
If these companies can grow using video advertising on Facebook, then there’s no reason not to try it out, too. You don’t need a videographer, a professional set, and a massive marketing budget. All you need is some creativity and maybe a little bit of consulting on the best way to make your video work.
The greatest thing about marketing in the digital age is that it’s accessible to all. If you want to see real results from your Facebook advertising, it’s time to introduce video.
Wondering how you can make an awesome video to advertise on Facebook? Talk to a professional. Contact b-Mc creative today.