Retailers rejoice! Today, Facebook has announced a new ad type: Product Ads.
The new units will help marketers advertise specific products to specific people by using a more automated avenue. Advertisers will have the ability to promote specific or multiple products in their catalogs to various audiences.
The efficiencies for marketers will come in a variety of formats. First, marketers can leverage multi-product ads that highlight different items and elements.
According to the official Facebook announcement, the multi-product ad can also be used to highlight “the different benefits of a single product.” These multi-product ads will allow for up to five ad iterations to help advertisers boost clicks and conversions.
The other boon that comes with the ad format is the ability to dynamically promote specific products. The dynamic product ads will work with both single and multiple product ads for both web and app visitors.
To get started, advertisers will need to upload their product catalog to Facebook Business Manager, then create a list of the products that they’d like to advertise.
Once completed, they’ll need to set up their custom audience pixel (or SDK, if for an app) to track viewed products, added products and purchased products. Then, a template for the ads will be created that will be dynamically filled with the proper products.
Product Ads are available today via API access, and the functionality will roll out to Power Editor in the coming weeks. For more information, see the official Facebook post, more on dynamic product ads or more on multiple product ads.
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