These findings were the result of a pilot programme by Visual IQ on behalf of O2 and its agency partner Havas which measured previously untracked Facebook advertising impressions.
The project allowed O2 to measure the value of its Facebook investments relative to other digital channels, publishers and placements for the first time.
The pilot also proved the efficiency gains driven by Facebook. When Custom Audience impressions were included in the broader tactical mix, O2 saw a 52% improvement in cost efficiency for new customer acquisitions and a 38% improvement for existing customers.
"As a business, we understand the reach, targeting and engagement value of Facebook, but were previously unable to track and measure its effectiveness to the same degree as our other digital efforts," Nick Adams, head of digital excellence, marketing communications, O2, said.
Havas has worked with Visual IQ to measure the impact of O2’s digital marketing efforts on sales and other desired business outcomes as far back as 2015. Through the pilot, the agency was able to prove that investments in Facebook alongside other digital channels and tactics contributed to O2’s sales goals.
The pilot programme was made possible by a partnership with Facebook that Visual IQ signed last September.
"The inability to track our full media investments on Facebook made it difficult to demonstrate the actual value of the channel," James Olney, senior business analyst, Havas Media Group, said. "Visual IQ’s partnership with Facebook was key to proving the platform’s true value."
"Previous limitations in measuring Facebook media has been a barrier to understanding the true impact of this channel," Manu Mathew, chief executive and co-founder, Visual IQ, commented. This new integration should have an impact on brands and agencies who, until now, have been investing funds in the channel with no clear way of proving its true value, he added.