Until someone proves to me otherwise, I will always contend that, outside of paid search, remarketing is one of the most effective digital marketing tactics there is. Dynamic remarketing — showing consumers tailored ads based on the products and/or services they’ve previously viewed on an advertiser’s website — has been available through Google AdWords & third-party ad servers for some time. However, remarketing through social media in this fashion has, until now, been an entirely manual process.
With Facebook Product Ads, announced by the company on their blog today, advertisers (and their agencies) will be able to cut-out much of the manual guesswork that has previously gone into setting up product remarketing by interest category — which, in my own experience, has often led to wasted time & ad dollars while testing the right combination of each.
Facebook Product ads may be ideal for remarketing purposes (as a FB spokesperson confirmed to TechCrunch earlier today), as the social network has infinitely more data on its users than any single advertiser would. However valuable they may prove to be with remarketing efforts, I could certainly see using FB’s rich data for more refined prospecting campaigns as well.
According to Marketing Land, Facebook Product Ads will also work with the company’s less-utilized multi-product ads (shown below), to give advertisers the benefit of showing off more than one products at a time, without creating numerous ads.
Facebook Product Ads are available immediately via their API; the company plans to roll these out to Power Editor over the coming weeks.