Published on February 25th, 2015 | by Lisa Furgison0
Facebook Launches Product Ads
Showcasing your products on Facebook just got easier. The social media site just launched Product Ads. What makes these ads different than other Facebook ads? Two things.
First, they come with advanced targeting methods. You can get your ad in front of the right audience with a few clicks.
Second, Product Ads allow you to show customers more than one product per ad. You no longer have to pick one product or service and hope that it resonates with your audience. Now, you can showcase several products.
This new advertising option has been in the testing phases for months, but with solid feedback, Facebook has decided to roll out Product Ads for everyone. Here’s what you should know about this new advertising tool:
What do Product Ads mean for you?
- Take the guesswork out of adverting
You can upload your entire product catalog and let Facebook create ads for you. Using an algorithm, Facebook will select the best target audience to show your ads to.
Right now, small business owners have to do a lot of trial and error. You pick a product to highlight and select an audience based on a few parameters like location. This new feature is supposed to eliminate the guesswork and hone in on the most viable viewers.
- Get ads in front of shoppers
If a potential shopper browses your website, you can set up a Product Ad to show up in that shopper’s newsfeed. It’s another example of the high tech targeting options you have with these new ads.
- Multi-product ads
One of the most appealing Product Ad features is its ability to showcase several products. After all, most companies sell more than one product or service, so why limit adverting to just one thing?
These multi-product ads show up to three products. Each has its own image, description and link. On a mobile device, customers can swipe through the series of images and tap the screen to go to the seller’s website.
Facebook shared this image to show what the ads look like:
- Real time updates
Product Ads update based on your inventory. If a product goes out of stock, the ad will update itself and stop showing that item to your audience.
What kind of response are Product Ads getting?
Target and Shutterfly are among the heavy hitters that tested the new ads. According to statistics supplied by Facebook, Target saw a 20 percent increase in conversions compared to other Facebook ads.
Shutterfly had similar results, and said the ads allowed their business to showcase products “in a clean and engaging way.”
Nomorerack, an online retailer, used the multi-product ad and reported a 42 percent increase in clickthrough rates.
Where can you find this new feature?
If you’re using one of Facebook’s Marketing Partners, you can access the ads through them. In a few weeks, everyone will be able to access the ads through the Power Editor.
Facebook also launched a Relevance Score to help small businesses advertise on its platform. What do you think of the recent advertising changes on Facebook? Share your thoughts in the comment section below.
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© 2015, Lisa Furgison. All rights reserved.