Looking at the transformative powers of social media on pretty much any industry has been a complex task. With the difficulties in measuring results, Facebook has decided to storm into the heart of the industry in Cyprus and elaborate on the merits of running campaigns on the world’s most valuable social media network.
For more and more forex and binary companies the channel becomes the key driver of their growth. Executives and marketing professionals willing to use the platform to its full potential may learn how to do it during the upcoming Facebook Bootcamp in Cyprus on October 14th, highlighting various aspects of what the platform has to offer and demonstrating its cooperation with brokers such as IG Group, IQ Option and Forex Club.
Social media’s role in today’s marketing cannot be overstated. Facebook alone reaches more than 1.71 billion people worldwide. Instagram, which will also be present, is an answer to the growing role visual content plays in marketing. At the same time, both platforms respond well to another important trend in advertising – the rise of mobile.
Every 5th minute spent on mobile devices is spent on Facebook or Instagram. People statistically check them 14 times a day.
Looking at how these numbers can be most effectively used by companies in the trading industry, Finance Magnates spoke to Lukasz Leoniewski, Client Partner leading Financial Services team at Facebook.
What are the reasons that mobile advertising on Facebook is effective for binary options/forex?
We receive constant feedback from our partners, that they are very satisfied with life-time value of traders acquired from Facebook. It has its roots in precise targeting methods of our platform – our accuracy is 85% vs. 65% internet targeting accuracy on average.
At Facebook we’ve been working to provide marketers with the proof they need to know their ads work – beyond the click.
We now have systems in place to prove our advertising achieves their business objectives. Facebook news-feed is a discovery experience, so it’s very efficient place for brands to present their value to potential clients. It is very important to remember that people are their real selves on Facebook, which means marketers can more accurately reach the people most interested in their product or service.
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We have the measurement tools and data partnerships in place not only to show marketers that their ads work, but also to provide them with insights on how they can improve future campaigns.
How is Facebook tackling the phenomenon of fake profiles clicking on adverts in order to generate fake leads?
First of all, it must be stressed that we treat such issues very seriously. Actions created by fake accounts or people without real intent are bad for people on Facebook, advertisers and Facebook itself.
Our abuse-fighting teams build and constantly update a combination of automated and manual systems that help us catch suspicious activity at various points of interaction on the site, including: registration, friending, liking and messaging.
We also monitor viral content for its authenticity, including content created during elections. We write rules and use machine-learning to catch suspicious behavior. When we catch fraudulent activity, we work to counter and prevent it – including blocking accounts and removing fake likes.
At the same time, we need to understand that there is no direct link between clicks and the majority of sales. Focusing on the last click is like giving credit to the sign outside of your store for driving all of your sales.
A recent study showed that on average, if you look at people who saw an ad on Facebook and later bought a product, fewer than 1 percent had clicked on the ad. Digital isn’t just about driving a fast click or immediate purchase; it’s also a powerful way to ring the cash register in store or drive an online sale days later.
What are the best practices to combine paid ads campaigns with organic social media publications?
Organic publications in social media usually have reach not much higher than fans of a specific page, whereas paid ads allow advertiser to reach clients at a bigger scale. Our Bootcamp in Cyprus next week will showcase what we believe is the most successful targeted solution for brokers.