ROI is a dangerous word when used in the context of social media. Community and relationship building, engagement are all difficult to measure by definition. Defining engagement is difficult enough…
What we are able to do however is define specific objectives on the base assumption that these lead in some way towards meeting the final aim.
So with a budget of £10, YES £10 I conducted a little experiment in the value of Facebook adverts. Using my band as the product, the overall goal of the experiment was to get more people to listen to our music. To do this it is necessary for them to go to the URL www.myspace.com/listentorapids and listen to the music there. I created an advert as follows (I know it’s not great copy but it was an experiment ok!):
I then targeted the advert at the following Facebook user demographic:
- who live in the United Kingdom
- who live in Birmingham, Bournemouth, Bristol, Glasgow, London, Manchester, Newcastle upon Tyne, Oxford, Poole or Southampton
- age 18 and older
- who like bloc party, foals, futureheads, joy division or placebo
- who are not already connected to Rapids!
So I wanted to target only those in large conurbations within the UK as these areas are where we are more likely to go and play. The age group was left as open as possible. Crucially users were targeted not only that already had an interest in music but specifically in the genre of music that my band makes. It’s no good getting people to listen to music on the Myspace if they like Metal, Classical or Jazz music for example. It was also possible to target the advert at people who weren’t already ‘fans’s of Rapids! on Facebook as what would be the point of them seeing the advert? They have already listened to our music.
Please Don’t Click!
The main point is that I actually didn’t want users to click on the ad as this would end up being costly. Facebook offers two payment structures; per click and per impression. I could have used copy that led people to click on the advert and be taken to the destination/landing page (Myspace) but then I would have been paying per click. So instead, within the main copy I included a call to action to visit the Myspace page and gave readers of the ad the URL to enter.
This resulted in 400 extra listens to our music in two days from 101,077 Facebook ad impressions of which 14 people clicked on the ad at a cost of £4.04.
Cost per listen – £4.40 / 400 = 0.0101
So hopefully my little experiment shows you that it is possible to get huge exposure on Facebook, at a targeted demographic for very little budget but still have measurable returns.