Facebook Video is on Fire
By Jeremy Leon (@jeremymleon), Director of Strategy @247LS
This year, Facebook focused on turning the newsfeed into a video paradise to rival the likes of YouTube and TV. We saw the transformation first-hand with videos that we’d produced and distributed through FB. Everything we saw lead to one conclusion: video is the future of Facebook.
First up, the topic on everyone’s mind: organic reach. People are stressing that their content is only reaching less than 1 percent of their community organically. We found that video content consistently reached 2x more people organically than other post types. So if you want an easy reach win, create some cool videos.
But what about engagement? Over the past six months, we’ve been very happy with our average 10 percent engagement rate for non-video posts — and even happier with our average video engagement rate… 18 percent. No, that isn’t a typo. EIGHTEEN. More reach + higher engagement rates = huge engagement. This explains why 80 percent of ALL video engagements take place on Facebook.
We all know that to be truly successful on Facebook you need paid media support, so we pulled some numbers for video ads that show its effectiveness. Facebook cost per views were consistently below $0.09… across all of our accounts.
Not only are cost per views hella cheap, but so are CPMs. Every time we ran a video campaign, the CPM was less than that of non-video campaigns. Sometimes the CPM was less than HALF that of the non-video campaigns.
So if you wanna maximize your engagement on Facebook, you should start making videos. If you wanna maximize your reach on Facebook, you should start making videos. If you wanna be able to do crazy things like retarget video viewers or analyze how good your video is down to the second, you should start making videos. Bottom line: You should start making videos.