DJ Sutton, Director of Media Services
Brie Slavens, Manager of Media Services
November 6th, 2023
We’re just 3 weeks away from Black Friday and Cyber Monday (BFCM), which means it’s officially go-time for digital marketers. If you’re on point for your brand’s strategy on Meta this holiday season, we’ve got you covered. New Engen experts identified best practices and key tactics to implement for a successful Black Friday and Cyber Monday in 2023.
Get the most out of your Meta Advantage+ Shopping (ASC+) campaigns by supplementing existing, business-as-usual (BAU) campaigns with ones that are promotion-specific. Your Promo ASC+ should include a minimum of 15 sale-related assets.
Keep your BAU campaign live while the Promo ASC+ ramps up to help maintain performance throughout the sale period (and into the hangover period).
Here are best practices for capitalizing on your audiences this holiday season:
Set your ad sets up for success by allocating enough budget to ensure they exit the learning phase. A good rule of thumb is to place ad set budgets at 5x your average CPA.
Leverage lowest cost auto-bidding (AKA, no bid caps) to get the highest results from your budget and ensure that you can win in auctions (without bid caps and goals inhibiting scale).
Finally, don’t run more than 10 prospecting audiences at a time - this includes ASC+ and DABA.
In 2022, we measured +30% in CPMs and +50% in CVR across the New Engen client portfolio from October to November. Below, we explore the key dates to look out for this month and how to make adjustments (or stay put) during peak periods.
DJ Sutton, Director of Media Services at New Engen, stresses that the most important thing to remember throughout the holiday season is to not over-manage your campaigns. It’s easy to spring into firefighting mode when things don’t go to plan, but updating your campaigns mid-flight will push them back into the learning phase and end up working against you in the long run (as the old saying goes: two steps forward, one step back).
We know that Q4 is a grind for digital marketers, and that it can be difficult to know where the line between necessary management and excessive management is drawn. New Engen experts live by these four golden rules to stay ahead of the curve (and above water).
When it comes to preparing your BFCM ad creative, New Engen leaders have a piece of advice - work smarter, not harder. For example, instead of producing differentiated ad creative for each day, brands should focus on generic BFCM messaging that can run throughout the spending period. This ensures that new ads aren’t being launched on peak days and provides insulation against CPM spikes.
Leverage your ad creative within Dynamic Ad (DPA) campaigns (seriously, this one is non-negotiable). Testing conducted by Meta has shown that DPAs with creative elements drive stronger CTR and CVR than those without. Additionally, incorporate Buy Now, Pay Later messaging into both text and visual assets if applicable to your brand.
Finally, get the most life out of your BFCM strategy by promoting gift cards after the shipping cutoff date has passed.
Finally, make sure you’re taking advantage of Reels this holiday season. Because of their massive reach and unparalleled engagement, Reels are the most valuable ad format available to advertisers right now. Across the New Engen portfolio, Reels are driving a +40% Watch-Through Rate compared to Feed and Story Video Ads, and they’re doing it at a -75% Cost per Reach. Simply put, consumers are engaging with Reels more than any other ad placement, and there is a surplus of ad inventory available to advertisers if they choose to use it.
For more Reels insights, watch the replay of our October webinar and read the debrief, #ReelTalk: If You’re Not Investing in Reels, You’re Missing Out.