As ad prices on Facebook continues to grow, there is one tool of the social network that marketers are not using that well: live videos. According to Socialbakers’ data, Live videos get 10 times more interactions on Facebook. However, only 17 per cent of brands are using Facebook Live, in comparison to 60 per cent of the media publishers.
According to Socialbakers’ findings, Live video gets 10 times more engagement than native. “Facebook Live is the format that marketers should focus on today as it drives most of the engagement on social for today. One out of five videos is being streamed on social media. Live is free, organic and authentic, ” said Yuval Ben-Itzhak, CEO, Socialbakers at the Engage Bali conference in March 2018.
There are a number of formats that brands can use for live videos: behind-the-scenes, in the lab, product features, conferences and tutorials. About 80 per cent of brands experience higher reach on their Facebook live video content than native videos.
Advertising trends on digital has evolved from its early days of 1994 when targeting was the focus for marketers. “This is when personalisation came in 2000 to find more relevant ads for you. But then people started ignoring these ads too and that’s when behaviour-based targeting came in. But ad blocking and privacy concerns started rising in 2009. By 2016, a group of influencers started coming up on social media and that’s what marketers are focusing on as they are the digital version of word of mouth. Live has become the trend nowadays and just like its predecessors, it will not be in the space for too long as trends evolve quickly,” Mr Ben-Itzhak explained.
Socialbakers also found that 81 per cent of internet & Mobile audiences watched more live video in 2016 than 2015 and that behind the scenes access is a huge draw for 87 per cent of audiences. Forty-five per cent of live video audiences would pay for Live, Exclusive , On-demand video from a favorite team, speaker or performer. Seventy-eight per cent of online audiences are already watching video on Facebook Live and 90 per cent think video quality is the most important aspect of Facebook Live videos.
Selecting a format is one part of the focus for marketers, as another big question for them is to decide between the 20 different social networks available. Looking at the three main criteria for a marketer, Mr Ben-Itzhak laid out three ways to figure out the right social network for brands:
- If a marketer’s goal is reach, then they are looking for a network with the largest possible size and Facebook is the way to go for that as it has a 2.2 billion audience size.
- If a marketer is looking for a lot of content, in that case, Twitter should be the platform of choice.
- If engagement is the aim, Instagram is coming up as the platform that is driving engagement the most.
Speaking at the conference, Socialbakers Founder, Jan Rezab also reiterated this and said that the majority of advertising will be happening on Instagram instead of Facebook in the future.
Mr Ben-Itzhak also highlighted that the changes on Instagram and Facebook’s News Feed should not worry marketers if they focus on being relevant and effective in their communication strategy. “Another important factor for a marketing strategy is to understand their audience: who they are, which network are they engaging with and how should they speak with them?,” Mr Ben-Itzhak explained.
Taking its analytics capabilities further, Socialbakers also launched two of its new products at the conference: a real-time omnichannel audience platform that will connect all social networks and web traffic and focus on interests and not just demographics; and an influencer marketing platform that will show mega and macro influencers.
The journalist was invited to Engage Bali 2018 by Socialbakers.