The Nitty Gritty on Facebook’s New Product Ads
Fine Tune Your Target Audience & Increase Your Conversion Rate
Facebook recently rolled out a new advertising option called “Product Ads”. These ads allow businesses that have multiple products promote more than one item at a time. According to Facebook’s Product Ad news release, “with product ads, businesses can showcase more products and people on Facebook can discover more relevant products.” Targeting the right audience is the key to improving your click-through conversion rate.
So how do Product Ads work?
As an advertiser, you can upload your product catalog and create campaigns that target certain products to specific audiences. Or you can let Facebook do the targeting automatically so that your ads are showing the most relevant products to consumers. Products can be shown in single ad units or multi-product ad units and the product ads can be customized throughout the customer’s journey. For example, advertisers can reach people who have already visited their website or based on specific indicators, such as location, interests, etc. Advertisers also have the option to highlight products that were viewed on their website or best-sellers. You can even create a multi-product ad to highlight the different benefits of a particular product.
Helpful Product Ad Tips (from Social Media Today)
1. Templates are available to help save time. These templates work for Facebook Newsfeed Ads and Sidebar Ads. They are also responsive so they are optimized for desktop, mobile and tablet display.
2. Facebook Product Ads are different from Google Product Listing Ads (PLAs). Facebook Product Ads are based on a consumer’s experience with your website or on Facebook’s targeting parameters, whereas Google PLAs are based on search terms.
3. Product Ads come with more flexibility in targeting your audience. “You’ll be able to build audiences based on parameters like “People who haven’t visited in a certain amount of time,” and “People visiting specific web pages but not others.”
4. You have to have a Facebook Manager Account to manage your Product Ads. You can sign up here if you don’t have one yet.
5. You will need to set up a Custom Audience Pixel on your website to track consumer’s behavior and associate the pixel with your Product Catalog. Here’s a step-by-step tutorial.
Product Ads are available through Facebook Marketing Partners.