Facebook is rolling out a slate of new advertising products which are aimed at attracting the TV advertisers to the one and a half billion monthly active user base. The new ad product called TRP buying will allow advertisers to plan, buy and measure Facebook video ads using total rating point (TRP) as the metric.
The social media network has seen a growth of 25 per cent in the number of active advertisers since February 2015 and has about 2.5 million advertisers on the platform.
Facebook is looking to convince TV advertisers that they should support their campaigns with Facebook video ads, as it says in an official blog post that a Nielsen study shows that this drives incremental reach, increases efficiency and improves effectiveness. This trend was noted even more in millennials, where the incremental reach increased to 37 per cent in the US campaigns that Neilsen tracked.
Facebook’s official post highlights that the advertisers’ money is better spent on their platform than TV. It said that the Nielsen study also highlighted that across the same 42 campaigns, Facebook impressions were two times more likely to hit their target audience than TV impressions. “This means advertisers spent less to reach their target audiences,” the blog post added.
“Marketers can plan a campaign across TV and Facebook with a total TRP target in mind, and they can buy a share of those TRPs directly with Facebook. Then, Nielsen’s Digital Ad Ratings measurement system can verify Facebook’s in-target TRP delivery, and Nielsen’s Total Ad Ratings system can verify the TRP delivery for Facebook and television combined,” explains Facebook in the blog post.
Besides this, Facebook also announced a couple of updates to its ad products. It has introduced brand awareness optimisation bidding which will helps advertisers find the audiences most likely to recall their ads.
It has also partnered with Millward Brown Digital on brand lift insights for Facebook and Instagram, allowing advertisers to conduct mobile polling on both platforms. It had earlier partnered with Nielsen on mobile polling and has added this partnership with Millward Brown Digital to learn more about the impact of mobile campaigns.
Another interesting feature introduced is the addition of video to the carousel ad formats on Facebook which will be rolling out this week in Power Editor, and will expand to the Ads Create Tool in the coming weeks.