Facebook Introduces Product Ads

Facebook introduces Product Ads that let advertisers promote products with Dynamic Product ads, multi-product ads or promote the entire Product catalog with a call to action in the advertisement.

The dynamic product ads and multiple product ads help retailers showcase products with a positioning that is unique for each product. The advantage of product ads is that it links directly to your Product URL leading to greater conversion lift. It is like response driven advertising or direct mail that helps you target the set of audience that you want to reach for increasing online sales or conversions for your products. While offer based advertising and other brand advertisements maybe good for creating awareness for your brands, product ads offer a unique opportunity to create a showcase for your Products with targeting options based on interest, behaviors or with custom audiences targeting your website visitors.

Facebook dynamic product ads helps you promote relevant products to shoppers browsing your product catalog on your website or mobile app.
Scale: Promote all of your products with unique creative without having to configure each individual ad
Always-on: Set up your campaigns once and continually reach people with the right product at the right time
Cross-device: Reach people with ads on any device they use, regardless of their original touch-point for your business
Highly relevant: Show people ads for products they are interested in order to increase their likelihood to purchase

Multi-product ads are similar to link ads, except they let you include up to five images at a time. Multiple product ads give a larger choice, with more reasons to buy from you and at the same time provide an opportunity to re-market to your website visitors in addition to other targeting options such as custom audiences.

Product ads offer businesses a number of ways to highlight different products on Facebook. Marketers can upload their product catalog and create campaigns targeting certain products to specific audiences, or let Facebook automatically deliver the most relevant products to people. Products can be shown in single or multi-product ad units.
Product ads can be customized for use throughout the customer journey, from discovery and awareness through purchase.

According to the post on Facebook for Business, retailers are already seeing results,

“With dynamic product ads, Target has been able to more easily engage consumers with highly relevant creative. The early results have exceeded expectations, with a 20% increase in conversion compared to other Facebook ads. Performance has also been especially strong with people shopping on mobile devices — an important and fast-growing area for Target — where we’re seeing two times the conversion rate.” — Kristi Argyilan, Senior Vice President, Target

Facebook Product ads are available on Marketing Partners API and will roll out to Power Editor soon.

Steps to Creating a Dynamic Product Ad

Create a Product Catalog
Create and Schedule a Product Feed
Create a Product Set
Set up your Custom Audience Pixel to track events Dynamic Product Ads
Create a Product Audience
Create a Dynamic Ad Template
Create a Dynamic Ad Group
Fetch per product ad statistics

Dynamic products ad appear on Facebook News Feed and Right Hand Column. With one dynamic ads template you can deliver ads on any device mobile, tablets, and desktop. By adding a Facebook conversion pixel advertisers can receive reports on which product ads were most successful even when a purchase is made on a device other than where your ad was served.

Recently Facebook has added Relevancy Score for ads that will help advertisers better understand the ads that are liked by the audiences.