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Vantage Media: How Facebook is changing engagement
According to recent data from the Vantage Media Consumer Engagement Index targeting isn't just about the product any longer. It's about the product, the consumer and getting the timing right. The study also indicates that Facebook is changing not only customer engagement but targeting.
Perhaps the most interesting finding was the Facebook test, which indexed at 92 [on a 100 point scale] - compared with search that indexed at 100. [This shows] the importance of targeting the right person with an ad to see the highest rates of conversion from consumer to customer," said Patrick Quigley, CEO, Vantage Media.
Video, meanwhile, performed low - with a 0.5 index for the study, which Quigley says points to video's current ineffectiveness.
Given that Facebook indexed so high, is the social network really changing the online ad game? Possibly, says Quigley. But, he says the key is still targeting.
"[Facebook] has essentially become a digital media source where consumers willingly share personal information that can then be used to target them with advertising. Plus, Facebook's innovation in advertising and reaching consumers is continuous. While standard advertising through the Facebook newsfeed indexed extremely high, I think that Facebook Exchange - a platform that retargets consumers through ads on Facebook - will continue to drive the evolution of Facebook as a major digital media publisher that provides results for advertisers," said Quigley.
One more reason to take the social network seriously as an advertising medium: people using Facebook aren't necessarily in a hurry. Quigley points out that in many cases, people on Facebook are taking their time, reading content or watching videos as well as engaging with friends and even brands.
"They are likely looking at the website in a leisurely manner and have the time to commit to clicking on an ad and making a purchase," said Quigley. "This especially makes sense when it comes to purchases like auto insurance, which is the product we tested for our index. With that said, I think the one problem that Facebook still faces is targeting consumers at the right time. While it's highly effective at targeting the right person, it doesn't always provide information about a consumer's propensity to buy right now. This is a piece of the consumer engagement puzzle that still must be figured out."
Image via Shutterstock
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