The latest data on Facebook ad performance from Kenshoo clients during the beginning of the shopping season is in, and Kenshoo found that retailers and shoppers didn’didn’t let the compressed timeline get in the way of taking advantage of keys dates such as Black Friday and Cyber Monday.
With the US Thanksgiving holiday falling one week later this year, consumers converted steadily throughout the month of November, but came out in full force to take advantage of the deals between the U.S. Thanksgiving holiday and Cyber Monday. When compared to the dates leading up to Thanksgiving (November 1-27), Black Friday and Cyber Monday experienced triple the number of conversions and also noted the highest conversion rates.
By focusing on tailored messaging and pinpointed targeting, advertisers were able to achieve significant upticks in conversion rates on both Black Friday and Cyber Monday. Given the spike in conversions on these days, marketers also benefited from increased revenue. Kenshoo Social clients saw as much as 15x more revenue during the 5-day seasonal shopping period than they did on November 1st, with the highest peak occurring on Cyber Monday.
In addition to revenue growth from Thanksgiving to Cyber Monday, return on ad spend (ROAS) rose as well. ROAS on Black Friday was 93% higher than the average seen between November 1 -27.
While paid search trends are indicating the growing importance of Thanksgiving in the seasonal shopping period, it’s Black Friday and Cyber Monday that are leading the way for social. Advertisers’ prioritized spend to focus on Cyber Monday with the Thanksgiving Weekend and Black Friday trailing shortly behind.
Overall, social marketers were steady with their budgets given the shortened shopping season, allotting over 75% of the total ad spend from November 1 through December 2 to the period leading up to Thanksgiving (November 1-27). The increased spend retailers applied on the key dates paid off in the end as Facebook ads experienced a significant boost in performance from Thanksgiving to Cyber Monday.
To learn more about these key findings, view Kenshoo Social’s latest infographic, Facebook Ad Performance Spikes for Retailers Powered by Kenshoo Social on Key Dates of Shopping Season.
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