There is a common theme with clients that I see time and time again. What is it you ask? “More new customers!”
This request is accomplishable, albeit harder these days than even a year ago. How you go about it is where strategies differ. So how does one accomplish the request of “More new customers”?
With Video View Campaigns.
What Are Video View Campaigns?
Video View Campaigns are centered around bidding for video views, which is a video playing for 3 seconds according to Facebook, and with video being so prominent these days around the internet, it’s no wonder that Facebook is pushing for more videos on its platform. While bidding on cost per video view is cool and all, it isn’t the main reason why I say that this type of campaign is the best for finding those new customers, rather the cost per 1000 people reached and CPMs that really push these to the forefront of any strategy.
The following are two simple charts that show my case for Video View campaigns when accomplishing the ultimate goal of more new customers.
1. Cost per 1000 people reached (CPM-R)
Taking a look back at the last 6 months of 2017, this graph shows the cost per 1000 people reached in a Video Views Campaign (the orange) vs Static, or bidding for purchase conversions (the blue). The targeting was very similar: A mix of Lookalike audiences and Interest-based audiences, while the outcome was different.
Overall CPM-R for Video Views: $9
Overall CPM-R for Static Conversions: $12
This means that for every $1000 spent, Video Views would allow you to reach almost 28,000 more people than Static Conversion campaigns. That’s a lot of people in a new customer outreach!
2. Cost per 1000 impressions (CPM)
Same as the previous chart, the audiences are roughly the same between these, as are the trends. Starting more expensive, Video View campaigns continue to get better or steady while Conversion campaigns continued to creep up throughout the year.
Overall CPM for Video Views: $7
Overall CPM for Static Conversions: $9
This means that for every $1000 spent, Video Views would allow you to serve almost 32,000 more impressions than Static Conversion campaigns. That’s a lot of impressions in a new customer outreach!
With outreach on social media and Facebook, in particular, reach is the name of the game. Without it, you are going to serve ads to the same people all the time, leading to more expensive CPMs, higher frequencies, and just overall more expensive. With Video View campaigns, you can reach potential new customers for 1/3 of the cost.
Curious how else you can use Facebook to drive your ecommerce goals? Read our helpful guide!