Meta has announced two new ad types in testing, as part of its presentation at ShopTalk 2023, with managed partner ads, which provide another way for businesses to use their CRM insights for targeting, and local inventory promotions for more specific focus.
First off, on Manager Partner Ads – the new process will enable retailers to partner with retail media networks, via their CPG partners, to improve their ad targeting, which will provide new options for ad personalization.
The system essentially enables retailers to incorporate their own CRM data, via a media network/partner, to enhance their ad targeting.
As per Meta:
“Early results from Managed Partner Ads Lite testing shows that the experience is driving incremental, omni-channel performance for brands. Walgreens Advertising Group, a retail media network, partnered with Meta and a large national CPG brand to activate a campaign, optimizing for online sales of 75 SKUs. This drove a 3.9% lift in Health Remedies and a 2.5% lift in Skin Care products sold.”
It’s something for bigger retail brands, but it could provide a valuable pathway for improved targeting amid the restrictions on audience data instituted by Apple’s iOS 14 update.
And anything that can help in this regard will be of benefit. Meta hasn’t provided a heap of detail as yet, but it could become a valuable consideration for stores that stock larger brands.
Meta’s also testing new Local inventory ads, which will enable businesses to dynamically target users near their stores ‘with relevant product availability and pricing’.
That would be relative to the tracking enabled on user devices, but it could be another way to reach local audiences with highly relevant, dynamic promotions.
Restrictions on data tracking have upped the difficulty level for Meta advertisers, and the company’s working to provide new tools to counter data loss, and facilitate all new types of advanced targeting that can drive improved performance.
These are the latest of many solutions that Meta has in development, and with its AI targeting tools constantly improving, they could facilitate new pathways to maximizing your Meta ad spend.
You can read about Meta’s coming targeting advancement for retailers here.