In February, Facebook announced dynamic Product Ads aimed at helping marketers increase conversions and lower cost per acquisition across devices. As reported earlier, these ads are now available in the Audience Network, Facebook's mobile ad network, which lets mobile apps monetize through Facebook’s advertisers.
That's not the only thing new for the ads. The company also announced cross-selling functionality and conversion optimization features to come in the next few weeks.
"Advertisers have always been able to use dynamic product ads to show related products to people who have viewed an item or added it to their cart, and soon advertisers will be able to use dynamic product ads to show related products to people who have purchased an item too," Facebook says. "So if someone purchases a bike on your website, you can start showing them product ads featuring complementary items, like bike helmets and baskets, since they may be interested in those products too."
"Additionally, advertisers will have more flexibility in defining related items," it adds. "Let's say someone added a pair of designer shoes to their cart in your mobile app. You may choose to show them ads featuring products from your designer shoe category, plus items from the designer handbag category. It's up to you how you define your product categories, and this update gives you more control."
Advertisers will also be able to optimize the ads for conversions in that Facebook's ad delivery system will find those most likely to purchase. The company says in early testing conversion optimization for the ads delivered more efficient spend than CPC.
On top of all of this, advertisers will be able to reach shoppers off of Facebook through the Audience Network, which will show ads in third-party mobile apps.
You can read this for comments from eBay and JUNIQE about the success they've had.
Image via Facebook