Facebook will command the majority of social media ad budgets for advertisers—they will dedicate almost half of all marketing budgets to Facebook, with 71% saying that spend will increase from last year, according to new research from agile marketing firm Kenshoo, in partnership with direct response agency OrionCKB, which have released a new report, 2016 Holiday Advertising Survey Report. The survey polled top e-commerce and retail advertisers on their ad spend plan to maximize revenue during the upcoming holiday season.
New ad types also present new opportunities for advertisers, providing increased ad engagement and interaction. “The holiday season is the most competitive time of year to try to stand out in social feeds, so for the 60% of advertisers whose primary goal is direct response, it could be a good strategy to diversify and test all different types of ads—especially video—to see what will get shoppers’ attention,” said Scott Briggs, co-CEO of OrionCKB, in a news release. “The true test will come if one type of ad will start to perform best; it’s important to keep some level of agility to capitalize on that and go ‘all in’ to really maximize spend during the Q4 sprint. The payout is almost always substantial.”
While Facebook will command a larger share of retailer’s social media ad spend, the two most important ad types for holiday marketing programs come from Google. More than 74% of those surveyed said that Search Keyword ads are very important to their holiday marketing programs, while 61% of respondents cited Product Listing Ads as important. Since search is intent-driven it will continue to play an important role in e-commerce and retail holiday programs.
Additionally, the survey shows the importance of omnichannel and omni-ad-type strategies. “Many sophisticated advertisers focus on customer acquisition strategies that go beyond retargeting,” said Will Martin-McGill, chief strategy officer at Kenshoo, in the release. “They use lookalikes and pull data from other channels to create new audiences in Facebook.”
Source: PR Newswire; edited by Richard Carufel