Podcast: How crucial are videos in social media? Facebook updates and more.

Dave Granfield: Hey, welcome back guys. This is a little bit different today. I’ve got someone that you have heard before but you’ve never actually met this person. Dean, would you like to introduce yourself?

Dean: I’m trying to remember how the beginning blurb goes. So about two Aussie guys who you drink VBs and ride kangaroos to work.

Dave Granfield: So there you have it. Dean is the actual guy who did the voiceover for our podcast start. It just so happens that Dean is also one of our famous BidPixel ad managers. He’s been with us for quite a while now. And in a previous life you were a radio DJ, right?

Dean: In one of my previous lives, yes. Yes.

Dave Granfield: So Dangerous Dean as he used to be called. And you are still saved in my phone as Dangerous Dean back in your radio days. So Dean obviously being a voice for radio, or a face for radio, did our intro for us a couple of months ago, but I wanted to get him on today and ask him some questions about Facebook ads. And in particular, we’re going to answer a couple of questions that we’ve had coming in from the promotion that we’re currently running on asking your toughest questions. And one of them really is a good question for you Dean. So let’s just jump straight into it. So the Instagram handle my_big_adventure_, that’s a lot of underscores, but if you just search for My Big Adventure, you’ll find who they are. It was one of the two who run that business has come with the question saying, “I’m video shy and I hate the sound of my own voice on camera. How crucial is video really on your socials and Instagram TV?”

Dean: Okay, well there’s two parts to this that I want to talk about anyway. First of all, the videos in social media is really valuable. Just because it’s, I mean we all, I’m sure you talked about this at no end, it’s the most engaging, it’s what makes people stop and take notice. And from our end, we can use video to retarget people of course. We can’t necessarily retarget people who’ve stopped and viewed your ad while scrolling in a newsfeed, but if they’ve stopped and watched some of your videos, we can retarget them. So the video is extremely valuable online because of that.

Dave Granfield: Okay. So for a paid strategy side of things, video’s really important because we can build audiences based on people who are engaging with your content quite easily. And so what you’re saying is we can’t do that for a still image post.

Dean: No, no. Video is where it’s at. You want video, you want lots of video.

Dave Granfield: And I guess the next part would be Facebook’s traditionally giving cheaper engagement for video. So the cost, the cost per view and everything is a lot cheaper. Some of our ad accounts go videos is cheapest, like 0.002 cents which-

Dean: 001 thank you.

Dave Granfield: 001 cents, mate.

Dean: Yeah.

Dave Granfield: Well done.

Dean: Big & Little Dogs.

Dave Granfield: Big & Little Dogs, little bit of a shout out there. Hey girls, by the way Big & Little Dogs, we don’t have anything on our shelves from you.

Dean: Yeah. I’ve got enough of the harnesses at home. I’ll just bring mine.

Dave Granfield: Ladies, you need to help us out. I’m sure you will watch this at a certain time. I’m sure Dean will send it to you, but Big & Little Dogs, the girls that run that, you need to send us something to put up on our shelf. So 0.001 cent for a video view. So if you’ve got a small ad budget or if you to want to reach as many people in the top of funnel as you can with a video, that sounds like a pretty fantastic way of doing it. What’s another important thing about using video, whether it be organic or paid?

Dean: Ooh.

Dave Granfield: Do you want me to give you a hint? Because you’re looking at me like a deer in the headlights.

Dean: Because I’ve got in my mind the other thing I wanted to talk about about the camera shy part of it. But but.

Dave Granfield: Okay. Well the other thing that you’re talking to me before we started recording was just bringing the personality into your content, right?

Dean: Oh of course, yeah.

Dave Granfield: And the reference would be a Meagan from Fawn and Finch who does a warts and all, how she brings her family into it, which is maybe more than some people would want to do. But coming out of the gym hot and sweaty, you can create a genuine story with video.

Dean: Mm-hmm (affirmative). Like people don’t jump on, this is what we’re talking about, people don’t jump onto Facebook to see ads. It’s a social platform, people jump on to see slices of their friends lives.

Dave Granfield: Yeah.

Dean: So if they jump on and see an ad, that’s not what they’re there for. If they jump on and see a slice of life of someone who they think is interesting, they’re more likely to stop on that content. Even though it may be an ad or it maybe … ultimately it’s an ad I guess, even though it may not be. Even though it may just be a slice of your life, it’s still much more likely to stop them in their tracks.

Dave Granfield: Socially engaging. So you wanted to talk about the shy and hate the sound of my own voice.

Dean: Yeah yeah.

Dave Granfield: How does that come into it?

Dean: That’s doesn’t have so much to do with digital marketing. It’s more of a bit of a life philosophy of my own. I didn’t say that word, David.

Dave Granfield: What word?

Dean: I can’t say it.

Dave Granfield: Okay, well I don’t know what you’re talking about, but carry on.

Dean: Yes you do. Life philosophy of my own. About being camera shy, remember this: everyone … no. No-one judges you as harshly as you judge yourself. You may hate the sound of your own voice, but own it. You got a horrible voice, speak it confidently. The only reason people would mock you is if they can see that you’re ashamed of your own voice, and you’re kind of craning down and not real confident because you think people are going to hate you. If you own that.

Dean: If you have a voice like this and you’re out there and going, “Oh, yeah,” people are going to … Sorry to your recording equipment there, people are going to look on you much more favorably than if they can see that you’re not really proud of who you are.

Dave Granfield: My lovely wife Casey watches some influencer about fashion called [Trini 00:06:05] Ladies. I don’t know if you know who Trini is, but she has the most polarizing, annoying voice ever. But she owns her what she’s talking about and my wife is obsessed with her, right? Like I believe we’re probably going to move to the UK soon just so we can be closer to this Trini because she’s captivating in what she does. But she’s got an annoying voice, right? And I’m sure she’s not concerned with it.

Dave Granfield: But I’m shy and I hate the sound of my voice, but like I’m somewhat shy-ish. I have somewhat of a dad bod these days and I get embarrassed about my dad bod. And you know, I don’t have the time to exercise or do as much as I used to. If you haven’t noticed, I’ve got a scar on my face. I’ve got a massive scar under my eye, and I always am some conscious of that because I’ve got a camera here like on my face. And I watch back these videos and see my scar, but no one else sees that scar, right. So it’s all about, I guess Dean, what you were saying is, people aren’t going to judge you as hard as you judge yourself.

Dean: Absolutely.

Dave Granfield: And as long as you’re providing value in what you’re producing, people are not even going to think twice about it, right?

Dean: Yeah.

Dave Granfield: Cool. So that was the first question. First of our tough questions for the day. That was from My Big Adventure. The next question is from Ruffets and Co. So R-U-F-F-E-T-S A-N-D C-O. Ruffets and Co, I believe they do washable diapers, diaper covers, kids’ clothing and products. So their question is: how can I find the extra funds, so that’s the first part, to set aside to enable me to advertise at a level that gives me a great return?

Dave Granfield: So the first answer, how can I find the extra funds to set aside to enable me to advertise? Go and watch one of our recent episodes about finding capital and raising capital, and that’s a really good prelude into this. But then what’s the definition of a level of advertising that gets a great return? Can you speak into that at all mate?

Dean: Whoa.

Dave Granfield: Do you want me to take that one?

Dean: It’s a how long is a piece of string, David?

Dave Granfield: Well, let’s break that down. This piece of string is twice the length from the middle to one end, right?

Dean: Yeah.

Dave Granfield: So then how can we enable the advertising at a level that gives me a great return? I guess you need to go back and work out what you’re prepared to pay to win a customer. That is going to revolve around how much profit margin you have on a product, how much of that profit margin you’re prepared to give up to make a sale on that product, and how many products do you want to sell in a week. And that really comes down to simple mathematics then. As you get more and more engagement through your advertising, you’ll get better and better results or more profitability on your ads. And one of the metrics that you’ll hear Jane and I talk about a lot is a return on ad spend.

Dave Granfield: I mean everyone talks about a return on ad spend. So for every $1 you spend in an eCommerce sense with online ads, how many dollars do you get in return? And fairly [inaudible 00:09:07] industry standard is to spend a dollar and make $2.50 back most people are happy. Spend a dollar and make $9 back at scale is amazing. Like spend a thousand and make 9,000, that’s pretty profitable.

Dave Granfield: So a Ruffets and Co asks: what’s going to enable them to advertise at a level that gives them a great return? I guess you need to work out what your break even return on ad spend is. So after you factor in your profit margins, your average order value, your lifetime customer value, when they’re coming back to purchase again, how many people are visiting your storage month, and how much are you prepared to spend to acquire a customer, you can start doing some maths about what you are actually able to spend.

Dave Granfield: And there’s a bit of an economy in scale, as once you get further and further, Facebook’s got a learning phase algorithm where Facebook publicly says you need to get 50 conversions per ad set per week before it’s truly optimized and giving you the best price per acquisition. A lot of people can’t afford to spend, like get 50 conversions, and a conversion being an add to cart, a purchase, whatever you’re aiming for. They can’t afford to get 50 conversions per ad set per week, so you need to take longer to go through that learning phase. Or you need to be really crafty and make sure you’ve got the best copywriting and the best image and the best call to action, and then the best product page or value or offer. And you’re targeting the right audience to get the best dollar that you can.

Dave Granfield: So sorry, I-

Dean: That was all very long and intimidating David.

Dave Granfield: What’s the … What’s the layman’s terms for that mate?

Dean: To sum it up, speak to someone who can help you. Like I know when we onboard clients, I’m not personally involved in the onboarding process, but I know they get run through a [inaudible 00:10:51] calculator. They get asked all the questions, and then they work out together with Jay or Chris, whoever’s doing it, how much they’re going to need to spend to get results.

Dave Granfield: Yep.

Dean: So I guess the answer to that question would be, well probably it’s a bit tough to kind of work out by yourself, but if you speak to an agency that you trust, they should be able to run you through that and give you a solid answer. And then you’ll know how much money you have to actually go and-

Dave Granfield: Find.

Dean: Yeah, for the first part of the question.

Dave Granfield: But really it is an algorithm, and as scary as Facebook or Instagram advertising is, when you get that algorithm right, it’s a license to print money. And once you know what your acquisition costs are, you can easily scale an ad account from spending 2000 a month to 30,000 a month, which you do successfully all the time, right? So I guess Ruffets and Co, how can I find the extra funds? Be creative. We did an episode last week about that. To then enable you to advertise at a level that gives you a great return, you’ve got to spend it to make it. And I think the thing that we talked about Dean, was that when you’re trying to run your own ads, you’re really … we find time and time again, people get scared when they’re running their own ads. They’re not prepared to put in the level of money that they need to get a return, and they’re too reactive on the results.

Dave Granfield: So time and time again, people we see, they’ll run something for 24 hours and get scared and turn it off. Whereas we wait for a minimum of three days, but we prefer to wait for like a seven day period to actually judge if there’s any results that’s going to be attributed to that campaign.

Dean: Yeah, I think probably the confidence of knowing that people who do this day in day out are taking care of your ad spend. I mean that would give you confidence that you wouldn’t have doing it yourself. You’re kind of stabbing in the dark, and there’s your money ticking away down the drain at the same time. I can see why people get nervous. I’ve done that myself back when I was a business owner before I knew this whole game.

Dave Granfield: That’s it. I remember talking to you about this years ago. We sat down at the pub at Hope Island and we talked about this years ago, right?

Dean: Those were the days.

Dave Granfield: Hey? Way back. So there you go. A question from My Big Adventure and a question from Ruffets and Co. They just so happen to now be in the running to win $50,000 cash. And Dean, we’re just going to take a quick break and I’ll want to explain why that is.

Dave Granfield: Hey guys, I just wanted to take a moment out of the content that you’ve been consuming right now and just discuss this promotion that BidPixel is doing currently. So for Q1 of 2020, so January through to the end of March, we’re actually incentivizing you, and we want to know what your toughest marketing or advertising question is. Now we want to hear those questions on our Instagram account, so commenting on any of our posts. Or our YouTube channel, commenting on any of our current videos, or in fact any of the videos on our channel at all. And we will go through and read those questions and use them as a basis of our content for future videos and pieces of content that we’re making.

Dave Granfield: Now marketing is a transaction, right? You need to give and take to get someone’s attention. And while we’re asking you for these tough questions, we know that we need to give you something in return. So what we’ve devised is an outlandish prize of $50,000 cash to go towards your next marketing or advertising campaign. Now we’ve had some feedback from this already and some people think it’s a little bit too good to be true. But I just want to take this moment out of the content that you’ve been listening to, to give you some assurance and give you a bit of an understanding of where that $50,000 cash is coming from, and let you know that it’s completely above board and legitimate.

Dave Granfield: So within Australia you’ve got the ability to do an insured prize sum. Now, while we don’t have the $50,000 to give away, we use an insurance company that say that there is a game of chance involved, and the winner will get the chance to spin a wheel and if they spin the lucky number, like if you’re old enough and you remember, “Hey, hey, it’s Saturday. And pluck a duck in the big chocolate wheel.” If you spin the number and win, you get a genuine $50,000 cash to do with it as you choose, or to spend it on advertising.

Dave Granfield: Now because it’s a game of chance some people not want to take part in that, so what we’ve done is offered up two other prizes in the prize pool. And the first person who asks the toughest question or the person that we deem wins this promotion at the end of March, will get the chance of which prize they’d like to choose. Yeah, they might like to spin to win and go for their chance for $50,000 cash, or they might choose one of our supplementary prizes which are, the first supplementary prize is three months worth of strategy with our team. So you get three months of strategy with our Google Ads experts, three months of strategy with our Facebook ad experts, and three months of strategy with our conversion rate optimization and website development team.

Dave Granfield: Now that’s a pretty powerful prize in its own. And imagine what you could do after three months to generate revenue through your advertising and marketing. Now if that doesn’t float your boat, we’ve also got a locked safe. Now you can barely see it up on the screen here, but up on my shelving that you’ll see in a lot of our videos is a safe that says, “Win me,” and it’s actually been locked for quite some time now. The contents of that safe in November and December alone earned two of our customers over half a million dollars worth of sales online.

Dave Granfield: So like I said, marketing is a give and take mentality, right? We want to take your tough questions and we want to answer them. And that’s a selfish motive from us because we want to use those questions that you ask to then generate more valuable content for other people to consume. But we know that we need to give you something in return. And the reason why we’re going outlandish with the $50,000 cash is we want to make it worth your while to take time out of your day to ask us a question. So that’s it. That’s our little internal ad as part of the content that we’ve just pushed out. I just want you to know that yes, it’s a legitimate $50,000. We want you to have the chance to win that, or one of the other prizes that we’re offering. And all we need in return is for you to ask us a marketing or advertising question that you genuinely want to find out an answer for.

Dave Granfield: Thanks heaps. Let’s get back to the content that we’re talking about at the moment. And if you did want to take part in this promotion, just go to bidpixel.com/questions and there’s all the information you need there. Cheers guys.

Dave Granfield: All right, so we just learnt how My Big Adventure and Ruffets and Co went in the draw to win $50,000 cash just by asking those two questions. You can follow the links below. You can do all that. All you have to do is, well I just played the ad, I don’t need to say it again, right? All right.

Dave Granfield: So let’s talk about some Facebook and Instagram updates in business manager. So the first one I’ll talk about, which would be multi country feeds for a product feed out of like Shopify or WooCommerce. So there is now the ability if you dig deeper to do multiple country in a feed with localized information. So different prices, different products available in different regions. So if you’ve got two fulfillment centers, one in Australia or one in the US. Or if you’re shipping from Australia to the US and you want different pricing, there is the ability now to use localized information in your XML feed or your CSV feed so that product information is correct based on the region or the geographical region that people are looking at. So-

Dean: You show the products in the user’s currency.

Dave Granfield: You can show the products in the user’s currency on the Facebook ads.

Dean: So good.

Dave Granfield: Right. So a good use case for that would be Courses for Success who is one of our customers. Sell online courses for professional development and personal development. Australian company sells into multiple different countries, and we can then tier or we can tailor the feed or the Facebook feed. So when they’re looking at the retargeting will I guess be suited to the country that they’re in. So that was number one, multi-country feeds.

Dave Granfield: The second one would be performance alerts. So have you been watching these as they come in? Do you know what I’m talking about with performance alerts?

Dean: Not the alerts, no I do not.

Dave Granfield: Okay. So there’s a little bit more transparency in ads manager now. So you can see performance alerts based on, say, we were just talking before about Ruffets and Co’s question, performance alerts based on maybe if you’re not getting the conversions or if you’re still stuck in learning phase on an ad. And it’s giving you a little bit more transparency and helping you understand a little bit more the journey that your ad campaigns or ad sets are on. So I guess that’s Facebook’s way of consumerizing ads manager a little bit more and making it easier for the mum and dad businesses to understand what’s going on.

Dave Granfield: The third thing that’s happening is copy pasting of ad sets and ads. Now this is going to be a big thing that saves people time, so you can always duplicate and duplicate into different ad sets, but within business manager at an ad level and at an ad set level, you can now literally control C and control V and copy and paste an ad set or an ad pretty quickly.

Dean: Look out my campaigns.

Dave Granfield: Your campaigns are-

Dean: Breeding like rabbits.

Dave Granfield: Breeding like rabbits. So copy paste. So you could go into one ad and control C it, and then go into a different ad set and control V it. And put the same ad or same creative into a different ad set with a different audience or budget or whatever objective. So control C control V at an ad level or an ad set level is a new thing that’s just happened.

Dave Granfield: Next one would be video views in messenger stories and the ability to create audiences from Instagram TV. So do you want to speak into that one a little bit?

Dean: It relates a bit back to what we’re talking about before hey, about how valuable video is not only for engagement but being able to retarget people who’ve seen sections of the video. And it was always a bit of a sore point with me and probably with a lot of other people that you couldn’t retarget people who’ve seen your stories and stuff on the Instagrams.

Dave Granfield: On the Instagrams. So the big thing there is it comes back to that first question like you said, video is king and the fact that now we’ve got more ability to retarget people who are engaging in your content. So they can watch a video in your stories, they can watch a video in your Instagram TV, and then because they’ve shown a level of interest, we can make sure that they are continuing on through the journey of your brand, whether you’re giving them more brand awareness, trying to educate them, or motivating them to actually purchase or sign up for something. So use your audiences to your best ability and video is coming up king on that one. Mate, that’s it. That was like, we’re 20 minutes in already. That went really quick.

Dean: Awesome.

Dave Granfield: Dean, thank you very much for joining me today.

Dean: It’s been my pleasure.

Dave Granfield: You don’t have to get up and run straight away. Thanks for joining me today, it’s a pleasure to have you even though you literally sit on the other side of this wall. I’ve never actually had you sitting here, so thanks mate. We’ll get you in again shortly to answer some more questions with you because you are so convenient being just there. Awesome mate. Thanks heaps.

Dean: Cheers.

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