Improving Ad Performance and Personalization
Meta, formerly known as Facebook, has become one of the most influential platforms globally, with more than 3.8 billion people visiting every month, including users of WhatsApp. That means one out of every two people on the planet is on the platform. At the exclusive Newfronts Webinar, Meta discussed several new features and enhancements that will help businesses to improve their advertising campaigns and better engage with their audiences.
Video Continues to Dominate
Meta revealed that over 50% of time spent on Facebook and Instagram is dedicated to watching videos. Additionally, Reels, a feature similar to TikTok, has more than doubled its user base compared to last year and is expected to continue to grow. Meta’s Reels Ads have been shown to drive ad recall and engagement, further enhancing the platform’s capabilities. To capitalize on this trend, Meta is introducing three new Reels ad products designed specifically for businesses. The features include AR ads for Facebook and Instagram Reels, testing multi-destination product ads for Reels, and bringing the “watch and browse” ad feature from Facebook to Instagram. AR ads will let users visualize products in real life, while multi-destination product ads for Reels will allow users to swipe through product images and click out to different links. Lastly, the “watch and browse” ad feature will enable users to preview the website or app they would visit if they clicked the link.
Diving further into the possibilities within the platform, Meta Moment Maker was introduced as a tool that maximizes reach in a 3-day flight and utilizes all of Meta’s video services. By using this tool, businesses can create content that entertains and engages their audiences while optimizing ad spend.
Improving Performance With AI
Meta is leveraging machine learning and AI to create a transformative platform for advertisers. The Meta Advantage, as it’s called, will enable advertisers to test and optimize campaigns faster and more efficiently. It will also help businesses to acquire and grow their customer base by surfacing relevant content, improving ads ranking, and driving efficiency.
Meta’s Advantage+ Shopping is a feature launched last year that enables businesses to upload product catalogs, promote products to relevant users, and drive more conversions. It uses machine learning to personalize content and advertising and provides early registration access to Instagram’s creator marketplace. Overall, it’s a powerful tool for businesses to increase online sales and expand their reach. The feature has led to a +20% increase in YoY conversions for Q4 2022.
Personalization is Key
According to Ipsos, Instagram is the top place where people follow creators. Meta offers a more personalized experience than any other platform, with businesses having access to personalized content for their audiences. Furthermore, Meta’s Creator Marketplace allows businesses to connect with influencers and creators to create sponsored posts, reach more people, and drive engagement.
The combination of all these intuitive ad-delivery features have consistently driven positive results within the campaigns of advertisers. On average, each ad dollar spent with Meta drives $3.31 in revenue for advertisers.
Til Next Year
Interactive Advertising Bureau 2023 Newfronts featuring Meta highlighted the platform’s continued dominance in the social media space. With more than 3.8 billion monthly users, businesses have a massive audience to target. The platform’s emphasis on video and personalization, along with its innovative tools and AI capabilities, make it an excellent platform for businesses looking to improve their advertising campaigns. Here at Net Conversion we like to stay on the forefront of the digital marketing landscape, and it is evident that Meta will be right there with us.
Logan Didier, Marketing Intern