Get More People To See More Of Your Products With Facebook’s New Product Ads
In February, Facebook announced the launch of Product Ads, a solution designed to give online retailers the power to highlight a variety of their products on the social platform. This addition is exciting for retailers, because it gives you the power to:
- Reach people who’ve visited your site or app
- Reach people based on specific interests, locations, etc.
- Curate your ads as you wish (such as create a multi-product ad that shows the benefits of a single product)
With this level of control, Facebook retailers can now target customers throughout their journey, from discovery/awareness all the way through to purchase.
Engage And Be Relevant With Facebook’s New Product Ads
If Target is any indication, then online retailers should expect to see great returns from Facebook’s new Product Ads. As Kristy Argyilan, Senior VP of Target, said, the company has been able to more easily engage consumers using highly relevant and creative content. As a result, Target has enjoyed a 20% increase in conversions with their new dynamic product ads, when compared to other Facebook ads.
Get To Know The Dynamic Power Of These New Product Ads
Facebook’s dynamic product ads help you promote products to consumers who are browsing on your website or mobile app. The benefits of using dynamic product ads include:
- You can reach people with ads across any device they use, no matter what their original touchpoint was
- You can set up campaigns one time to reach people with your products at the optimal time
- Increase conversions by showing highly relevant ads
- Promote all of your products with unique content without having to mess with each and every ad
The 3 Steps to getting started with dynamic product ads
- Upload your existing product catalog to Facebook Business Manager.
- Modify your Custom Audience pixel with custom data events to report the products being viewed, added to cart, and purchased.
- Set up your dynamic product ads template (using Power Editor or with the help of a Facebook Marketing Partner).
The changes made to Custom Audiences in recent weeks have helped to improve the results seen by retailers, including premium jeans retailer Twenty Jeans. Such enhancements include:
- Allowing businesses to build certain kinds of audiences with ease (such as those who haven’t visited your site in a while, or those who visit certain pages on your site)
- Adding new limits to audiences to help you build highly targeted segments for various products in your catalogs
- Automatically build audiences based on a consumer’s past history on your website
A closer look at carousel link ads in Facebook
Carousel link ads (or multiproduct ads) give retailers the freedom to show multiple images and links. In other words, you can now show off more with less. Having more images and links in one ad allows you to do so much within Facebook, including:
- Show more products
- Tell a story (walk your customers through the highlights of a product)
- Get more detailed about your product or services
Advertisers have seen up to a 50% decrease in their cost per acquisition, and a 30% decrease in cost per click, thanks to these carousel link ads. With these dynamic ads, you can dictate the order of your images, or you can choose Facebook to optimize the order for improved results.
So Much To Digest. Where Do You Go From Here?
These new dynamic product ads from Facebook are a huge change (and benefit) for online retailers. It’d take the better part of your year to fully grasp the potential of these product ads. Luckily, OperationROI can help you make the most of Facebook’s Product Ads without having to commit endless man-hours or effort. Call us today at 1-888-277-5429, or fill out our contact form, to learn more.