Those brand owners who have been in business for some time know that while it’s important to drive sales, it is also important that consumers hear from their brands frequently. Without this type of activity brands will be soon forgotten and their market share eroded. Established brands also know that when it comes to their marketing budget, there should be one pot set aside to increase sales and another pot for increasing brand awareness.
Earlier this month at the Advertising Week Europe, we heard from Ted Baker and Grind coffee how they used the power of Facebook advertising in order to increase brand awareness and expand market share during the challenging conditions of the last 12 months. Specifically, they took advantage of Facebook Discovery Commerce, which is a type of advertising on Facebook that sits closely with brand awareness advertising. While there is the overarching goal to increase sales for the client, the primary focus on this type of activity is for brands and their products to be discovered by consumers; and to be in front of prospects at a time when they are engaged with content. Facebook helps advertisers to use their ad technology to anticipate customers’ needs matching their products with those most likely to desire them. This offers frictionless shopping with fewer taps. For customers, it’s serendipitous. For us, digital marketers, it’s the key to turning discovery into demand, and growing our clients’ businesses.
Precise targeting and knowing the audience segments are the conventional ways to reach potential buyers, in contrast Discovery Commerce encourages open targeting and allows Facebook ads auction to work in order to reach the right audience for advertisers.
If you are unsure whether Facebook Discovery Commerce would be the right paid media approach for your brand, my advice is to set a test budget and run an experiment to see if there is benefit for your business. That’s the only way to know for sure.