This is the fourth and final article in a series on the nuts and bolts of Facebook Dynamic Ads. See our previous articles:
- Acing cross-sell and upsell campaigns
- Achieving better results
- Using the right metrics to measure and refine success
When Dynamic Ads first rolled out, scalability was based entirely on the volume of traffic to your website. This was a serious limitation for small to mid-size companies without a ton of traffic to their owned properties.
Enter Broad Audiences, a new way to expand the reach of your Dynamic Ad campaigns, by serving more relevant ads to people who haven’t visited your website. This is a must for direct response advertisers looking for a cost-efficient way to find new customers and increase sales.
The 411 on Broad Audiences
- How is Broad Audience targeting different than lookalikes? Facebook looks at people who liked pages and browsed particular products across the web that match the products you’ve defined in your product sets. Complex algorithms work in the background to do this matching for you. A name-brand jeweler saw a 357% increase in return on ad spend when shifting from lookalikes of Website Custom Audience traffic to Broad Audiences.
- Should we be using Website Custom Audiences (WCAs) or Dynamic Ads? If you have a product catalog of more than 10 SKUs, then you should transition from Website Custom Audiences to Dynamic Ads.
A Refresher on the Key Benefits of Dynamic Ads
Broad Audiences is a great new feature, but why consider Dynamic Ads to begin with? Well, it’s kind of a no-brainer. Because of the efficiencies, time savings, and improved performance, we here at Marin Software expect feed-based ads to become the backbone of online ad delivery in the not-so-distant future. Here’s what retail advertisers stand to gain with this pace-setting innovation.
Dynamic Ads allows advertisers to create ads automatically with unique creatives without having to configure each individual ad one-by-one. All of the elements necessary to launch an ad on Facebook can be pulled from your product feed. This includes information like content ID, name, price, availability, image URL, landing page URL, and more.
Another key benefit of Dynamic Ads is the ability to sync with your product feed in real time, meaning your ads will always be up to date with relevant information. As information in your product feed changes, your ad creative automatically updates to reflect those changes. Real-time relevance greatly reduces the risk of advertisers potentially spending money on ads for products that may be out of stock or have a history of poor performance.
You can further enhance static product images from your feed with Marin’s Smart Image Templates. This is a significant time saver, as you don’t need to be a professional designer to create compelling ad creative. Also, you can choose from an existing library of templates or create your own. For example, you could use a macro of [Sales.Price] in your ad copy that would pull the value from your feed in real time across all of your ad creatives.
With Dynamic Ads you can capture intent data across each stage of the customer journey and optimize performance accordingly. Not only can you increase the lifetime value of your customer base—you can also find new customers to boost your top-line revenue.
Interested in Marin Social’s capabilities for Dynamic Ads on Facebook?
If you’re interested in implementing Dynamic Ads into your paid media strategy, contact your CS representative today. Or, if you’re new to Marin, you can schedule a demo.