But for the most part, advertising still follows traditional methods of using social media rather than on web pages. This is why Facebook has been successful in running a great advertising campaign, and they have gone a step further with Dynamic Product Advertising. This represents a new era in online advertising.
So what is a Dynamic Advertisement?
Dynamic Advertising includes two things in one; an ad that lets you feature multiple products in one go and products that customers had previously viewed, added to a cart, or once purchased. It targets customers with relevant ads at every stage of the sales ladder. This is not a line out of a sci-fi story. It is real and Facebook calls it Dynamic Product Ads.
Automation has taken over manual work in every field and is doing it with more efficiency. Facebook’s Dynamic Product Ads is one such case of digital automation that delivers great performance in terms of relevance and timing. It is found to have higher click through rates compared to any other online advertising methods. Determining the intention of purchase had always been a dark area for Facebook, an area where Google had the upper hand. Now with Dynamic Product Ads Facebook is back in the game.
Google AdWords dominated the online advertising space because people always search google for things they want to buy and this helps AdWords serve up ads relevant to that. So it targets users who are already on the verge of buying, thereby increasing the chances of conversion. Facebook could not provide any such relevant data but only random ads to users viewing their news feed as it could not gather any data from the feed, making ads on Facebook less effective. Until now.
How it is going to affect your business:
Facebook’s platform offers its users ease of advertising and a massive increase in the return on investment without having to make many changes in your website or look for new web hosting options. Facebook’s advantage lies in its timing and how it can leverage its access to the link between users to actively promote relevant products. Dynamic advertising does not depend on keywords.
This makes sure to retain the scope of the original ad and circumvent the ordeal of having to scuffle with other advertisers for dominance in keywords. Dynamic advertising is interest based, so due importance to data mining will result in targeted and modular ads which would never be possible with traditional online advertising. Combined with the WooCommerce plugin, which offers a wide range of extensions and a beautiful theme store to customize your product landing page. You can run a profitable Ad campaign.
To begin with, a suitable catalog of products is generated and fed to the platform. It automatically chooses the suitable advertisements to display to appropriate individuals. Dynamic advertisements are not device biased. They can perform in any device be it a smartphone or a tablet using any Facebook application or browser.
Dynamic targeting of advertisements is a market proven strategy for driving huge traffic . So if you are a retailer with a large portfolio of products to market, you are going to find it difficult to manually design each page for each product to advertise them. It’s not very practical. Facebook’s Dynamic Product Ads helps you out by collecting the unique ID’s of products when they are viewed, from the catalog. Therefore, it can display ads that are related to this product to the user later on.
Dynamic ads require some technical know-how for setting up, probably the only reason AdWords are preferred. However, once the algorithms begin to grind, dynamic ads are sure to bring you much higher rates of return than any other advertisements in the market.
Dynamic Ads vs. Multi-Product Ads
Multi-Product ads were the first on scene. This is the reason why many agencies still remain unclear about the two. Let’s sort that out.
a) Multi-Product Ads
Multi-Product displays multiple products in one ad. They contain up to 10 images and even videos that customers can scroll through. The part where it gets confusing is that every image has a link to your landing page and catchy tags. This feature that it shares with Dynamic Product Ads is the reason why ad agencies confuse it with Dynamic Ads.
b) Dynamic Product Ads
Dynamic Product Ads are flexible. They can either show multiple products at once or showcase products relevant to customers in various stages of the sales funnel individually. The format it chooses then depends on your choice of Carousel format or the single image format you chose when building the ad in Ads Manager.
Dynamic Ad Requirements
Dynamic Ads has a frugal list of requirements making it more attractive:
- A Facebook Page for your brand.
- A Business Manager account.
- An ad account.
A digital product catalog. You can reuse the existing catalog that you already work with in other advertising services. The product catalog that we create must have columns for the product ID, name of the product, description in a short and attractive sentence, landing page URL, image URL where the image is uploaded and availability status as required fields.
To sum up, Dynamic Product Ads give you the following advantages:
- Promote many products uniquely without the burden of configuring each ad.
- One time setup. Allows reuse of existing catalogs.
- Right product to the Right people at the right time.
- Any device is a right device.
- Increase chances of purchase by showing only what people are interested.
- Modifies itself according to the stage of the sales funnel the customer is in right now.
I hope these are reasons enough to get you started on a new fruitful endeavour with Dynamic Ads and reap the benefits.