Evolution of Facebook for Business
Facebook has been around since 2004, and in 2007, the leading social media platform recorded with 10,000 business pages. Considering this, a new concept called Company Page was planned and pages began rolling out for business in May 2009.
Today, Facebook generates maximum revenue from advertisements, and as per BusinessWeek.com, “banner advertisements on Facebook have generally received one-fifth the number of clicks compared to those on the Web as a whole”.
“Facebook for Advertising” is gaining more and more popularity among sellers that it allows them an easy way to find new customers, as well as, built brand loyalty.
A report by Statista clearly explains how Facebook is generating maximum revenue from advertisement and is increasing at a faster rate in the most recent reported years.
Sellers dealing with multiple products, often find it difficult to manage promotion for each. This is where “Facebook for advertising” is helping multiple sellers to promote their products in the most effective ways. To know more about getting started with Facebook for advertisement, click here.
Facebook for Advertising- updates that seller needs to know
1- New product ads
Facebook announcing its new product ads, is a marketing solution designed to allow sellers promote different product categories or even their entire product catalogue across all touchpoints that a customer can use.
This innovative method of promotion will help Facebook business page users to create winning campaigns targeting special products to the special audience, or, let Facebook offer relevant products to the people.
Business owners and marketers are allowed to showcase their products in single or multiple product units.
The introduction of Multi-Product ads unit
Unlike single product ad unit, this feature will allow sellers to display three products with a single ad unit.
Sellers can add an individual image, description, and even click targets for each product allowing them to spread product visibility in an interesting way.
Build more nuanced audience
Facebook for advertisement is a step further for sellers, which allows them to target and build a relevant audience for their business.
This means Facebook business page users can easily target audience that matters the most for promotion.
Sellers who have adapted this feature are already gaining a marketing advantage, as it allows them to customize highly targeted segments for each product category depending on the previous customer’s history.
This new feature can be found in Ads Manager and Power Editor.
2- Updates on Lead ads
Facebook for Business allows sellers an opportunity to get more innovative with their lead ads. Marketers can adopt two new ways of presenting their lead ads:
a- Context card format
This is an optional tile that will pop up after some clicks on the lead ad before they get to the form. This can be used to offer engaging and informative content.
For instance: If your business uses lead ads to convert shoppers, a context card allows you offer details that can encourage people to take actions on-the-go. This feature can ensure high-quality results from your marketing campaigns.
b- Carousel format
This is a format that allows sellers an ability to offer three to five images and title before people click on the lead ad.
For instance: If your business uses lead ads to promote a new product line, a carousel format allows you to display multiple product images with a description for each. You can trigger content that displays more benefits about the product.
3- New features to video ads
A research by Facebook found that “when feed-based mobile video ads play loudly when people aren’t expecting it, 80% react negatively, both toward the platform and the advertiser.
a- Automated caption
Considering maximum Facebook usage over smartphones, this feature is added to allow sellers offer people the choice to opt in for the video sound.
Earlier marketers would have to embed their own caption files to their Facebook video ads. However, the new automated captioning tool will generate captions for marketer’s video ads and sent to them within the ad creation tool to review, edit, and use the best ones for their Facebook video ads.
b- More metrics to reporting feature
Videos being one of the most engaging content formats on Facebook, marketers are able to see the number of people who have viewed their videos with sound in Page Insights and can soon expect to view this metric in Ads Insights too.
Integrated with Moat for video ad analytics is part of the continued dedication to measuring Facebook ads with independent third party.
What do marketers need to know from the CEO of Moat about this integration
“We are proud to partner with Facebook. Facebook has always taken a lead in providing third party measurement solutions. By partnering with Moat, Facebook is giving advertisers the choice and certainty they want and need to make key decisions about their investment on Facebook.” – Jonah Goodhart, Co-Founder and CEO of Moat
Facebook for Business is helping business owners reach out more customers in less time. For instance, well-presented Facebook ads can bring in new customers, as well as, encourage old customers in the same post.
The best part, being known with the latest updates can help you understand how to use Facebook to your business’ benefit!