In 2018, Facebook’s founder and CEO Mark Zuckerberg announced that they would further reduce the organic reach of branded content published on Facebook Pages.
The news received mixed reactions. Facebook users were happy because it means they’ll see more posts from their friends and family. Businesses using Facebook for social media marketing, however, found it appalling.
The Slow (and Painful) Death of Facebook Page Organic Reach
Organic traffic received by Facebook Pages has been declining in recent years. In 2017 alone, brands observed a 20% drop in organic reach and engagement on their Facebook Pages compared to the year before. After Zuckerberg’s announcement, the rate of organic reach decline spiked to 34%!
As a result, brands have to spend more on paid advertising to get the same results they use to enjoy. A study done by Salesforce predicts that 66% of a brand’s advertising budget will go to paid ads on Facebook as well as Google Search, YouTube, and Instagram.
Still, Facebook remains the dominant platform for marketers promoting their businesses, products, and services online. According to Buffer’s 2018 State of Social Media survey, 96% of them said they continue to use Facebook for their social media campaigns.
This is quite interesting, especially when you take into account that half of them experienced a decline in Facebook organic reach last year.
Why Marketers Still Love Facebook
One reason why marketers can’t let go of Facebook is that it’s got the largest user base among all the different social media channels. With over 2 billion users worldwide (and counting), marketers are confident that they’ll find their target audience here.
Second is the array of marketing tools and ad formats brands can use to increase their reach and conversion rates. The most recent of these is Facebook Dynamic Ads.
What Are Facebook Dynamic Ads?
As its name implies, Facebook Dynamic Ads (DPA) are dynamic ad formats.
Launched in 2015, these allow brands to promote their entire product catalog to their target audience and retarget them to increase conversion rates.
Benefits of Using Facebook Dynamic Product Ads
1.) They Are Significant Time-Savers
Back in the day, running Facebook ads took a lot of time and effort. You’d need to create a separate ad for each of your products or services, get this approved, and allocate a specific budget for it.
With Facebook Dynamic Product Ads, you no longer have to do this. Instead of creating separate ads for each of their products and services, social media marketers only have to create one dynamic template.
Once you finish creating this, you can configure your product listings for each of your audience segments. Alternatively, you can give Facebook the reins and automatically put the most relevant ads in front of your target audience.
2.) Deliver Personalized Ads to Your Target Audience
Facebook Dynamic Ads integrate with the platform’s Website Custom Audience pixel (WCA). This allows you to provide Facebook with more details information about your ideal customer. It also means that you’re able to create ads that potential buyers find relevant. In turn, you increase the chances of viewers converting into leads and customers.
You can even personalize your offers with overlays to make special offers like promos and discounts to stand out.
Since you can upload CSV files when creating dynamic ads, you can upload your email list here. This feature not only allows you to target segments of your email list but also retarget those that didn’t complete their purchase.
3.) Remove Out–of–Stock Products and Expired Promos in Real Time
The beauty of Facebook Dynamic Ads is that its algorithm does not display expired promotion ads or out-of-stock products.
Nothing can be more disappointing for a potential customer than finding out that the product or service that caught their attention is no longer available. It’s equally frustrating for marketers because this means revenue loss that can quickly compound in a short period.
4.) Easily Viewed on Any Device
Research shows that the majority of your customers use their mobile devices to find and research products and services.
Facebook Dynamic Product Ads are easy to view and interact with on mobile devices. As a result, your customers will engage more and become more likely to convert.
That was the case with Target. According to Target’s Senior VP, Kristi Argyilan, Facebook Dynamic Product Ads’ mobility contributed to them receiving 20% more conversions compared to other types of Facebook ads.
Are Facebook Dynamic Product Ads Just for B2C?
Despite its user base, many B2B marketers have placed Facebook in the backseat when marketing their products and services.
B2B marketers have regarded LinkedIn as their top social media platform, and for good reason: LinkedIn’s users are predominantly companies and the executives that make all the critical decisions.
To increase your chances of converting them to customers, you’ll need to be able to reach those capable of making that decision.
That’s all changing.
According to Social Media Examiner’s 2018 industry report, 91% of B2B marketers now consider Facebook as the number one social media channel for their marketing campaigns. In contrast, only 79% of B2B marketers say the same for LinkedIn.
These findings are ground-breaking because it means that B2B marketers are now finding more of their potential and existing customers on Facebook.
If you want to boost your conversion rates, you need to market your products and services on channels where your customers spend their time. If your target market is on Facebook, you should be there as well.
Facebook Dynamic Ads were initially designed to promote products and services to individual customers. However, with a bit of creativity, B2B marketers can leverage this ad format to increase conversion rates.
Tips to Use Facebook Dynamic Ads
1.) Set Specific Goals
Although Facebook Dynamic Ads can be used to help you generate leads and revenue, it’s best to choose only one. That way, you can streamline not just what you’ll include in your ads but also how you’ll work them.
Focusing on a specific goal will also make it easier for you to track and monitor your ads once they go live.
When setting your goal, make sure it aligns with your company’s overall business objectives. That way, you can gauge if they are helping you make progress.
2.) Review Your Buyer Persona
Your buyer persona will help you design your ads to ensure they not only capture your target audience’s attention but get them to interact and even convert.
Be as detailed as possible when providing details about your buyer persona. The more information you give Facebook, the higher the chances of your dynamic ads reach the prospects you’re targeting. Hence the higher the chances of converting.
3.) Use Videos in Your Dynamic Ads
Video is now quickly becoming the most preferred content format, especially when it comes to learning about new products and services. A study done by Hubspot shows that 54% of people prefer branded video content over other content formats.
Adding videos to your Facebook Ads also gives you the opportunity to provide more information to your target audience. In effect, you’re nurturing them with valuable information that can influence their buying decision that’s favorable to you.
4.) Turn on Your Facebook Dynamic Ads Creative Feature
The Dynamic Creative feature works as an automatic A/B split tester that helps you decide the best ad combinations to present to your customers based on your goals.
It will mix and match different elements on your ads like the images, titles, descriptions, and calls-to-action at random based on the details you’ve provided about your target audience to find the best fit.
One important thing to remember about Facebook’s Dynamic Creative feature is that it can allow you to generate 30 different variations, so it shouldn’t be used as a replacement for (or an excuse not to do) manual A/B testing.
5.) Continue the Experience on Your Website
Your ads’ ability to convert all depends on your website. Make sure your site and its content meet their expectations.
Start with checking your website’s loading speed. A slow-loading site is one of the primary reasons why customers abandon the buying process.
Keep your website’s loading speed under 3 seconds. Any slower and your customers will go somewhere else.
Second, continue providing them with a dynamic and engaging experience on your site.
For example, your offering a guidebook or brochure in your ad, don’t just give them another dull and static PDF file. Use an online brochure maker like Flipsnack to create an interactive online brochure that they not only can download but also share with others.
Finally, streamline your checkout process so that they can complete it quickly. Having too many steps in your checkout process will annoy and frustrate your potential customers, resulting in cart abandonment.
Facebook Dynamic Product Ads are powerful in generating leads and sales conversion. This lies in their ability to display relevant ads to the right people while they’re on Facebook.
At the same time, they are incredibly versatile in that they can be used by both B2C and B2B marketers to promote their products and services.
The real power of this type of Facebook ad lies in you.
As a B2B marketer, you’ll need to plan and strategize your ad campaign carefully. Make sure that you’re clear about the goals you want to achieve and which target audience you want to reach. Diversify the content by experimenting with images and video as well as different variations of your ads and see which are the ones that resonate most with your target market.
Above all, remember that ads—whether they’re social media ads or paid search ads on Google—will only get your customers to your website. You and your team need to make sure that your site quickly loads, provides high-quality offers and content, and has a seamless checkout process.
When you put all of this together, it can be a potent mix that will help your B2B business increase lead and customer conversion rates.