The Advanced Guide to Facebook Watch

In 2017, Facebook launched its answer to the burgeoning streaming video market: Facebook Watch. Through Watch, users could view both scripted and live video from professional networks, brands, influencers, and everyday people.

Facebook released Watch to a limited group of users, and for that first year, it flew pretty much under the radar. In 2018, they launched it globally, and the service took off like a rocket.

By 2019, Watch had 270 million monthly users, and by 2020, that number had shot up to over 1.25 billion, according to Facebook.

I covered Facebook Watch in a previous post when it initially launched. Since then, they have expanded their content offerings (even getting into the music space!) and added a ton of features for brands and marketers.

In this post, I’ll dive deep into how to use Facebook Watch for marketing, now that the platform has matured.

Content on Facebook Watch

Facebook is still experimenting with different content types by adding, subtracting, and tweaking to find the right balance for their platform. In 2019, Facebook’s head of global creative strategy Rick Van Veen told Variety,

We’re still figuring it out and learning. When you start a new platform, you’re going to have to throw a bunch of stuff at the wall and see what works and what doesn’t.

Scripted Content

Facebook Watch Original Series

Facebook’s scripted content can be found under the Show tab. This section is where they’ve entered the ring with the likes of Netflix, Apple+, and Hulu. Here, users can find everything from comedies to critically acclaimed dramas to reality and talk shows.

“Red Table Talk,” for example, is a popular show starring Jada Pinkett Smith, where she brings on guests to discuss sensitive topics such as divorce and gender identity. Meanwhile, Mike Rowe of “Dirty Jobs” fame stars in “Return the Favor,” which won a Daytime Emmy.

Facebook Watch Red Table Talks

However, they’ve recently scaled back on their scripted content, canceling some of their popular shows in favor of live and sourced content from brands and users.

Live Content

Facebook Watch Live Video Content

Facebook Live predates Watch by a year. When Watch launched, however, Live was bundled in with the rest of the video content.

Types of videos on Live range from U.S. Senate committee hearings to live author readings and skiers showing off their tricks.

Small businesses have also rushed to Live, creating events and classes to increase revenue.

Music Videos

Facebook Watch Music videos

In August 2020, Facebook launched its new music discovery platform, Facebook Music. Here, users can explore videos by genre, trending topics, artist, and even mood. Currently, the app is only available in the U.S., India, and Thailand, but it’s already garnered a lot of attention.

For instance, Katy Perry debuted her music video “Smile,” the title track of her fifth album, on Facebook Watch.

How Facebook Watch Works

When you create a video on Facebook Watch, whether it’s a live event or a scripted show, you upload it to Facebook using their Creator Studio.

The Creator Studio is the hub for all of your business content for Facebook. From here, you can bulk upload videos, crosspost to different pages, schedule posts, consolidate engagement, and monetize. You can also use their in-depth analytics tools to monitor your content.

Facebook Watch Creator Studio Dashboard

On the videos you upload, Facebook places mid-roll ads. Forty-five percent of the revenue from those ads goes to Facebook, while the remaining 55 percent goes to you.

Helpful Hint: Facebook prioritizes longer videos (3+ minutes) and content that engages the audience and sparks conversation. They’re looking for content creators who respond to user comments and pin the best comments to the top of the feed.

How Your Business Can Benefit from Using Advanced Facebook Watch Features

In France, according to Facebook, national broadcaster M6 began creating videos for Watch. Their one-minute video views more than doubled in nine months and they acquired 6 million new follows organically.

Here in the U.S., says Facebook, Buzzfeed has increased their revenue by creating videos over three minutes across their Tasty, Goodful, Nifty, BringMe, Cocoa Butter, and Pero Like pages.

“We moved quickly and increased our payout from total in-stream ads by 20% compared to the previous half,” Maycie Timpone, Executive Director, Video & Publishing at BuzzFeed, told Facebook.

Facebook Watch has become a powerful tool in marketers’ pockets. Let’s take a look at a few ways Watch helps you increase revenue and attract new followers.

Hyper-Personalized Content

Facebook is all about personalized content, and Facebook Watch lets you upload videos right to your target audience. Your videos will also appear in specific categories, such as “Shows Friends Are Following.”

Facebook will also categorize your videos by genre, topic, and even mood.

Recently, Facebook introduced Topics to mobile users. Topics allows users to further customize their video feed by choosing categories that interest them.

Facebook Watch Topics

Show Pages

Proper Tasty on Facebook Watch

Show pages allow users to interact with show creators and fans. They can leave comments, ask questions, or even engage in interactive video content. Just like any other Facebook page, they can like, follow, and share pages with friends.

Real-Time Engagement

This feature is particularly helpful with live video. Viewers can react to, share, and comment on a video in real-time.

Real-time engagement is a great opportunity to get initial feedback on your video and engage with your audience by asking and answering questions and becoming part of the conversation.

Facebook Watch Parties

Facebook’s number one goal is to bring people together. It’s why they added groups a few years back, to allow people with similar interests to find each other.

With Facebook Watch Parties, viewers can bring a group of friends together to watch videos and chat about them in real-time.

Video creators can make content tailored to watch parties to boost engagement.

Playlists

Playlists allow video creators to group videos and post them to their pages. Videos play consecutively to boost views.

Marketers can use playlists for video series or to group videos by topic.

Optimizing Your Facebook Watch Videos

You may be creating killer content for YouTube already, but optimizing Facebook Watch videos is a little different. Here are some tips for getting the most out of your Facebook video content:

First, Make Sure It’s Original

Pulling content over from YouTube or even your website won’t work for many reasons. First, the aspect ratio may be wrong (more on that next). Second, original content exclusive to Facebook will keep people coming back, allowing you to take advantage of Facebook’s monetization tools.

Pay Attention to Aspect Ratio

Facebook gives video creators specific aspect ratios for all pages on both Facebook and Instagram.

You’ll want to follow those guidelines, but in general, make sure your video is shot for mobile. The vast majority of Facebook users access it via mobile, and more than half of ad revenue comes from mobile-first video ads.

Add Captions

Eighty-five percent of videos on Facebook are watched without sound. So, adding captions to all of your video content will naturally boost engagement.

Include a CTA

When you upload a video, Facebook allows you to add a CTA at the end. Whether it’s an invitation to watch more videos, check out a product, or simply like your page, adding a CTA can increase engagement and even boost conversions.

Beyond the Basics: Advanced Uses and Features of Facebook Watch

Recently, Facebook has added a bunch of cool new features that marketers can take advantage of. Let’s take a look at them.

ThruPlay

ThruPlay is a default setting and one you should keep on. With ThruPlay, if your video is shorter than 15 seconds, it will post it to users who are more likely to watch the whole thing. If it’s longer than that, it will deliver it to users who generally watch videos longer than 15 seconds all the way through.

Paid Online Events

Paid online events are a function of live video and have become an essential tool for businesses. Brands can create, host, and promote an event all in one place. They can also set a price and collect payment easily.

Helpful Hint: Facebook normally collects a fee for a paid online event. At least until August 2021, however, they have waived their fees.

Fan Subscriptions

Creating the ability for fans to subscribe to your video page boosts engagement. It also allows you to foster customer loyalty through exclusive offers and content for subscribers.

According to Facebook, it also allows you to predict revenue monthly.

Stars

Another feature is Stars, a tool that allows fans to support your work. Users can purchase stars to send to you. For every star a fan sends to you, Facebook gives you 1 cent.

(Think “Ralph Breaks the Internet” and the hearts he had to earn on his videos.)

The more you engage with users, the more likely they are to send you stars.

Facebook is still rolling out this program to a limited number of users, but you can sign up to show your interest.

A/B Testing Tools

On the back end, Organic Video Post Testing allows video creators to test between two and four variations of a video at a time. Videos are distributed to your target audience, but they’re not posted to your page. The video with the most engagement after a period of time is then posted to your page automatically.

In-Stream Ads

According to Variety, Facebook takes in 22 percent of U.S. digital ad spend. Before Watch, ads that appeared in newsfeeds and the right rail kind of got lost in the mix, right?

However, as pointed out previously, ads that would usually get lost in Facebook feeds get a lot more attention when they appear in the middle of a video.

Mining Audience Data from Your Facebook Watch Viewers

When it comes to analytics, Facebook Creator Studio is a veritable treasure trove. Here are some of the cooler stats you can mine from your dashboard:

Views

There are so many different ways you can parse these metrics. For example, if you want to see the number of minutes viewed, you don’t have to settle for a lump sum. You can break it down by minutes viewed on your page, in shared posts, and crossposts.

You can also see how many views were over three seconds long or how many people viewed the whole video, depending on what comes first.

You can also filter by auto-played vs. click-played and paid vs. organic.

All of the views are measured over a 28-day period.

Audience Engagement and Retention

To get a quick overview of your posts, you can look at the number of reactions, comments, and shares for videos with at least 100 views.

Facebook Watch Post Engagement

You can also go way beyond that. You can see audience demographics, and you can filter by fans and non-fans to know who you’re truly reaching.

If a video is performing well, you can choose to boost it right from your dashboard.

To dig even deeper into each video, Facebook shows your viewer retention through the entire length of the video. Line graphs like this one show you exactly where viewers dropped off in your video so you can make adjustments.

Facebook Watch Video Retention

What’s really neat: when you hover over the line graph, each point of the line displays your video’s corresponding frame.

Finally, you can measure each post against other posts to assess which types of videos and content are working well (or not) for you.

Negative Feedback

Just as important as the positive metrics are the negative ones. Facebook can show you negative comments, as well as how many times people hid your video from their feed or reported it as inappropriate.

Click-Throughs

Finally, Facebook can differentiate between clicks to play your video, clicks on links embedded in your video description, and clicks on your CTA.

Increasing User Engagement Via Facebook Watch (and Why This Matters!)

We’ve talked about all the levers you can pull with Facebook Watch, but how do you use them to increase user engagement? Here’s how to use all their cool features to do just that:

Take Advantage of Real-Time Commenting

Comments give context to all those reactions and shares, but you probably knew that. Of course, you can use them to improve your content by creating more of what gets positive comments and less of what doesn’t.

More importantly, you should be responding to comments, not only on your videos but also on your pages. Show your fans that you’re paying attention, and they will be engaged followers.

Spark Conversations

Instead of simply reacting to conversations already happening, create and direct the discourse yourself. Invite fans to comment on specific elements of your videos, share their tips, or ask questions.

If you’re a part of the Star program, this is a great way to encourage people to send some your way.

Use the Subscription Function

Subscriptions are a great way to create that velvet rope effect. Create an exclusive space for fans to get updates on content before anyone else. Offer content and giveaways for subscribers.

Make them feel special, and they’ll keep coming back for more.

Put That Mined Data to Good Use

As you’ve seen, Facebook gives you a wealth of analytics about your videos, right down to the minute viewers stopped watching your videos.

Use that information to compare and tweak content, experiment with longer or shorter videos, or introduce and keep track of new content.

Don’t Neglect the A/B Testing Functionality

While it is time-consuming to create more than one video, A/B testing multiple versions of videos will only increase your engagement, and you can’t deny how easy Facebook makes it.

Since they don’t post anything to your page until the end of the testing period (which they do automatically), you really have nothing to lose.

Conclusion

Facebook Watch has had explosive growth and attracted the attention of brands, celebrities, small businesses, and influencers. The sheer number of viewers and the amount of ad revenue on the table makes creating original content for Facebook a no-brainer.

The real trick is pulling the right levers to create engaging videos that get reactions, shares, and comments. If you can get subscriptions, even better.

Dive into your Creative Studio to look at all the advanced tools Facebook offers.

How will you use Facebook Watch to build your audience and boost your revenue?

The post The Advanced Guide to Facebook Watch appeared first on Neil Patel.

Find Business Start Up Loans and Watch Your New Business Explode

You know when it’s nearing the 4th of July and you go shopping for fireworks?  As a kid, you look for the biggest one, assuming it will have the most impact.  You want it to not only look pretty, but also have a powerful boom.  Finding business startup loans can be similar to finding the perfect fireworks for your summer celebration. 

Business Startup Loans Could Be Just the Spark Your New Business Needs

How can you possibly compare business startup loans to fireworks?  It’s really easy when you consider the sheer number of options available when it comes to start up loans, just as there are an overwhelming number of options when you are choosing fireworks.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Traditional and SBA Loans 

biz startup loans Credit SuiteThese are like the sparklers of business startup loans.  They seem easy at first, but if you grab the wrong end, they are not fun at all!  Why are SBA loans lumped with traditional loans?  Basically, SBA loans are traditional loans with a government guarantee. Generally, applications are processed and funds are dispersed through traditional lenders. 

However, not everyone is eligible for a traditional loan.  For those that do not meet the requirements of traditional loans, SBA loans are a viable option.  However, the requirements and government red tape still trip a lot of borrowers up.  Here are the best SBA options for business startup loans. 

7(a) Loans

This loan program features federally funded term loans in amounts up to $5 million. In addition to functioning as business startup loans, these funds can be used to expand an existing business, purchase equipment, or to fund working capital, among other things. Banks, credit unions, and other specialized institutions partner with the SBA to process and disburse the cash.  

The minimum credit score to qualify is 680.  There is also a required down payment of at least 10% for the purchase of a business, commercial real estate, or equipment. The minimum time in business is 2 years, but for start ups, business experience equal to two years meets this requirement. 

504 Loans

These loans are also available up to $5 million. Terms range from 10 to 20 years, and funding can take from 30 to 90 days. They require a minimum credit score of 680, and collateral is the asset it is financing. There is also a down payment requirement of 10%, which can increase to 15% for a new business.  

Like 7(a) loans, there is a 2-years in business requirement, but for startups, if management has equivalent experience that fits the bill.

Online Lenders 

Online lenders are like the roman candles of business startup loans.  They carry more punch than sparklers, meaning they are easier to get your hands on than traditional or SBA loans.  However, if you mishandle them you can be in for a rude awakening.  Here are a couple to help you start your search. 

Upstart

Upstart is an online lender that uses a completely innovative platform for loans.  The company itself questions the ability of financial information and FICO on their own to truly determine the risk of lending to a specific borrower.  Instead, they use a combination of artificial intelligence (AI) and machine learning to gather alternative data.  They then use this data to help them make credit decisions.

This alternative data can include such things as mobile phone bills, rent, deposits, withdrawals, and even other information less directly tied to finances.  The software they use learns and improves on its own. You can use their online quote tool to play with different amounts and terms to see the various interest rate possibilities.  Typically, business loans are available ranging from $1,000 to $50,000.  Interest rates vary greatly, ranging from 7.5% to 35.99%.  Repayment terms can be either 3 -year or 5-year. 

OnDeck 

Obtaining financing from OnDeck is quick and easy. First, you apply online and receive your decision once application processing is complete. If you receive approval, your loan funds will go directly to your bank account. The minimum loan amount is $5,000 and the maximum is $500,000. 

Just like any other online lender, they do have certain requirements to qualify for a loan.  For example, a personal credit score of 600 or more.  Also, you must be in business for at least one year. Annual revenue must be at or exceed $100,000. In addition, there can be no bankruptcy on file in the past 2 years and no unresolved liens or judgements. 

The Big Finish

Now, for that one diamond in the rough.  The one you spot across the tent that promises awe and wonder.  You aren’t sure if it will pay off because you’ve never actually seen one like it in action before.  You wait in anticipation to use it as the big finish at the end of the show and, this time, you are not disappointed.  That’s the credit line hybrid. 

Credit Line Hybrid: The Business Startup Loans Option You Didn’t Even Know Existed

What if there were an option that allowed you to have an even better interest rate than a secured loan, and yet get the money faster and easier than any type of traditional funding.  Imagine being able to get business funding without having to supply bank statements or credit stubs? Now, consider that you could get funding in a few days rather than weeks without supplying any collateral or documents? This is exactly what the credit line hybrid allows you to do. 

Basically, it allows you to fund your business without putting up collateral, and you only pay back what you use.  It’s like revolving credit, without the need for collateral, but with lower interest rates than most credit cards. 

Qualifications? 

It’s not as hard as you may think to qualify.   Of course, good personal credit is key, but your score doesn’t have to be as high as with traditional loans.   Your credit score should be at least 685.  Also, you can’t have any liens, judgments, bankruptcies or late payments.  Furthermore, in the past 6 months you should have less than 5 credit inquiries.  Lastly, you should have less than a 45% balance on all business and personal credit cards.  It’s also preferred that you have established business credit as well as personal credit.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

If you do not meet all of the requirements, it’s okay. You can take on a credit partner that meets each of these requirements.  Many business owners work with a friend or relative to fund their business.  If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding. 

Credit Line Hybrid Benefits

There are many benefits to using a credit line hybrid.  For example, it is unsecured, meaning you do not have to have any collateral to put up.  Also, the funding is “no-doc.”  This means you don’t have to provide any bank statements or financials.  

Going further, typical approval is up to 5x that of the highest credit limit on the personal credit report. Sometimes you can even get interest rates as low as 0% for the first few months, allowing you to put that savings back into your business. 

The process is pretty fast, especially with a qualified expert to walk you through it.  One other benefit is this.  With the approval for multiple credit cards, competition is created.  This makes it likely, if you handle the credit responsibly, that you can get interest rates lowered and limits raised every few months. 

The Right Platform

Of course, location and platform are key elements to any good fireworks show.  You want to have a great, safe place to shoot from.  Beyond that, you want to make sure there is nothing to obstruct vision.  Fundability is the platform from which you shoot off your business startup loans for all to see the beautiful results. 

What’s fundability?  It’s the ability of your business to get funding.  It embraces a number of far reaching factors, but it all starts with the foundation. 

The foundation of fundability is in how your business is set up.  It has to be recognizable to lenders as a fundable entity separate from you, the owner.  How do you make that happen?  Well, like any foundation, it is best to start at the beginning.  If you start with a fundable foundation from the inception of the business, everything will run more smoothly.  However, if your business is already up and running, then you may not have that option.  That’s okay, it’s never too late to start, but start now.  The longer you wait the harder it will be. 

Contact Information

The first step in setting up a foundation of fundability is to ensure your business has its own phone number, fax number, and address.   What may be surprising is, that doesn’t mean you have to get a separate phone line, or even a separate location.  You can still run your business from your home or on your computer.  You don’t even have to have a fax machine.  

In fact, you can get a business phone number and fax number pretty easily that will work over the internet instead of phone lines.  In addition, the phone number will forward to any phone you want it too so you can simply use your personal cell phone or landline if you want.  Whenever someone calls your business number it will ring straight to you. 

Faxes can be sent to an online fax service, if anyone ever happens to actually fax you.  It may seem outdated, but it does help your business appear legitimate to lenders. 

You can use a virtual office for a business address. How do you get a virtual office?  What is that?  It’s not what you may think.  This is a business that offers a physical address for a fee, and sometimes they even offer mail service and live receptionist services.  In addition, there are some that offer meeting spaces for those times you may need to meet a client or customer in person. 

EIN

The next thing you need to do is get an EIN for your business.  This is an identifying number for your business that works in a way similar to how your SSN works for you personally.  You can get one for free from the IRS.

Incorporate

Incorporating your business as an LLC, S-corp, or corporation is necessary to fundability.  Lenders are more likely to believe you are a legitimate business if your business is incorporated. Incorporation also offers some protection from liability. 

Which option you choose does not matter as much for fundability as it does for your budget and needs for liability protection.  The best thing to do is talk to your attorney or a tax professional.  When you incorporate, you become a new entity.  That means you start over with credit history and time in business.

This is why you have to incorporate as soon as possible.  In itself it is necessary for fundability, but time in business affects fundability also.  The longer you have been in business the more fundable you appear to be.  That starts on the date of incorporation, regardless of when you actually began doing business. 

Business Bank Account

You have to open a separate, dedicated business bank account.  There are a few reasons for this.  First, it will help you keep track of business finances.  It will also help you keep them separate from personal finances for tax purposes. 

There’s more to it however.  There are several types of funding you cannot get without a business bank account, and some lenders and credit cards want to see a business account  with a minimum average balance.  In addition, you cannot get a merchant account without a business account at a bank. Without that, you can’t take credit card payments.  Studies show consumers tend to spend more when they can use a credit card.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Licenses

For a business to be legitimate it has to have all of the necessary licenses it needs to run.  If it doesn’t, red flags are going to fly up all over the place.  Do the research to ensure you have all of the licenses necessary to legitimately run your business at the federal, state, and local levels. 

Make Your Business the Brightest

Let’s be real.  There’s a lot more at stake when you are choosing business startup loans than when you are choosing fireworks.  In the end however, the goal is the same.  You want the one that gives you the most bang for your buck.

The post Find Business Start Up Loans and Watch Your New Business Explode appeared first on Credit Suite.