Facebook Dynamic Ads Breakdown
The Facebook platform is an excellent tool for advertisers and marketers alike. The constant flow of upgraded features and services help advertisers make the most of their ad budgets. The latest feature that's got everyone talking is Facebook dynamic ads.
What are Facebook dynamic ads?
The power of dynamic ads on Facebook is the ability to automatically craft the perfect ad for the right person. It works using data recorded from the Facebook Pixel to analyze the behavior of visitors and what they interact with on your website. It then matches other users with similar profiles and curates personalized ads gathered from that info.
How to create a dynamic ad on Facebook
Here are the four simple requirements needed to get your dynamic ads up and running on the Facebook platform:
- Event Tracking - The first step begins with assigning events that the Pixel will monitor and collect data from to create dynamic ads on Facebook. This can include typical events (view content, add to cart, checkout, purchase, etc) or custom ones depending on your needs.
2. Product Feed – Next, you’ll need to list all your products in a specific file format with key details (price, availability, link, etc). This information will be used to supply your product catalog. A third-party provider is recommended to make this process simpler.
3. Product Catalog – To create your catalog, head over to the “Catalog Manager” in the business manager section and select “E-commerce.” You’ll be able to add products with the “Use Data Feeds” feature that updates your listings on a scheduled basis if your inventory regularly changes.
4. Launch Dynamic Ad – For the final step, select “Catalog Sales” as a campaign objective in the Ads Manager. Then, create a product set at the ad set level, which will be used to display products throughout your campaign.
Once in audience selection, select “Define a broad audience” and let Facebook optimize who sees your products to reach a new audience. On the other hand, if your goal is to target previous visitors, choose “Use info from your Pixel’ or app to create a retargeting audience.
Be sure to explore the ‘Show Advanced Options’ menu where you’ll be able to refine your audience targeting, optimize for event type, ad format, etc. Voilà! – now, you’re ready to launch your Facebook dynamic product ads campaign.
Traditional retargeting ads vs Dynamic ads on Facebook
Before the advent of dynamic product ads, advertisers had to manually craft ad campaigns with the ‘Custom Audiences Tool’ for each product and match them to the targeted audience. Not to mention tracking events along the marketing funnel (add to cart, checkout, etc). This becomes exceedingly tedious and impractical especially if you have a large or constantly changing inventory to manage.
Final takeaway
Dynamic ads on Facebook are a powerful tool for retargeting an existing customer base or engaging a new one all at once. With just a few clicks, you’ll be able to view the significant impacts it’ll make in your product ads campaign as a Chip seller. Go ahead and give it a try today.
Want to learn how to get the most out of Facebook? Check out our other blogs in this series: