Facebook recently launched an updated version of their Flyers product called Flyers Pro. The main difference between this and the now Flyers Basic product is that advertisers can now pay per click instead of paying per impression.
In theory, advertising on Facebook has immense appeal. Given its incredible user base (now over 30 million active users) and extremely high visitor-return frequency (ranking second in visits/visitor) it is an advertiser’s haven. With Facebook’s improved targeting options – you can now filter on keywords (“Beatles”, “Lord of the Rings”, “iPhone”), countries, cities, age, workplace (“Google”, “Goldman Sachs”) and colleges – advertisers can now (theoretically) target their ads much better and reach the exact demographics they are looking for. Social networking sites, however, are infamous for their abysmal click-through rates (ranging from 0.01% to less than 1%). Unheeding these statistics, however, we decided to try out this new platform.
To test out the new Flyers platform, we created several campaigns to see:
- what demographics get us the most impressions for a given cost per click (CPC), and
- what demographics have the highest click through rates (CTRs).
The first question is to gauge the current demand of advertising to certain demographics on Facebook (independent of product and creative) and the second question is for us to see which Facebook demographics Youlicit appeals to the most (highly dependent on the ad, the placement of the ad, the product being advertised and the audience). The different demographics we targeted were as follows:
- All high school students (ages 13-19)
- All college students majoring in Engineering and otherwise technical majors (engineering disciplines, computer science, web design, etc)
- All college students attending some of the top technical schools (MIT, Stanford, Harvard, Princeton, UPenn, Columbia, Cornell, Carnegie Mellon, Illinois, U. Texas, U. Maryland, Georgia Tech, Cal Tech, Berkeley, UCLA & Penn State). Nothing personal if your school isn’t listed, this was just a random sampling.
- All people between the ages of 17-40 who live in the top technology cities as identified by Wired and some others (Seattle, San Francisco, LA, Austin, Orlando, New York, Boston, Philadelphia, Washington DC, Pittsburgh & Chicago)
We created this flyer to be used on all the campaigns:
Given our current download rates per visit on Youlicit, we set our maximum costs per click to $0.03 in order to keep our user acquisition costs to under $1/user (however we did set 2 campaigns for the high school demographics to compare number of impressions for CPC’s of $0.05 and $0.03). We launched these campaigns this week for a period of 7 days and will see how each one fares after that. Stay tuned for the results…