Facebook Dynamic Product Advertising: What is it and will it work for you?

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When it comes to planning your marketing strategy, it can be difficult to know where to place your spend in order to get the best return on investment.

A recent report by media agency Magna predicts that half of all advertising spend worldwide will be in online channels by 2020, matching the ad spend in traditional offline mediums.

So why the shift?

Apart from being highly trackable, and therefore easier to justify repeat and increased ad spend, online advertising is also highly customisable.

The ability to personalise advertising campaigns and engage with customers at an individual level gives online advertising the edge over traditional offline channels.

What is Facebook Dynamic Product Advertising?

This development from Facebook is changing the way that businesses are able to target their existing and potential customers with personalised campaigns.

Dynamic Product Advertising allows you to serve ads to your customers featuring the products that they will be most likely to engage with.

Generated using the powerful Facebook Pixel, Dynamic Product Ads utilise behavioural information from your website visitors to determine which products should be featured in your Facebook ads.

This retargeting process is a highly effective way of converting passive browsers into customers.

With recent information suggesting site visitors that are served retargeting ads are 70% more likely to convert, it’s certainly worth testing.

How does a Facebook Dynamic Product Ad work?

Once the Facebook Pixel picks up browsing information from your customers, it generates a single or multiple product Facebook advert featuring the items that your customers are interested in.

Users are tracked by their real identity across devices, rather than anonymous cookies, making the adverts more accurate.

Dynamic product ads take full advantage of identity targeting, allowing advertisers to produce automated personalised ads.

The Dynamic Product Ads can be targeted to respond to different types of customer behaviours including:

Non-buying Browsers

Encourage customers to go back to a product they’ve looked at previously by serving them an advert featuring the same item

Basket Abandoners

Works in a similar way to an abandon basket email campaign by showing customers products that they’ve previously added to bag but not purchased

Product Purchasers

Turn your shoppers into repeat spenders by featuring upsells, new arrivals and items related to their previous purchases on your site

New Prospects

Show product sets to lookalike audiences, based on data from previous purchasers.

The products featured in these adverts are entirely influenced by what your customers have already viewed, abandoned or purchased previously, making Dynamic Product Adverts a highly personalised way of engaging with your existing and potential customers.

Are Facebook Dynamic Product Ads compatible with Magento?

Yes – you can run Dynamic Facebook Ads by implementing the Facebook Pixel on your shopping cart and integrating your product feed with the platform.

Get in touch with Cohesion Digital today to enable Dynamic Facebook Advertising on your Magento site.

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