Insights from Depesh’s FB rep. CBO strategy for sweet ROAS
FB is steadily updating its platform, and Depesh Mandalia has shared some unofficial insights from his rep. Another strategy to shut down FB advertisers’ fear for CBO.
Updates from my FB rep: Depesh Mandalia shares some imminent changes
What’s hot in the pot?
Depesh Mandalia shared some insights that came straight from the horse’s mouth. Okay, maybe not the horse’s mouth, but at least from his FB rep about the latest updates on the platform.
Some of them have already been shared in one of our previous emails. So, we’ll just talk about the new ones.
July 2019 highlights
- New framework for protecting privacy: FB reached an agreement with the FTC that will change the way FB gathers users’ data.
- FB will reveal even more information to people when they click on the “Why am I seeing this”.
- Insights tool from Facebook IQ to fuel your holiday season campaigns.
Preview of expected August 2019 product updates: There’s a list of features that are still in development below.
- Transparency and integrity updates: There will be more enforcement for housing, employment and credit ads. There have already been restrictions regarding these ads (targeting restrictions), but by December there will be even more.
- Messaging updates: We already talked about this during F8. After some delays, FB plans to introduce a new template to Ads Manager within the Messages campaign objective, which will allow advertisers to qualify leads in Messenger via an automated question and answer flow.
- Stories update: FB is introducing new templates in Ads Manager that helps the conversion of feed creatives for use in vertical stories.
- Store visits optimization on Instagram: FB is expanding the availability of store visits optimization to Instagram feed and Instagram Stories.
- Downloadable conversion path reporting in Facebook Attribution: Facebook will provide conversion path reports for download, meaning that advertisers can learn which publishers helped contribute to conversions at various stages in a consumer’s conversion path.
That is all. You can jump to Depesh’s post here to get more info.
Just another CBO strategy: Cutting costs by 30%
Still worried about CBO? Well, you shouldn’t be! We featured many CBO strategies lately, so if you’re still confused go visit our archive and give them a good read.
But first, let’s look at the latest one shared by Monish Yerramsetti.
Step 1: Create Custom Audiences and Lookalike Audiences from the following sources:
- 28 days – Purchased Users
- 28 days – Purchased Value > 90% of Others
- 28 days – Add Payment Info at least 2 times
- 90 days – Purchased at least 2 times
- 90 days – Add Payment Info at least 3 times
- 180 days – Purchased at least 3 times
Step 2: Select the top performing 3-5 creatives.
Step 3: Identify a sweet spot for your campaign budget. This varies from client to client, depending on factors such as spend, ad account data etc.
Step 4: Launch a CBO campaign with the identified budget. Each campaign will consist of 4 identical ad sets with one of the above LLAs, using the 3-5 ad creatives selected first. So, you will have 6 campaigns.
You can start with 1% LLAs, but can move on to testing different LLAs sizes in different campaigns.
Step 5: Turn off bad ad sets and bad campaigns
Step 6: Identify the best performing campaigns according to your KPI and launch Cost Cap (Manual Bid) campaigns for the sources that are consistently delivering good results, with bids ranging from 75% CPA to 125% CPA. If the results are good, scale the budget.
Step 7: Launch 10% LLA campaigns for the audiences that are working with auto bid. If they deliver good results, apply step 6.
Finito! There’s the whole strategy. Monish states that this strategy helps him to constantly scale while also cutting costs by 30%.
Hopefully it’ll benefit you just as much!
PPC account migration checklist
On-boarding a new client can be a difficult experience for both the client and the agencies involved. The transition isn’t always smooth and often happens in less than ideal circumstances.
For those of you on the new-agency end, here is a checklist shared by Jim Banks to make the migration as smooth as possible.
As Jim mentions, it’s a detailed checklist, but not an exhaustive document. Apart from this, you will still need to set up your own internal processes customized for each type of client and situation to make sure nothing is missed out.
Additionally, John Ho added a tool about Google Data studio audit which might be helpful for reporting purposes when taking over an account, or even for your existing accounts as well.
You can download the doc here.
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- BONUS: 10 Reasons Why People Fail Native
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Indexing bug update
Vincent Courson, from Google Search Outreach, published a full report detailing Google’s recent search indexing problems, how it recovered and the lessons they can learn from it.
It also talks about the recent issues with indexing new content, a similar problem from last May and the de-indexing issues from back in April.
Apparently, Google lost a part of its index in April because of a deployment issue.
“As we pushed some planned changes to the Search index, on April 5th parts of the deployment system broke, on a Friday no-less. More specifically, as we were updating the index over some of our data centers, a small number of documents ended up being dropped from the index accidentally.
Hence, we lost part of the index.”
Google accidentally dropped some pages from its search index on April 5th as it was pushing out an update to its data centres.
It was a small data set, but not small enough to go unnoticed by the SEO community. In fact, Google acknowledged that the social media chatter helped them become aware of the problem.
The issues were fixed on April 11th, but it had already created a number of related errors that started showing up after that. These indexing issues also created data anomalies in Search Console, as that data comes directly from search index.
Eventually, Google had to pause updating the Search Console database while it was fixing the error with its search index.
You might see some notes in your Search Console about the data inaccuracy issue along with a link to the data anomaly page.
Going forward, Google plans to make some key changes to how it communicates with site owners about indexing issues:
- A central hub will be created in Search Console where the latest information about widespread bugs will be communicated as quickly as possible.
- For issues with a long term impact on data, more frequent updates will be posted to the data anomalies page in Search Console.
- More frequent tweets to inform webmasters about such issues.
Creating smarter customer journeys: Microsoft Report
Microsoft recently conducted a series of interviews and an online survey of marketers and agencies across more than 200 companies of all sizes and industry verticals.
The idea behind the study was to assess modern marketers’ maturity on understanding and marketing to the customer journey, and to use this to define a blueprint for success.
They published the results in an eBook, which details the traits of a top-performing marketer and a blueprint for marketing success to help you up your game and join the ranks of the elite marketers.
Here are some stats from the report:
- Forrester predicts that CEOs fire at least 30% of their CMOs for not having the right skill set needed to drive digital transformation, design exceptional personalized experiences, and propel growth.
- Only 20% of marketers know how to capture and leverage customer decision journey (CDJ) insights to improve their marketing performance.
- 80% of marketers from the survey were struggling to combine data, leverage the cloud or even to define clear objectives.
- 86% of high performers already have a leader in place, carving the path toward customer-centric marketing.
Blueprint for marketing success
Unify data in the cloud. Use cloud solutions to unify and secure your data in the cloud. Unify the marketing, sales and service teams to gain a closer understanding of your customer data, boost speed-to-market and efficiency, lower costs, and increase ROI, data security, and customization.
Ensure high quality of data. First-party data from purchase history, customer support records, and CRMs can be a goldmine. However, if you don’t have high quality base data in the first place, machine learning and AI won’t be able to help you.
Consolidate your first and third-party data. Remove the blind spots in your first-party data with data from trusted third parties to establish a single platform with one view of the customer.
Use predictive analytics. Using predictive outcomes, you can take performance measurement from activity-level, static-funnel metrics towards predictive metrics that are better aligned to your business outcomes. Tools such as Azure Machine Learning Studio can help to reduce the time to market and expertise required.
Enhance engagement with AI. Use AI to drive personalization, boost customer engagement, and create additional touch points that generate more data. Use this data to generate deeper insights around the brands customers are already considering, the products they’re looking for, and when they’re most likely to convert.
The eBook, again shared by Jim Banks in his FB group, contains many more insights and extensive stats to give you more information about what makes a high-performing CX level marketer.
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Ooops, Oreos prank gone wrong
Do you like Oreos? Stupid question. Who doesn’t, right?
What about Oreos with toothpaste?
Weird question, eh? Well, maybe you’ve just never heard of the toothpaste-filled-Oreo prank.
It’s a prank that went viral on the interwebz, and if you go on Youtube and search for it you’ll find many videos of teenagers tricking friends and relatives with toothpaste-filled Oreos.
However, a 17-year-old Youtuber from Barcelona decided to take this prank to the next level.
Did it work? Well, he ended up shutting down his YouTube channel with 1.2M subscribers (a business essentially), €22k and 15 months in jail.
So, we’re gonna take a wild guess here and say it didn’t work.
What did he do? He decided to do the toothpaste-filled Oreo prank on a 52-year-old homeless man outside a supermarket. Obviously, he filmed everything and shared the video on Youtube.
That happened in 2017 and last week the Barcelona court issued Ren with a 15-month prison sentence and a €22k fine for violating the “moral integrity” of the homeless man.
The court countered that he made just €2k from the video. So, if he really did it for business, well, it’s definitely a ROI-negative operation.
He probably won’t actually end up in jail, as first-time offenders who receive sentences under two years rarely serve any time.
But, at least Youtube will be free of another cruel prankster’s videos.