Facebook page: advertising platform of the future
BankingWords page on Facebook provides access for the BankingWords.com website to broaden its audience base at minimum cost.
BankingWords.com is a website containing over 20,000 banking, finance, investment, insurance, management, economics, law, Islamic Shari’ah and more, developed by Chaiban Dictionaries and ReaLebanon’s eByblos Language Services. Its Facebook page allows for sharing different posts, including Term of the Day, banking and other specialized crossword puzzles, Quranic Verse of the Day with translations of the Holy Quran into English and French with interpretations.
The Facebook page is also currently used to publicize the availability of BankingWords App for Apple and Android, which was recently launched. A trial small budget advertising exercise was started on Saturday with a boost of a post on Facebook.
Facebook.com/bankingwords was created in 2013 to reserve the name. Actual activity started in 2015. The page currently has 6,034 likes, mostly during the last few months of 2015 and early 2016. The number of likes increases every time a popular post is published.
Popular posts include “BankingWords Term of the Day” and “Crossword Puzzle” posts. The following posts show organic reach, that is reach to page followers without paid advertising. The number of people reached appears at the bottom right corner of each of the following two images.
A trial ad campaign started on Saturday 26th March, with a US $ 20 budget to cover ads for two days to appear in Bahrain only, was still running at the time of writing this article. The post boost targeted audience includes men and women between the ages of 25 and 50 with interests in investment banking, corporate communications, accounting, financial services, translation, commercial banking and insurance. The US $ 20 budget had an estimated people reach ranging between 5,400 and 14,000.
The post, which advertises the BankingWords App for Apple and Android, reached 2,678 people (745 organic reach and 1,933 paid reach) and yielded 187 likes as at the time of writing with US $ 11.81 of the budget remaining.
People using the BankingWords page are 62% men and 38% women, with age groups ranging between 13 and 65+. The highest percentages are for age groups 18–24 (53%) and 25–34 (44%). Percentages scored by other age groups are less than 0.5% each, as depicted by the following graphs.
The above statistics show that the majority of users of BankingWords are between the ages of 18–24. This means that main audience of the page at the present time are most likely university students or fresh graduates just starting their careers.
The days on which the highest numbers of views of the Facebook.com/BankingWords page are recorded are Thursdays and Fridays as shown in the following graph.
The information contained in the above statistics clearly show best times to post on BankingWords and the optimal time to boost posts. For example, with our two-day US $ 20 trial advertising exercise, Saturday and Sunday were obviously the wrong timing. The boost post ad should have run on Thursday to continue on Friday and part of Saturday. This makes sense because the majority of the target market for BankingWords is in the Gulf Cooperation Council countries, who have their weekend on Friday and Saturday.
The selected age group of 25–50 is also wrong, and the optimal age group should have been selected as 18–34. This is the age group which constitutes the bulk of the social capital and connections to be targeted in the next boosts.
