As you may have heard by now, Facebook has recently announced its latest feature to its advertising community: the Dynamic Product Ads. This new feature has left a lot of advertisers excited about the future. The Dynamic Product Ads, or the Facebook Dynamic Product Ads, is everything that the hype has been building and more. If you're looking to improve the advertisement of your products and its sale then you will surely be excited to hear what all is in store for you.
Just take the example of HostelWorld, a leading global hostel accommodation platform. Hostelworld claims that the Dynamic Product Ads helped them reach the right audience at the right place; by using this new feature, they were able to efficiently reach out to the audience that were most likely to buy their product. The personal touch. Hostelworld claims that in only two weeks of using the new Dynamic Product Ads they experienced amazing improvements in their results in comparison to its previous programs. Their cost per acquisition reduced by threefold while their return on investment more than doubled! They also experienced a 44% increase in their click-through rate.
How does the Dynamic Product Ads make all of this possible? Well, it has 5 main benefits that you can take advantage of to achieve your desired results.
That's right! This new feature will actually allow you to save some of the precious time that you spent on trying to create the perfect ad. It's as if Facebook heard our unsaid desire to leave office early for a change and decided to oblige! How does it save off our time? It does it in a very simple manner, actually. You'll first need to have your product catalog ready. A product catalog (sometimes referred to as product feed) is the list of all the products that you want to advertise on Facebook. In this catalog, each ad will have basic information, such as its name, ID, description and more, that are necessary in order to generate an ad for that product. Before, you would have to manually provide all the information of the product when creating an ad for it. Now, you won't have to go through this anymore! The new feature allows you to create a Dynamic Ad Template. With this template, you basically just create one ad template! Facebook will then automatically go through your product catalog, find the product you wish to create the ad about and pull all the relevant information itself. Were you ever tired of doing this cumbersome work? Rejoice then; this benefit of the new feature is probably the one you'll love the most.
Remove out-of-stock Products!
Every advertiser will know the pain of this: ads circulating Facebook about a product that has been sold out. What's the point of wasting that precious space and money when it could have been spent on something else? No need to worry anymore, the Facebook Dynamic Ad has solved this problem. The product catalog feed tells Facebook whether or not the product whose ad is circulating is in stock (god bless product catalog!). Therefore, when the product catalog feed tells Facebook that a product is not in stock anymore it will remove the ad itself! This is a great addition that prevents wastage! Imagine a customer being intrigued by an ad and deciding to buy a product that is sold out. This new feature helps avoid upsetting potential customers like that.
Reach more people!
An advantage that no advertisers will every say no to, the new Facebook Dynamic Ads allow you to reach more people with your ads through one new addition: more devices! That's right, you can now reach people on any device that they are using to view your product, irrespective of their original touch point. This was not possible with Facebook Exchange and it's an addition that is much appreciated by all advertisers. People are now changing the way they search for products. More and more people are becoming dependent on the internet, not through their desktop, but through their mobiles! This new feature will also help businesses attribute how much influence a mobile device had on a final sale.
Create more relevant ads!
Facebook Dynamic ads will also help you target a certain audience that you want! For example, maybe you want to target customers who don't seem to be viewing your websites anymore; perhaps you want to create a specific ad that targets only them. Well don't worry, because now you can! Through a new feature that is present in Ads Manager and Power Editor, you can actually select the option of "People who have not visited in a certain amount of time" in order to select your targeted audience. Other types of audiences' options, like "People visiting a specific web page and not others" are also available in order to help you target a relevant audience to your ad. This allows you to have different audiences for different products in your catalog! Talk about being relevant, Facebook is now allowing you to become very specific with what type of product you want a certain type of people to see.
Target specific people!
If you thought the audience option was amazing, then you will surely be blown away from this. What Facebook calls 'Dynamic Retargeting', you will now be able to know which person viewed what product from your catalog. This way, you'll be able to target that person with ads of the same or similar products in order to boost your chances of creating a sale. This new feature will inform you when a specific product ID from your catalog is viewed, added to a cart or has been purchased. This way, when someone visits your website and looks at only a limited number of products, among perhaps thousands, you will be able to target that customer with the ads of those few products that the person viewed; thus, you can figure out the likes and preferences of a customer and targeting them with the ads of the products they might be interested in. Familiarity breeds contempt.
This new Dynamic Product Ads is very similar to the Google remarketing display ads. Both help you automatically reach the maximum number of potential customers after they have visited your website. However, instead of showing lots of products from different advertisers in response to specific terms like Google does, Facebook targets audiences based on their history on the advertiser's website or in their app.
Facebook Dynamic Product Ads have certainly opened up many possibilities for advertisers all around the world. No matter what business you're running or what product you are selling, you can certainly gain an advantage from using the Dynamic Facebook Ad that has just been released. It is not only beneficial, but it is a smart and efficient way of bringing your product to the right people - the essential goal every advertiser wants to achieve.
You can take advantage of this amazing new offer by going to facebook.com/business. You will be given a step by step explanation on how to create a product catalog and what ways of using this new ad will result in the best possible result. So wait no more, go use the new Facebook Dynamic Ad and witness the improved results yourself! Happy selling!