Facebook Product Ads Live in Power Editor:
The latest product advertising program could lead to groundbreaking revenue for both the social network and retailers thanks to their advanced user-data and targeting capabilities.
At this time, the white list for dynamic product ads has been lifted and all accounts should have access as of today.
According to Facebook, Product Ads are designed to help businesses promote their entire product catalog across all consumer devices. With Product Ads, retailers have another avenue to promote inventory, while Facebook users can discover more relevant products in a native setting.
What are Facebook Dynamic Product Ads?
Facebook’s dynamic product ads allow retailers to create relevant and timely ads on Facebook based on the products people have visited on their website or app.
According to Facebook, these ads are best for retailers and e-commerce businesses with large product catalogs who want to create personalized ads for their shoppers.
Dynamic product ads look identical to other single or multi-image ads that are available on Facebook and appear in the News Feed and the right column. However, instead of individually creating an ad for each product, Facebook creates the ads for retailers and personalizes them for each of their shoppers.
From awareness to purchase, advertisers can cater to the user’s journey through a variety of targeting options including:
- Dynamic product serving: Automatically serves product ads based off of the retailer’s most relevant inventory. This automatic targeting is based off of user interests, locations and more.
- Manual product selections: Manually serve product ads based off a chosen product segment. This targeting option allows the retailer to feature, for example, their best selling items.
- Multi-product ads: Enable businesses to showcase three products within a single ad unit, on desktop or mobile. Each product highlighted will have its own image, description and click target. The below image is an example of a multi-product ad on Facebook’s mobile application.
What is required to create Facebook Dynamic Product Ads?
There are four basic requirements for creating dynamic product ads:
Set up Business Manager
Organize a product catalog and upload it or link it to Business Manager
Install the custom audience pixel and use custom data events to report which product IDs from your catalog are being viewed, added to cart, and purchased.
Create a dynamic product ad by logging into Power Editor and choose the Product Catalog Sales objective.
How Do I Create a Dynamic Product Ad in Power Editor?
Step 1) Go to Power Editor
Step 2) On the Campaigns tab, click to create a new campaign. Enter a name for your campaign, and select the Product Catalog Sales objective. Click Create.
Step 3) Go to the Ad Sets tab, click to add a new ad set. Choose the campaign you just created, give your ad set a name and click Create.
Step 4) In the ad set, under Products, click . Select the product catalog you want to use. You can choose to advertise your entire product catalog or use the filters to focus on a portion of it. Give your product set a name and click Create.
Step 5) Select the product set you just added. Set a budget for your ad and any ad scheduling.
Step 6) Choose the audience behavior you want to target in your ad. You can choose people who viewed the product but didn’t buy it, added the product to their cart but didn’t buy it, or viewed or added the product to their cart but didn’t purchase.
Step 7) You can also choose to add more targeting, but keep in mind that since the ads will only run to people who’ve already been to your website and interacted with a specific product in your catalog, the audience for the ad will be relatively narrow. Additional targeting might reduce the reach of your ads so that they don’t perform as well.
Step 8) Set any other optimization or delivery options for the ad set.
Step 9) Go to the Ads tab, and click . Choose the campaign and ad set you just created, give your ad a name and click Create.
Step 10) Under Ad Template Options, choose whether to show a single image in your ad, or to show multiple images that scroll. Edit any of the template text for your ad. We’ll show you an example in the Preview Ads area.
When you have finished making changes, click the Upload button. Your ad will go live immediately, or if you have scheduled it to run at a specific time, we’ll run it then.
Note: Reach out to firstname.lastname@example.org for additional suggestions or if you are having any trouble setting up your campaign.
How will Facebook Dynamic Power Ads in Power Editor impact retailers?
“My personal stance on this is that this will not be a huge game changer, but is definitely a welcome addition to the FB marketer’s arsenal. The dynamic product ad remarketing functionality has long been available via third party display vendors, but the ability to run these via FB directly allows us to cut out the middleman in terms of direct costs, and also grants access to Facebook’s extremely robust suite of targeting capabilities.”
“This last portion is to me is the best aspect of dynamic product ads finally being run direct instead of through FBX, but also the part which will make the proper and on going management of this ad format all the more important,” – Josh Brisco, Sr. Retail Search Manager at CPC Strategy
Facebook Product Ad Resources:
- Facebook Product Ads: A Retailer’s Guide To Facebook Advertising
- 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?