The rise of PWNED Media

Recently, I had the privilege to speak at the Dallas Digital Summit discussing the convergence of owned & paid media. The talk covered the importance of visual storytelling and the intersection of real-time paid amplification.

Tom Edwards DDS speak

One of the outputs of the presentation is a new phrase that better defines the intersection of paid & owned media. Being a gamer of course I gravitated towards “PWNED media” as the new descriptor for this emerging trend.
TheBlackin PWNED MEDIA Final

There is a consistent theme coming from Facebook regarding owned content strategies. Whether it’s a Facebook conference, on-site at Menlo Park or other interactions with Facebook team members you will consistently hear the phrase “Storytelling”.

Facebook DDS

This definitely makes sense as Facebook’s platform is organized around the generation and amplification of stories.

Storybook DDS

With this in mind, one of the more powerful elements to incorporate into an owned content strategy is visual storytelling.

Snickers Snowman

Think about this for a moment… when we were first learning to read, our parents most likely used picture books to begin to create associations between visual images and the context of the story.

Curious George DDS

The same thing still happens now as adults.

Felix DDS

A picture paints a 1000 words, images are more powerful storytellers than words. Within Facebook, timeline now showcases and rewards brands that use visual imagery to help tell the brands story.

Oreo DDS

In the past I have written about the importance of Edgerank as well as recent changes to the algorithm. In order to optimize owned content, it is important to drive engagement around that content.

edgerank

Creating engaging visual content is definitely the first step to maximize the platform, but there is another step to further drive the reach and impact of visual content.

This is where the paid portion of “PWNED Media” comes into play. Instead of having a separation between owned content & paid campaigns, there should be an intersection to drive a more efficient media spend.

Green DDS

One of the ideal methods to drive engagement both within an existing fan base and beyond is to execute real-time amplification of engaged content.

Converged Media

In layman’s terms take owned content that people are already engaging with and add it to the targeted paid inventory to further maximize the reach of content that people already find interesting.

This is done by setting a pre-determined virality rate based on the size of the fan base and a carefully calculated threshold based on engagement.

This ensures that content that users find compelling can be maximized on behalf of the brand and also serve as an acquisition driver for like-minded fans that align with the persona of the brand.

To my knowledge only 2 brands are actively executing a “PWNED Media” strategy and I lead the social strategy for one of them. If you are interested in hearing more about real-time amplification in action please reach out to me.

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Hero 4 Final

5 Facebook Growth Success Metrics

Recently I answered a question on Quora that I wanted to share as a post as well.

“What is the best way to measure ROI for increasing the number of fans for a Facebook Page?”

Since this question is focused primarily on success metrics tied to acquisition, I will forego discussions around engagement metrics and jump into 5 KPI’s that I reference as part of an acquisition plan. 

1 – % growth over a period of time | As I have mentioned before, on average the top 50 (US) Facebook pages growth rate is 5% per month. Using this as a baseline you can track & project your growth % and track the % increase as a core KPI.

E.g. AllFacebook.com has a good resource to track against the last 30 days of growth.

2 – Like acquisition rate | When executing a promotional program or simply tracking ROI against the % increase, I look at the total cost of the program to acquire the Like. Based on my research over multiple campaigns (including media) a good baseline average Like acquisition rate is ~$5.00 per like. We have experienced below $1 acquisition rate on highly successful campaigns but you should be tracking the Like acquisition rate in order to set realistic expectations with projected Likes vs. budget allocated.

E.g. Brand A recently increased Likes by 125,000 and spent 200K to execute the program/media, etc… the Like acquisition rate for this initiative would have been $1.60 per Like well below average thus a great value for the brand.

3 – Earned Media Value | Vitrue had an interesting study determining the value of a Like at 3.60 using the $3.60 as a potential baseline number it is a quick calculation to determine the current earned media value of a brand page.

E.g. Nerf With 420,093 Facebook fans has an earned media value of $1,512,334.80

4 – Facebook Like = 20 | In a recent discussion with Carolyn Everson of Facebook, she referenced that based on their data a Facebook “like” is equivalent to 20 unique visits to a brands web site.

5 – Facebook Media Reach | One additional KPI to review is media performance in terms of both Impressions & # of Likes generated with & without media support. Using the Facebook self-service platform, or a platform such as Adapt.ly are essential to support your growth initiatives.

There are many other metrics that you can track and platforms such as PageLever & Edgerank Checker to go further than Facebook insights but these are a few that I like to use when tracking success metrics on Facebook growth initiatives.

What are some additional metrics that you deploy to track against ROI for growth strategies?

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Facebook Is Still Priority #1 for Brands

While a lot of buzz and attention has been placed on Google+ over the past few weeks it is too soon for brands to divert attention & dollars away from Facebook. While there is a lot of speculation on how Google+ will enable brands, one thing is still very clear. The #1 option for brands focused on B2C interaction & engagement is still Facebook.

Facebook is the number one seller of display advertising in the US now according to eMarketer and has surpassed both Google & Yahoo. While Google+ has gained momentum quickly, analysis still shows there is a lot of duplication across networks with a majority of new Google+ users maintaining accounts and engaging across both Facebook & Google+.

From a brand perspective no other social platform is as well equipped to support brands both domestically and internationally than Facebook. With the breadth of reach available and the lack of brand support on Google+ (For the time being) it’s important to note that Facebook is where the remainder of your 2011/2012 $$$ should be allocated.

To support this statement look at the recent rollout of Facebook’s sponsored stories and how their usage of social context drives interaction. If you have yet to use this type of ad unit you should consider it as a part of your next Facebook media buy. This ad unit presents interactions with pages into dynamic ads that are shared throughout users newsfeeds and due to the personal & social nature of the unit they grab user’s attention quickly.

The results have been impressive with 1.6x lift in brand recall, 2x lift in message awareness and 4x lift in purchase intent according to Facebook. This is a key differentiator between Facebook & Google+ at the present time. The social context that Facebook provides to brands and support with a variety of programs still makes it the primary choice to execute a Paid, Owned & Earned strategy.

I have found the following graphical representation of Facebook’s Sponsored Story types to be extremely useful.

Time will tell who eventually wins the highly coveted ad dollars. But as it stands today it is still no contest when it comes to where to spend your brands social advertising dollars.

Follow Tom Edwards @BlackFin360

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