Success with social media marketing has long been measured in terms of user engagement. People viewed shares, comments, and likes on Facebook as proof that a brand was connecting with potential customers. Marketers leveraged the targeting tools within the Facebook advertising system to reach people from various demographics or locations or who had shown interest in certain products or activities. CEOs at large companies, however, are increasingly more interested in sales instead of engagement. This managerial outlook has now brought attention to Facebook’s purchase behavior targeting option because it focuses on people who actually buy things.
How Purchase Behavior Targeting Works
Facebook includes a “purchase behavior”
option when setting up ad targeting. The social media platform collects
information about its users who have paid for items on Facebook. In this way,
marketers can expose their messages to people who are proven to be buyers
instead of other Facebook users who may like and share things that interest
them but never buy them.
Third-Party Payment Data Integration
The payment data collected directly by
Facebook is admittedly limited. However, robust Facebook advertising campaigns
can be developed by injecting data from third-party internet payment processors.
Payment processors are increasingly entering the big data market and making
their valuable insights about buyers available to marketers. The technology to
integrate outside buyer data with Facebook ads offers an opportunity for
companies to increase their ROI and measure success in sales revenue instead of
social media users’ interaction with any given ad or post.
Metrics other than sales have ceased to
impress company leaders. They want their marketing teams to separate behavior
within social media platforms from purchasing behavior. What people do on
Facebook does not appear to predict what they will buy. A survey by Bango of
200 CEOs emphasized this point. Among respondents, 62% had concluded that their
social media budgets were wasted on chasing likes and followers.
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