To get cheap video views against your target audience, look at these two diagnostic factors.
1) base CPM– how much you’re paying per 1,000 people/impressions. No matter the objective you choose (messages, leads, engagement, conversions, views, etc), Facebook is still calculating how much they are earning per 1,000 impressions.
If you’re above a $10 CPM- you’re getting nailed. The new relevance scores will tell you this, too– selling too hard, not using vertical video, low engagement, high negative feedback, etc…
We’ve seen $30-100 CPMs at times, especially with the cost of traffic going WAY up in 2019, as we predicted. Supply is flat, while demand is increasing.
Notice that I’ve paid $37 to reach 9,184, a $4 CPM. Sometimes, you’ll get $1.50 CPMs against high-quality US audiences.
2) reach to 10-second view conversion rate– the average is 10%. So of the 9,184 people, I’d get 918 of them to stay for 10 seconds if this was an “average” performance.
But, instead, I got 3,521 10-second views, which is 4 times the average. In this case, I got TWICE as many people to as normal stop scrolling for at least 3 seconds (which then counts as a video view). Then I got TWICE as many 3-second viewers to stay for 10 seconds.
By the way, I retarget only on 10-second viewers, not the default 3-second viewers, since these perform way better.
So here’s the DOUBLE-WHAMMY and what it means for you.
A lower cost of traffic and a better video conversion rate yields a 1-cent 10-second video view. Most people are paying 10 cents per person to grow their re-marketing audience.
And they’re paying $2-3 per click to get someone to their website, upon which another 50% don’t even see the page load, since they’re too slow. So call that $4-6 per actual landing page view.
Would you instead get 500 people watching you for 10 seconds, even if you’re not selling directly (educating and entertaining, instead)– or pay $5 to get just one person to the website?
The beautiful thing is that you don’t have to choose. The pros have realized that the key to ROI on Facebook is to get a few light touches at a penny or two each and then re-market that warm audience to your sales material.
You already know how to create sales (direct response) content. But do you know how to drive awareness and engagement before you attempt to convert?
Learn the WHY, HOW, and WHAT formula to drive all 3 stages of your funnel– also known as the 3×3 grid. Google it for many examples.
And then let me know how this works for you– you can thank me later!