The numero uno social networking site is giving the numero uno search engine a run for its money. Case in point is the latest launch of Facebook "Product Ads" which will compete directly with Google "Product Listing Ads". The Facebook Product Ads was created specifically to help businesses sell their products on the platform.
With this new feature from Facebook, advertisers can now target people who visited their website or app courtesy of Custom Audiences. They can also target people based on their interests or location. Businesses can promote single product or their entire line of products catalogue across the desktop and mobile platform as single or multi-product ad units.
There are various ways in which advertisers can deploy ads like manually uploading their product catalogs or create campaigns that target a specific audience with certain products. Alternately, they may use the Facebook Custom Audience so as to automatically deliver the most relevant products to the target group.
Brands that have already used the new ad feature from Facebook are quite excited about the benefits that it offers. Retail giant Target has recorded 20 percent rise in conversions with Product Ads over other Facebook ads. With this new feature Facebook is slowly but surely making the transition towards becoming a publisher too as opposed to merely being a social network.
Content is a big part of Facebook's offerings going forward as it tries to create 'full-funnel' media experiences. The social media behemoth would like to convert content into community and community into commerce.
Let us know what you think about the Facebook Product Ads.
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