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Changes to Facebook You Need To Know About
Despite Facebook’s significant scandal making headlines in early 2018, the company itself has not stopped growing even with the threat of data breaches. In fact, according to Facebook’s 2018 Fourth Quarter earnings report, the platform saw a 9% increase of daily (DAU) and monthly (MAU) active users, bringing the new average DAUs to 1.52 billion and MAUs to 2.32 billion this past year. Facebook is far from dead and buried, and they continue to churn out new updates and changes to the site that we in the marketing and advertising world need to stay on top of. Here’s a list of some of the major updates you need to know about for 2019:
Augmented Reality Ads
One of the cooler updates Facebook had been testing in 2018 is augmented reality ads. These types of ads will allow users to virtually “try on” products from their device. The first to take this technology for a test run was Michael Kors with their virtual sunglasses augmented reality advertising campaign. This type of ad is poised to be the next big thing in advertising.
Facebook Stories Ads
The new Facebook Stories ads have all of the same features we love about Instagram Stories ads: reach, brand awareness, video views, app install, conversion, traffic, lead generation, etc. While Facebook Stories hasn’t caught on as quickly as Instagram Stories, the ability to share your stories on Instagram cross-platform with Facebook should help give them the push they need.
Targeting this generation of gamers, Facebook is rolling out a new way to advertise using playable ads. The ad works like the game would if you were to download it on your phone, allowing users to actually play the game through the ad to try it out before installing the app. This update adds a whole new meaning to “interactive ads”.
Value-Based Lookalike Audiences
Facebook wants you to tell them the value of each customer in terms of your business, then uses that information to create a Lookalike Audience that is most aligned with your designated higher value customers. By identifying and marketing to people most likely to generate higher business value, businesses can increase their return on ad spend and maximize impact over time.
Campaign Budget Optimization
Campaign budget optimization will help to distribute a campaign budget across a campaign’s ad sets. Facebook will automatically and repeatedly find the best opportunities to achieve results across ad sets.
MEASUREMENT & ANALYTICS
The recently introduced Facebook Attribution, was released for all advertisers across the platform. Facebook says it was designed to give marketers a more holistic view of the customer journey, both on and off Facebook. They say “using the new data-driven attribution model, you can see how your ads on Facebook, Instagram, Audience Network and Messenger are contributing to incremental business results compared to if you were not running ads. And to gain a better understanding of your audience’s digital journey, you can use cross-device reporting to learn the device your customers engaged with your ads on as well as where they converted.”
Video Creation Kit
Facebook’s Video Creation Kit allows users to create mobile video ads using your existing photo assets, text overlays, and logos. They even offer templates based on what you’d like to accomplish with your ad, that are totally customizable.