The internet is a vital part of advertising and online promotion can have a huge impact on retailers, so Facebook is improving their ads to better smooth over the transition between client and company. As stated on Tuesday, the social media network will be looking to boost its advertising skills by introducing the users to new type of ads.
And it’s not just on Facebook. The Dynamic Product Ads are the social media company’s response to Google’s Product Listing Ads, who has shown excellent results for the tech giant. For example, retailers and other companies have spent 47% more on shopping ads in the holiday season of 2014 than they did a year ago.
With growing numbers, Facebook is now making a change in order to attract more retailers by improving on the way they feature ads across their website. And considering they’re standing at 1.4 billion users and are the most popular social media network worldwide, it’s quite clear that they have a large audience to target.
The biggest and, likely to be most popular, part of Facebook’s Audience Network, are the native videos, which are auto-playing clips featuring promotion of products or commercials around the website. They are quite possibly the most successful form of online advertising at the moment, and it fits well into the social media’s trend of delving deeper into the video-sharing market.
Now to be found in your News Feed and made available for third party networks, ads will be targeting specific audiences by displaying products of websites that users have visited in the past, live nearby the retail store or applies to their interests. For example, if the user has shown a preference for a particular store or designer, it will feature more products of the same company.
The update focuses heavily on targeting specific buyers and zeroing in on products related to previous purchases, along with attempting to display more ads for users who have been prone in the past to purchase an item. According to Facebook, it would be more efficient to charge in a pay per purchase manner instead of the regular pay per click.
Those who click on the ad may not necessarily actually buy a product, a fact well known to most online users. While that may cut down on the number of clicks, they will switch their priority from the quantity of clicks to the actual number that is more beneficial for the retailer.
The social media networking website is also adding click-to-play formats for their ads (most popular and useful for games) and carousel ads (showing sequential images).
Image source: adweek.com