Choosing how and when to focus advertising on different parts of the marketing funnel is a decision that all marketers face, but new data suggests a key KPI can be boosted by running ads with different objectives simultaneously on Facebook and Instagram.
Ads with different objectives – brand awareness, consideration, and performance – have a synergistic impact on one another and together can drive more sales more efficiently, according to a new report from Gain Theory, Meta, and Mindshare. Specifically, The Synergistic Impact of Multi-Objective Buying report found that:
- Overall, running ads with brand-based objectives alongside those with consideration-based objectives deliver a 22% increase in effectiveness when compared to a campaign without multiple objectives. Running ads with brand- and performance-based objectives together deliver an 18% increase.
- There are nuances depending on the sectors. For example, performance-based objectives tend to show the strongest synergies with other buying objectives in e-commerce.
- There are also nuances depending on placement type. Static ads were found to be more effective across all objectives in the consumer-packaged goods sector, while video ads tend to be more effective for brand-based objectives in e-commerce and consideration-based objectives in tech.
Download the report and read the results in full.
How we built on previous research into brand v performance
The debate about the best way to achieve long-term brand equity and short-term performance is ongoing, with this recent piece by Mark Ritson arguing that getting a single ad to do both is rare.
Analysis undertaken in 2020 found that ads designed to drive awareness and those aimed at conversion can both drive incremental sales on Facebook and Instagram. Specifically, it found that while ads with performance-based objectives, such as direct response, drove more incremental sales overall, those with brand-based objectives, such as awareness and reach, are comparable after accounting for the cost of media.
But Gain Theory, Meta, and Mindshare wanted to understand if the combined impact of running ads with brand-, consideration-, and performance-based objectives could be greater than the impact of running the same ads individually. To find an answer, The Synergistic Impact of Multi-Objective Buying report used two different MMM methodologies across seven advertisers that spanned six verticals. Campaigns with both static and video assets were examined.
The clear result – that a multi-objective approach delivers greater value – is important at a time when marketers are under pressure to make every ad dollar work as hard as possible.
How can brands grow sales with a synergistic approach? One way is to use a measurement tool that can identify synergies at a granular level. SensorTM, Gain Theory’s multichannel attribution solution, can provide smarter insights, faster results, and better ROI by optimizing tactics at the buying objective level on Meta platforms.
Contact us to discuss how you can develop a synergistic model.
Photo by Sandip Kalal on Unsplash.