Facebook Advertising Announcements
Facebook continues to fine tune their advertising platform with the latest announcement of several new upgrades including lead generation ads, equal ad distribution within ad sets, and 10 second video preview on autoplay ads.
Below we’ve summarized how each of these updates will impact retailers and their marketing efforts in the near future.
Lead Generation Ads
To avoid the inconvenience of filling out forms, Facebook is now testing lead ads, a new, simpler way for people to complete forms on their mobile devices. According to Facebook’s announcement, “Lead ads make the mobile signup process easier by automatically populating contact information that people have given Facebook, like email addresses. We’re testing different versions of lead ads that would let people sign up for things like newsletters, price estimates, follow-up calls and business information.”
The “native signup flow” within Facebook should help avoid the pain points that are usually associated with filling out forms, transitioning from one app to another and having to start over from scratch.
Now in just a couple “taps” users can easily access, fill out and complete the form as seen below:
Privacy will remain a key component according to Facebook, “People can edit their contact information, and information isn’t sent to the business until a person clicks the “submit” button. Advertisers may only use this information in accordance with their privacy policies, which we make available in the lead ad before people click submit. Advertisers are also restricted from re-selling lead information to third parties.”
Currently, “lead ads” are limited to a small group of businesses around the world.
Lead Generation Ads are currently being tested for users to sign up for things such as price estimates, newsletters, and follow-up calls or information.
“Getting landing pages to convert on mobile is a huge challenge but this should lead to much higher conversion rates,” Rick Backus CEO of CPC Strategy said.
Equal Ad Distribution with Ad Sets
Facebook recently announced an upgrade to their algorithm by providing optimized ads within ad sets both individually and separately. Previously, it was difficult to run accurate split testing for campaigns based on the fact that one ad typically ran more often with increased impressions than the other.
Retailers did have the opportunity to work around this imbalance by creating many Adsets (with one Ad in each). This proved to be tedious and time consuming. The latest development will ensure that the budget and impressions for each ad will be more evenly distributed in the future.
10 Second Video Preview (Autoplay) Ads
According to reports, ads account for more than 90% of Facebook’s current revenue. Previously, Facebook’s original cost-per-impression or (CPM) model would immediately begin charging a retailer once their video was played. This was considered unfair by some retailers, since many of their videos did not necessarily convert well.
Now, brands can choose a second option based on a cost-per-view (CPV) model that ensures retailers will only be charged after a Facebook user views their video for at least 10 seconds. The hope is that this will avoid cost waste on users who are scrolling through their feeds and not likely to convert.
For more on developing Facebook Advertising strategies email [email protected]
Facebook Product Ad Resources:
- Facebook Product Ads: A Retailer’s Guide To Facebook Advertising
- Facebook Dynamic Product Ads Live in Power Editor
- Facebook Friend-To-Friend Payments Paves the Way for Ecommerce Platform
- Facebook on the Forefront of Retail Advertising with TheFind Buyout
- Q&A with Brian Carter Bestselling Author of ‘Facebook Marketing’
- 5 Retail Experts Weigh in on Facebook Product Ads
- How to Get a Higher ROI on Facebook Ads Using AdEspresso
- Will Retargeting Platform AdRoll Brave the Launch of Facebook Product Ads?