Member Article

Socialbakers Launches Advertising Performance Benchmark for Social Networks

Socialbakers announced the world’s first near real-time advertising performance benchmark for social networks. The benchmark, powered by data from billions of dollars in ad spend, provides marketers with a continuous view into how their ad spend performs against their industry, country or region. This benchmark is essential for every marketer who owns an ad budget and needs to constantly review and optimize their results to maximize performance.

Today, more than 5 million businesses actively advertise on Facebook, but until today, marketers were missing access to benchmark data on which to base their ad strategy. Benchmarking is a key practice in helping marketers understand their performance against industry trends and standards. In social media, it is crucial to understand a brand’s current performance and provide the necessary steps to uncover weaknesses and strengths in ad strategy.

“This new addition to our platform makes it easier than ever for our customers to track and compare their ad spend and performance in a competitive context”, said Yuval Ben-Itzhak, CEO, Socialbakers. “Customers have told us that up-to-date ads benchmarking would give them the ability to monitor and adapt their ad spend to maximize performance. Now marketers have access to more than 3 billion dollars in ad spend, giving them the ability to measure, manage and optimize the business impact of their social media in one place”.

Socialbakers customers can use insights from ad benchmarks to learn whether they need to improve their content, modify their ad targeting or post their content at better times to maximize engagement.

“Having access to ad spend benchmarks directly within the Socialbakers Suite is a major game changer for marketers”, said Jana Barbati Chadova, Head of Global Marketing at Bata, a global fashion brand. “Being able to see how we as a brand compare to our competitors on reach and CPC will give us powerful insights for discussions around budgets and help us make real time changes to optimize our ad spend”.

This was posted in Bdaily's Members' News section by Socialbakers .