With companies seeking ways to increase their ROI from social media engagement, the social media B2B marketplace is cluttered with many advertising platforms. Brands and advertisers apparently have a problem of plenty when trying to tie up with a platform, but each platform has its unique strengths and weaknesses, and brands need to identify the one that suits their needs best.
Nanigans Ad Engine helps companies who want to maximize their campaign effectiveness on Facebook.
Mediapost: By targeting audiences by action, a Nanigans study found campaigns can increase click-through rates 2.25 times and increase purchase rates by up to 150%. The company says its Ad Engine platform for performance-based advertising on Facebook can track ad spend through to purchases and revenue on or off of the site. It delivers 1 billion impressions a day, leading to 1.5 million ad-related actions.
Normally, a brand advertiser would create and test an ad, bid for ad slots and manage budget – manually. Nanigans automates all these processes to make it faster and more efficient, while incorporating multivariate testing, real time bidding, and auto-optimization.
The Nanigans ad engine applies multivariate testing, or a rapid test of many ad titles, descriptions and image, on the target audience, to identify which ad works best with each category of target audience. The engine also applies behavioral tools to identify the best performing keywords and interests relative to the brand or business.
The Nanigan automated bid and optimization algorithms maximizes conversions. Advertisers may assign the ad value and set the algorithm to optimize what they want. For instance, if the advertiser wants more people to like their Facebook page, the ads would target people likely to “like” the page, if the advertiser wants more referrals, or more purchases, the ad optimization would target audience likewise.
An added plus is Nanigans powerful and detailed reports that by itself provides a roadmap to optimize ad spend. For instance, the report on conversions makes it explicit which specific campaign resulted in maximum conversions, the demographic profile of campaign wise conversions, the time range when conversions took place, and more.
The effectiveness of such interventions depends on scale, which could be a reason why Nanigans require their clients to have a minimum Facebook advertising budget of $30,000+ a month.