Facebook recently had one billion users log in on a single day (yes, that’s billion with a “b”). Let’s put that into perspective: We’re talking one in seven people on planet Earth are active Facebook users.
With this major milestone comes increased competition for retailers with business pages. Pages are no longer just competing with one another for consumers’ attention. They’re also competing with the friends and family of other Facebook users — and now news feed preferences. If you haven’t heard, users now have the option to prioritize the friends and pages they’d like to see first in their news feed.
With 2.5 million advertisers using Facebook, individuals and businesses continue to connect more and more through Facebook. And as a direct result, the more people and pages sharing content, the more competition there is for real estate on the news feed.. Brands need to continue to work hard to create unique, entertaining content people want to see in their feeds. The good news is that Facebook released three features during Q3 that will make digital marketers’ lives a bit easier.
Let’s explore these recent Facebook changes that can influence your page tactics, and look at the retailers that — despite the increasing competition — saw exceptional audience growth during Q3 2015. For more background on the charts below, read this introductory blog post.
CHANGES THAT AFFECT YOUR PAGE STRATEGY
Constantly evolving and forever adjusting to consumer behavior trends, Facebook continually rolls out new features for its users, which can affect the way you manage your Facebook page. Listed below are three updates from Q3 and how they’re set to affect retailers.
1. New CPC Measurement
Overview: Facebook updated its definition of cost per click (CPC) to account only for clicks that directly apply to advertising objectives — like clicks to visit another site or install an app.
Details: Historically, Facebook charged advertising clients for any clicks on their ad — even click actions such as Likes, shares and comments. The social network claims this update is intended to help advertisers better understand how their ads are performing.
Retailer Opportunities: Advertisers are likely to see better return on advertising spend, since they’ll be paying for only the most valuable outcome.
What You Should Know: As a result of this change, some campaign reporting metrics related to clicks may look different. By excluding Likes, shares and comments, CPC may increase but will also become more valuable as it counts only the clicks you want. Similarly, it may look like your click-through rate (CTR) has decreased — again, this is because the CTR will no longer factor in the additional (unnecessary) clicks.
2. Business Pages Get a Facelift
Overview: Facebook updated its pages to help businesses build a mobile presence and make it easier to communicate with customers.
Details: The remodeled pages include prominent call-to-action buttons (e.g., “call now,” “send message” and “contact us”), new page sections to promote services or products, as well as an improved page layout so information is easier to find.
Retailer Opportunities: With the Shop section of the page, retailers have the ability to showcase their products directly on their Facebook page.
What You Should Know: As people spend more time on mobile, they expect information to be available at their fingertips. No matter if you’re an apparel company, toy store or an automotive shop, you’ll be able to take advantage of these new page features to house the information people are looking for and communicate better with your customers.
3. New Dynamic Product Advertising Features
Overview: Facebook has rolled out new features to its dynamic product ads, including a cross-selling functionality, conversion optimization and availability in the Audience Network.
Details: Facebook advertisers are now able to show related products to people who purchased items. Advertisers can also show product ads to people likely to buy (not just click), as well as connect with shoppers off Facebook.
Retailer Opportunities: Retailers can use Facebook dynamic product ads to connect with website and mobile app shoppers with even more meaningful and relevant product messages.
What You Should Know: We support Facebook dynamic product ads! As of our Autumn Release, you’re now able to manage the functionality of your Facebook campaigns from both the ad and and group level, as well as preview the ad while it’s being created.
TOP 25 FACEBOOK PAGES
We’ve hand-curated a database of over 500 online retailers with Facebook pages. We’ve been tracking their fan counts for the last three years and have realized that there’s an abundance of insights to learn from that data.
From our list of 500 retailers, the chart below lists the top 25 by total fan count at the end of Q3. Notice the decrease in page Likes, as discussed previously.
(We’ve color coded this so that blue shows a move UP, orange shows a move DOWN and a lack of color indicates no movement.)
TOP 25 PAGES WITH THE MOST GROWTH
The following online retailers added the most fans during Q3.
TOP 25 PAGES WITH THE MOST GROWTH BY PERCENTAGE
Finally, let’s take a look at fan percentage growth for online retailers with more than 2,000 fans during Q3.
A Facebook business page isn’t something that you can glance at every once in awhile — it demands continuous attention, engaging content and the ability to adapt. If executed properly, a well-managed page can be an impressive platform for introducing, promoting and growing your brand.
As always, look for our update next quarter, when we’ll share the latest Facebook changes that you need to be aware of, as well as announce the top 25 retailers of Q4 2015 that have successfully grown their business page audiences.
Blog post by Jordan Nowlin, social media and blog manager, ChannelAdvisor