It’s been awhile since Facebook introduced a way for advertisers to retarget customers looking at their site and now they are adding a feature that will extend retargeting to customers looking at other products on your competitors sites as well as to Facebook followers. This is feature will be added to Facebook Dynamic Ads.
Introducing Facebook Dynamic Ads
Facebook’s Dynamic Advertisements can now be utilized to retarget individuals who look at an item on any site or application that gives Facebook a chance to track its users and additional individuals who like a pertinent Facebook Pages or associate with an important promotion on Facebook.
The change expands Facebook’s Dynamic Promotion design past essential retargeting. So what does this mean? If you sell flowers, in the past your ads were only seen by users on Facebook who looked at your site, or an advertiser’s site. Now, your ads will be seen by users who have looked at other advertiser’s sites, Facebook pages, or even websites that have forums where flower arrangements are discussed. Your product ads will be seen by any user who is browsing the web for similar products so even if they aren’t in the market to purchase them. This way they may end up purchasing a product that they didn’t think about purchasing before.
This also means that your ads will be seen by old customers but even better, they are going to get in front of new customers and competitors customers. This is Dynamic Ads strongest point, it really helps you capture your competitors customers and bring them into your business as your own. A great way to do this is offer a similar product as your competitor, frame the ad in a similar way, but offer it at a lower cost. At the same time, if you can do this so can your competitors however, staying ahead of your competition is nothing new on the internet.
Beating Out Your Competition
Okay so you can’t directly target your competition’s customers who purchase their products, browse their pages, like their Facebook, or download their app. Currently, there’s no way to know who those people are without an inside in.
However, Facebook’s ad-serving algorithm knows this information and wants to serve its user with products they like. The more similar you create your ads to look like your competitors, the more likely Facebook will put your ads in front of your competitors customers. So rest assure, it is extremely likely that someone who views products that are similar to yours, will see your ads on Facebook.
If you don’t want your competition to have this edge you can shut them down. Facebook Dynamic Ads allows you to opt out of using it by removing Facebook’s tracking pixels from your site or application and disabling Facebook’s ability to record application events through their mobile application. So no one can compete with you through Facebook Dynamic Ads yet at the same time you can’t use it against anyone else either .
Luckily if you opt out of this you can still retarget people who visit your website or app with Dynamic ads, the way it is now. You can still purchase ads through Facebook’s Power Editor ad-buying tool or through a third-party ad buying tools that use Facebook’s Ads API.
What Do You Need to Use Facebook’s Dynamic Ads
If you’re new to the Facebook advertising world and this sounds of interest, here is what you need to run Facebook’s Dynamic Ads:
- Facebook pixel: A piece of code for your website that lets you measure, optimize and build audiences for your advertising campaigns.
- Facebook Software Development Kit (SDK): Learn about installing the Facebook SDK in your mobile app.
- Business Manager: Creating a Business Manager is easy with these steps.
- Product catalog: A product catalog in Business Manager holds a file that contains a list of all the products you want to advertise.
Get Started Today
Companies like Wayfair have already started to use dynamic adverts and are finding great success. Companies have said that the new rollout is making ads a easier and more effective solution for bringing in new customers on a large scale.
If you need help getting started you can reach out to our team or Facebook’s for more information. Regardless of your current makreting efforts on Facebook, our team can help maximize advertising efforts and deliver the best possible return on investment. Contact us today – at 1-888-277-5429 or by filling out our contact form – to learn more about how implementing a Facebook Ad strategy can boost your conversions.
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