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The average adult is said to make about 612 decisions a day all before lunch (that doesn’t include what to have for lunch), and Facebook is adding a few more! As the social company moves to slowly roll out new Product Ads to the masses, this ad unit has the potential to be a game-changer for the vast majority of brands today and not just the retailer/ecommerce giants of the world.
Performance at scale has been a challenge for brands advertising on Facebook; while some have cleared this hurdle, others have struggled with establishing a firm and consistent revenue stream with the largest social platform. So what do you do when you find yourself with a stale recipe? You simply add more ingredients.
The possibilities for this type of promotion are endless. Sure, any retailer will utilize it to promote a variety of products, but let’s take that a step further. A writer can showcase multiple blogs that appeal to several types of audiences; a landscaping company has the ability to promote different styles; again, all appealing to a much larger audience in comparison to a solitary image ad.
Perhaps you are a sports apparel company already utilizing the Website Custom Audience retargeting feature; imagine having the capacity to cross-sell items within a single ad unit. As an example, a user visits the soccer category page. The multi-product ad unit could prompt the user to add apparel, equipment, and perhaps lessons within the same session, leading to incremental revenue and providing an additional layer of efficiency to media buying.
So where do you start? What should you promote/cross-promote? Start by examining your best-selling products – and their audiences. There are several use cases for this new feature; the challenge will be applying a methodical approach and testing in a controlled manner to really understand what resonates with your audience and strategically apply that to current and future initiatives. It’s a bit like being a kid in a candy store – start with your favorites and then branch out from there
Like Baskin-Robbins and 21 Flavors or Burger King, “Have it your way.” It is lunchtime yet?