The holiday shopping season is already well underway for opportunistic retailers looking to snag early shoppers and strike on Facebook before CPMs (cost per thousand impressions) increase, according to a recent study by marketing solutions provider SocialCode, a Facebook Strategic Preferred Marketing Developer.
The company also analyzed aggregate digital advertising data from its clients, finding that News Feed CPMs on Facebook rise incrementally throughout the month of November and spike on Black Friday and Cyber Monday.
SocialCode also cited research presented by Facebook during Advertising Week 2014, saying that 65 percent of shoppers access mobile devices while they are in stores, and adding that Facebook internal data shows that 32 percent of U.S. Facebook users who expressed interest in mobile Facebook ads ended up becoming conversions on desktop within the next 28 days.
The company added:
When it comes to advertising, Facebook mobile News Feed CPMs from the fourth quarter of 2013 show Black Friday and Cyber Monday peaks sandwiched between lower CPMs. Brands can increase efficiencies with both awareness and direct-response messaging on mobile as Thanksgiving approaches, and introduce more intensified sales messaging during and after the major purchase days.
With Facebook’s recent introduction of cross-device reporting, which surfaces how users moved between devices before converting, advertisers can understand better how mobile catalyzed purchases independently, both on the Web and offline throughout the holiday season.
Finally, SocialCode offered the following tips for retail marketers on Facebook:
Work around CPM spikes: Black Friday and Cyber Monday are growing into a quarter-long phenomenon. Instead of thinking about these days in a silo, advertisers should capitalize on lower reach costs and high consumer engagement before and after peak days.
Join the crowds … for the right reasons: Assess whether throttling up spend when competition for direct sales is highest will be justified by high return on ad spend. Implement all creative and audiences learning gained throughout October and November to scale efficiently.
Recognize mobile opportunities: Capitalize on the mobile News Feed to build awareness for promotions taking place on highly competitive days. The pre- and post-holiday CPM lulls present opportunities for mobile conversions, as well.
Put significant resources into cross-device reporting: This year, mobile will drive more impact than ever. Luckily, advertisers have unprecedented opportunities to quantify exactly how. Put significant analysis into Facebook’s cross-device reporting to assess how mobile is driving direct conversions and lowering audiences down the purchase funnel.
Retailers: How deep are you into your holiday shopping season planning?