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The Dynamic ad gets a new placement on Facebook Marketplace. This may give online retailers one of their most actionable touchpoints yet.
Traditionally, there has always been a split between advertising and buying. One decade ago, would-be customers saw ads on television. There was a physical barrier between seeing a product and taking action. In recent years, we have grown accustomed to online ads that direct us to a specific action like visiting an online store or signing up to a mailing list. Most ads even leverage user data to deliver tailored messages and images. Still, no matter how actionable these ads look, there is a disconnect between buying intent and the advertiser’s messaging–especially on social media platforms. Here, users are busy talking to friends or browsing websites, not looking to make a purchase. Facebook Marketplace, however, assumes users are looking to buy. And that should make all the difference.
This mindset is likely what led to a reported 77% growth in buying and selling pushed by Marketplace. By serving up smart ads, retailers can fulfill a present, defined need in their audience. That means greater ROAS and ROI.
Facebook Marketplace launched in 2016 as a simple digital classified ad space like Craigslist. That means consumers, Facebook friends and town locals could list their old stuff for sale. Classified listings traditionally include anything from sofas, clothes and books to certain services.
Until recently, however, paid ads have not been allowed on Facebook Marketplace, meaning businesses could not get close to users searching on the platform. Now, Facebook is giving businesses the option to push Dynamic ads to the Marketplace as a new placement. Best of all–pushing your Facebook ads here is easy.
This isn’t just a cool opportunity for locals to promote their posts. It’s a big chance for brands and retailers. It’s a new touchpoint that, best of all, is easily accessed through Dynamic ads.
Marketers are already using Dynamic Ads in the Facebook feed and along the social network’s right column. Dynamic ads leverage a marketer’s product catalog to automatically generate and deliver ads to the best audience across Facebook, Instagram and the Audience Network.
There is also rumor that Facebook’s Marketplace plans to support way more than just physical products like phones and video games. In some locations, the site already has job listings and eBay’s Daily Deals. Ticket sellers, employers, travel agencies and other advertisers will hopefully be using Marketplace ads very soon.
Not all of the products listed on Facebook Marketplace are high quality. Scams, illegal sales and bad listings are part of any marketplace. However, it is likely that the healthy number of retailers getting involved will actually make the channel stronger and more successful. This should mean an increasing number of opportunities for brands on Marketplace in the future. As Facebook VP who is in charge of Marketplace, described it:
“If people are searching or looking for something, we want to make that available to them.”
Brands big and small know how to cater to customers and deliver good products. Think of this way: brands provide reliable availability. If someone is looking for a used car, a Marketplace ad from a local auto dealer will be very well received.*
|*Automotive businesses are also actually of the groups already winning big with Marketplace. Facebook has now integrated several vehicle-specific categories and inventory listings from popular dealers due to their success.|
Now, the fun part.
Facebook Marketplace is already live in 58 countries, but the possibility to advertise is currently only available within the US. Also as of now, there is no set timetable for expansion, so those outside the states will have to wait. Luckily, for those in the US, the process of creating Dynamic ads for Marketplace is simple. You are going to need your product data catalog, so make sure your data is uploaded, in tip-top shape and configured for Facebook Dynamic ads.
Be sure you provide product data that is complete, error-free and meets all the required specifications. Overlong titles, incorrect prices or price formats, broken URLs and other errors can lead to poor returns by shoppers or rejection by Facebook. Being careful with product data is the only way to be sure your product ends up in front of users–and turning raw product data into emotional, compelling messages is the only way to inspire them to click and convert.
Before you get started with dynamic ads on Marketplace, clarify your expectations and approach. Not every product or brand will thrive in this channel, and users in Marketplace will behave differently than regular social media pages. Marketplace is meant to be an extension of your dynamic ad campaigns, taking products beyond the News Feed and to a new touchpoint. Define what constitutes success in Marketplace for you. Once you have your expectations in order, move on to the technical steps.
A few very important notes:
Image specs are the same as those for News Feed ads.
Whether you are just getting started with Facebook dynamic ads or looking to expand your already incredible wealth of digital messaging, you will need to make sure your product data is ready for the job. Especially for brands and retailers with large product data feeds, complex needs or multi-channel marketing efforts, Productsup is here to help you optimize data for your favorite channels easily.
For a deeper dive into Facebook Dynamic Ad campaigns, check out our complete guide:
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