Facebook announced New Product Ads

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Facebook just announced New Product Ads – a feature that should help businesses that sell more than one product online. If your business has lots and lots of products to advertise, all that variety at the moment can present some challenges with the adverising. How do you highlight more of your products? How do you advertise the right products to the right people? On the 17th February Facebook introduced product ads, a solution designed to help businesses promote multiple products or their entire product catalog, across all the devices their customers use. With product ads, businesses can showcase more products and people on Facebook can discover more relevant products.

Promote more products
Product ads offer businesses a number of ways to highlight different products on Facebook. Marketers can upload their product catalog and create campaigns targeting certain products to specific audiences, or let Facebook automatically deliver the most relevant products to people. Products can be shown in single- or multi-product ad units.
Product ads can be customized for use throughout the customer journey, from discovery/awareness through purchase. Here are some options:
  • Advertisers can automatically reach people who visited their website/app (via Custom Audiences), or reach people based on specific interests, locations, etc.
  • Advertisers can curate ads as they see fit. For instance, they can highlight products that were viewed on their website/mobile app or showcase best selling products. Or they can create a multi-product ad that highlights the different benefits of a single product.

 

Product ads also utilize features that help create a better ad experience. For example, when an advertiser uses automatic delivery of product ads, our system will turn off ads for specific products when they’re out of stock.
Ads that drive results
With dynamic product ads, Target has been able to more easily engage consumers with highly relevant creative. The early results have exceeded expectations, with a 20% increase in conversion compared to other Facebook ads. Performance has also been especially strong with people shopping on mobile devices — an important and fast-growing area for Target — where we’re seeing two times the conversion rate.” — Kristi Argyilan, Senior Vice President, Target
As mobile usage continues to grow, so do the options for targeted, personalized digital ads. We find the most success when we embrace native formats, enabling us to deliver highly relevant and timely messages that generate business results for our clients. Through dynamic product ads and Custom Audiences we have now extended our programmatic retargeting efforts into Facebook mobile, complementing our existing work with Facebook Exchange (FBX) program. Early tests have resulted in strong return on ad spend for our clients.” — Jonathan Wolf, Chief Product Officer, Criteo, a Facebook Marketing Partner
The multi-product ad unit allowed us to display a variety of products we offer at Shutterfly in a clean, engaging way. The ability to control product order placement offered gifting inspiration for our current customers and created a natural introduction of products for our new customers, resulting in a 20%+ increase in click through rate.” — John Boris, Chief Marketing Officer, Shutterfly.com
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