Facebook News! 4 Updates for Marketers to Know

Facebook news 4 updates for marketers to know

It seems like we’ve been hearing this forever – and no matter where you fall on their love/hate spectrum – the truth is that Facebook is still the king of the social media jungle. With over 2.5 billion monthly active Facebook users worldwide, there’s just no denying its power and ability to reach any type of person for any type of product.

 

So if you’re using Facebook advertising in your app marketing media mix, we get it. And if you’re not, it’s definitely something you should consider. 

 

But making Facebook marketing efforts effective requires proper use of the platform – like following a solid Facebook ads creative process to produce top-performing creatives –  and staying on top of their changing policies, features and best practices.

 

It just so happens that Facebook has more news! Let’s take a look and see what’s new and how this impacts advertisers.

 

1. Facebook’s Campaign Budget Optimization (CBO) feature won’t be mandatory

 

The CBO feature allows Facebook’s algorithm to optimize budget allocation automatically across all of a  campaign’s ad sets. While this seems – and can very well be – a good thing, many advertisers were upset about not having the option to control budgets at the ad set level for testing to see which ad sets perform better. By setting the same budget per ad set you’re able to compare them objectively.

Why does this matter?

 

Simply put, this change gives advertisers a choice. Campaign Budget Optimization is still there and can be used to its full potential to those who experience its benefit. But now, instead of a mandate, it’s an optional feature. If you’re not sure what works best for your product, now you have the option to test it out and see for yourself!

 

2. Incremental Conversion Optimization as a new potential Facebook feature

 

Incremental conversions are installs that happen as a direct result of your campaign, i.e. your marketing spend. The reason that this is such a valuable piece of information is that we often don’t know how many installs occurred organically versus installs that came about from our marketing efforts.

 

Facebook has had conversion lift measurement capabilities for a long time, but they’ve never been offered as an optimized feature. Facebook explains how its conversion lift process works:

 

  • When creating a Facebook campaign, a randomized test group (people that see ads) and control group (people that don’t) are established
  • The advertiser securely shares conversion data from the campaign with Facebook. Typically, this data comes from sources like the Facebook Custom Audiences pixel, conversion pixel or secure point-of-sale (POS) data.
  • Facebook determines additional lift generated from the campaign by comparing conversions in the test and control groups
  • The results of the study are made available in Ads Manager

 

Why does this matter?

 

Optimization makes life easier. Especially for e-commerce products, knowing the conversion lift is of special interest. The focus shouldn’t be only on clicks and views but on actual conversion metrics – like a purchase. 

 

3. Facebook Ads Library adds new features

 

In order to increase transparency, Facebook added the Ad Library in 2018. It’s completely searchable for free by anyone. It includes active and inactive ad campaigns that are running or have run across all Facebook audience networks. It’s searchable by a specific advertiser or page and gives detailed information like when the ad was created, admin country location, and an “About Page” description.

 

And it looks like the Facebook Ad Library will be rolling out more features:

 

  • Adding “potential reach” which provides an estimate of the audience size that is eligible to see a specific ad
  • Starting to group similar ads together, which means less scrolling to find what you’re looking for
  • Offering more filters, like the ability to search by an Instagram handle

 

Why does this matter?

 

In a nutshell, getting information on what your competition is doing is getting easier! As far as knowing a specific competitor’s Facebook and Instagram messaging, creative, active campaigns, etc. there’s no more useful free platform out there. Any change that provides more ad details or makes the library more user-friendly is an advantage to all marketers.

 

Speaking of spying on the competition, keep this resource in mind as you’re developing your app’s Facebook ad creatives. When you’re brainstorming ideas for your particular buyer personas, research competitive ads for inspiration. Don’t be a copy cat, but analyze their messaging, format and layout style to see what resonates well for your product and use it as a springboard for your own creative development.

 

4. Facebook launches video templates to help businesses promote contactless services offerings during COVID-19 crisis

 

One thing is for sure about Facebook – they stay ahead of the curve and release features in a timely, relevant manner. Many companies are struggling during the current coronavirus pandemic, and Facebook is offering support to help advertisers promote relevant services to the public.

 

Why does this matter?

 

Video ads are an effective way to promote gift cards, safe delivery and other services that abide by the current social distancing parameters, and this new feature could be a welcome one for many. Providing such a turn-key solution allows even the smallest advertiser to create stand-out ads and help them keep their businesses running during the COVID-19 crisis.

 

Facebook Advertising Wrap-Up

 

To wrap things up, Facebook is a force to be reckoned with – like it or not. Changes and updates – like the ones mentioned above about CBO, a potential new incremental conversion optimization feature and updates to the Ad Library – are taking place all the time. 

 

In order to stay ahead and make your app growth marketing efforts successful, it’s crucial that you stay on top of trends and embrace every marketing asset that you can use to your benefit. Remember that AGN is always here to help with app marketing needs, so don’t be shy about reaching out.

 

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