The advertising ecosystem has fundamentally changed for performance marketers. The evolution of data policies requires companies to expand their strategies to reach, understand and convert customers. At the same time, artificial intelligence and machine learning are transforming digital advertising, allowing marketers to move from buying placement and buying audiences to results.
While these changes and uncertainties have been challenging, high-performing advertisers have adapted their approach and found greater success in mitigating these new conditions. While prioritizing marketing audiences may yield short-term results, this shift is being driven by marketers realizing that reach and performance strategies lead to higher sales growth in the long term. In fact, in 40 conversion studies, we saw an 87% correlation between increasing audience size and increasing purchases.
The strongest companies were born out of the discovery that it was not enough to market to the people who were already interested, this is the execution of a strategic idea 5. Below are five ways that allow businesses to unlock their full marketing potential.
Simplify your account structure
In the past, it seemed more efficient to target a campaign or advertisement to each customer segment. Currently, this can be limited by artificial intelligence tools. Simplifying your account structure with a single campaign by targeting all ad sets to all customers allows AI to learn faster and deliver more effective results.
Increase productivity automatically
Complete automation solutions like Advantage+ Meta Shopping Campaigns and Advantage+ App Campaigns help maximize results by creating the most powerful settings for audiences, budgets, placements, creatives and conversion points. We saw an average CPA increase of 17% in Advantage+ shopping campaigns, and an average CPA increase of 26% in Advantage+ in-app campaigns.
Create different creations.
Innovations need to evolve and do more to introduce unfamiliar products and products to new audiences. Expanding your creative approach with new formats and sizes will increase campaign effectiveness. In our research, we found that duplicating creative leads to 9% more reach and 32% more conversions.
An example of the power of creative differentiation in action is the cosmetics brand MAC. The company has launched a content campaign targeting Generation Z, Meta, with a variety of content creators covering different content types, including Rails. These efforts led to an 11 percent increase in brand awareness and an 8.5 percentage point increase in purchase intent among 18- to 34-year-olds. This success brought about a lasting change in the brand's approach. "Since the launch of the campaign, we have continued to use this structure in all campaigns to reach a wider audience," said Erica McCarthy, director of consumer marketing for MAC Cosmetics.
Check data quality
High-quality data is increasingly critical to campaign success, especially as performance marketers seek to maximize effectiveness by capturing new targeting signals generated by new audiences. The Conversion API is critical for MetaPlatform advertisers. With these tools, marketers gain the ability to reliably improve measurement and targeting, as well as leverage deep funnel actions.
Measure more sales.
As performance marketers adopt new strategies, such as increasing reach, it's important to measure leverage, which is the additional business value created as a direct result of each marketing effort. By focusing on additional metrics like last click or internal attribution models, advertisers can better understand what's driving results.
How can you improve the performance of 5 for better results? One way forward is to optimize the performance by determining the right time to measure with focused coverage. New audiences are critical for advertisers who have reached or are close to reaching saturation, meaning they are targeting the same people whose performance investment is declining.
Align delivery strategies with sales and performance goals, and compare results over time against traditional approaches. By looking at the impact on specific metrics like conversions and awareness, you can see the impact of increased reach on your cost performance. Advertisers will find that activating Reach campaigns before they peak, before they're fully loaded, will yield better results across a range of KPIs, including intent, search volume and retargeting signals.
How do you see your campaign's performance in terms of advertiser reach? One of the companies that has adopted this strategy and adapted to the new advertising ecosystem is Pandora, one of the largest jewelry brands in the world. As part of its evolution, Pandora has developed a meta-technological approach that combines reach and performance goals and delivers innovation to new audiences.
Thanks to these efforts, the brand has increased efficiency and profitability. After adding an outreach campaign to its performance strategy, Pandora increased its reach by 148%, doubled the number of retargeting audiences, and reduced its cost per conversion by 73%. "The growth of the marketing base comes from reaching new consumers," said Casper Moll, head of global paid social for Pandora.
Taking a Performance 5 approach and focusing on increasing reach versus volume can seem daunting to busy marketers. However, making an effort to do so can have great results, helping to increase interest, attention and conversions. After all, the business can build lasting success.
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This post was created by Meta in partnership with Insider Studios .
