In 2018, Facebook’s founder and CEO Mark Zuckerberg announced that the company would further reduce the organic reach of branded content published on Facebook Pages.
The news received mixed reactions. Facebook users were happy because it means they’ll see more posts from their friends and family. Businesses using Facebook for social-media marketing, however, found it appalling.
The Slow (and painful) death of Facebook page organic reach
Organic traffic received by Facebook Pages has been declining in recent years. In 2017 alone, brands observed a 20% drop in organic reach and engagement on their Facebook Pages compared to the year before. After Zuckerberg’s announcement, the rate of organic reach decline spiked to 34%!
As a result, brands have to spend more on paid advertising to get the same results they use to enjoy. A study done by Salesforce predicts that 66% of a brand’s advertising budget will go to paid ads on Facebook as well as Google Search, YouTube, and Instagram.
Still, Facebook remains the dominant platform for marketers promoting their businesses, products, and services online. According to Buffer’s 2018 State of Social Media survey, 96% of them said they continue to use Facebook for their social media campaigns.
This is quite interesting, especially when you take into account that half of them experienced a decline in Facebook organic reach last year.
Why marketers still love Facebook
One reason why marketers can’t let go of Facebook is that it’s got the largest user base among all the different social media channels. With over 2 billion users worldwide (and counting), marketers are confident that they’ll find their target audience here.
Second is the array of marketing tools and ad formats brands can use to increase their reach and conversion rates. The most recent of these is Facebook Dynamic Ads.
What are Facebook Dynamic Ads?
As its name implies, Facebook Dynamic Ads (DPA) are dynamic ad formats.
Launched in 2015, these allow brands to promote their entire product catalog to their target audience and retarget them to increase conversion rates.
Benefits of Facebook Dynamic Ads
They are time savers.
Back in the day, running Facebook ads took a lot of time and effort. You’d need to create a separate ad for each of your products or services, get this approved, and allocate a specific budget for it.
With Facebook Dynamic Product Ads, you no longer have to do this. Instead of creating separate ads for each of their products and services, social media marketers only have to create one dynamic template.
Once you finish creating this, you can configure your product listings for each of your audience segments. Alternatively, you can give Facebook the reins and automatically put the most relevant ads in front of your target audience.
Dynamic Ads personalize ads to your target audience.
Facebook Dynamic Ads integrate with the platform’s Website Custom Audience pixel (WCA). This allows you to provide Facebook with more details information about your ideal customer. It also means that you’re able to create ads that potential buyers find relevant. In turn, you increase the chances of viewers converting into leads and customers.
You can even personalize your offers with overlays to make special offers like promos and discounts to stand out.
Since you can upload CSV files when creating dynamic ads, you can upload your email list here. This feature not only allows you to target segments of your email list but also retarget those that didn’t complete their purchase.
Dynamic Ads remove out–of–stock products and expired promos in real time.
The beauty of Facebook Dynamic Ads is that its algorithm does not display expired promotion ads or out-of-stock products.
Nothing can be more disappointing for a potential customer than finding out that the product or service that caught their attention is no longer available. It’s equally frustrating for marketers because this means revenue loss that can quickly compound in a short period.
They’re viewable on any device.
Research shows that the majority of your customers use their mobile devices to find and research products and services.
Facebook Dynamic Product Ads are easy to view and interact with on mobile devices. As a result, your customers will engage more and become more likely to convert.
That was the case with Target. According to Target’s Senior VP, Kristi Argyilan, Facebook Dynamic Product Ads’ mobility contributed to them receiving 20% more conversions compared to other types of Facebook ads.
Are Facebook Dynamic Product Ads only for B2C?
Despite its user base, many B2B marketers have placed Facebook in the backseat when marketing their products and services.
The reason?
B2B marketers have regarded LinkedIn as their top social media platform, and for good reason: LinkedIn’s users are predominantly companies and the executives that make all the critical decisions.
To increase your chances of converting them to customers, you’ll need to be able to reach those capable of making that decision.
That’s all changing.
According to Social Media Examiner’s 2018 industry report, 91% of B2B marketers now consider Facebook as the number one social media channel for their marketing campaigns. In contrast, only 79% of B2B marketers say the same for LinkedIn.
These findings are ground-breaking because it means that B2B marketers are now finding more of their potential and existing customers on Facebook.
If you want to boost your conversion rates, you need to market your products and services on channels where your customers spend their time. If your target market is on Facebook, you should be there as well.
Facebook Dynamic Ads were initially designed to promote products and services to individual customers. However, with a bit of creativity, B2B marketers can leverage this ad format to increase conversion rates.
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