In a recent post on the official Facebook blog, the Social Media juggernaut announced they have launched a new type of ad format that will allow retailers to advertise multiple products at once. Called ‘Product Ads’, this new format allows retailers to promote multiple products, or even their entire product catalogue, across all devices.
According to Facebook themselves:
“Product ads offer businesses a number of ways to highlight different products on Facebook. Marketers can upload their product catalog [sic] and create campaigns targeting certain products to specific audiences, or let Facebook automatically deliver the most relevant products to people.”
The real benefit of this new ad format is that it allows retailers to advertise products at different stages in the customer journey. For example:
- 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.
This new format is similar to Google’s Shopping Campaigns, allowing retailers to optimise their product ads as they go. This will give retailers greater control over what products they are advertising, to whom, and when. For online retailers, the format offers even more options, for example when linked to the retailer’s stock database, Facebook will automatically shut off any ads for products that have sold out.
USA retailers, Target and Shutterfly, were part of an early trial of these new placements and experienced huge success. As it now rolls out, there is no doubt New Zealand retailers will be jumping on board very soon.
It is the constant battle cry that big data is way forward, but data is only as powerful as the tools we have to use it. As brands continue to look for intelligent ways to use data, websites such as Facebook and Google will continue to create tools such as Product Ads to meet brands’ needs.
Author: Edward Bell (Senior Creative)