The social platform announced a 53% uplift in ad revenue in Q4 (Balakrishnan, 2017) which comes as no surprise as more and more advertisers are incorporating Facebook to their overall marketing strategies.
In the last couple of years, advertisers have been able to prove that clients’ social channels such as Facebook can provide positive ROI campaigns (at R.O.EYE we can provide clients with CPA model campaigns for social activity). Driving incremental new users to client sites and converting existing customers down the funnel has become much easier with the new product updates arriving in the last year.
One of these product updates has been the extension of dynamic product ads into the Instagram platform. For those of you who are still to trial dynamic product ads on Facebook please let me stress on the ability of this ad type to drive users down the funnel.
As you might have guessed from its name, this ad type dynamically populates adverts using the clients product feed. This has meant a more personalised experience for users and has enabled advertisers to increase sales within the platform through mobile. Our retail clients have seen brilliant results within the first month of trialling dynamic ads, in fact in some cases we’ve seen up to 97% decrease in cost of sale. So you can imagine how excited we advertisers are that we can now replicate these results across the 600m monthly active users that represent Instagram.
Four days ago, Facebook announced a new incorporation to this new ad types aimed not only to generate brand awareness but to convert users at the same time called “Collection”. This new mobile ad type, which is already available for advertisers to use within Power Editor, enables advertisers to showcase videos or images alongside a product feed of up to 50 products. As with Canvas ads, Collection uploads faster than any other ad type as it’s hosted within the Facebook platform, only when users click on a product image they get directed to your webs
ite or mobile app.
My last recommendation comes from the latest custom audience update. For anyone who starts using paid promotions on Facebook, making full use of the Facebook pixel is a must and that includes using custom audiences. You can build audiences from your website or the different events, this will enable you to create lookalikes (probably one of the most successful audience profiles you can test) and understand what your audience does on site.
The new implementation tries to understand the difference in users, meaning there are users who will visit your site once a month and others who will visit every week, the likelihood is the most frequent ones will end up converting into a purchase. To provide your client with useful information, this new targeting will enable advertisers to differentiate between users by understanding how many times they perform a certain action (visit a specific page) or how long it takes to perform that action. For marketers, this new feature allows splitting audiences further by intent and improves current bidding strategies.
If you would like to learn how R.O.EYE can boost your social presence and increase your online sales, please contact me on firstname.lastname@example.org.