By: Joe McCormack, CEO, Adquant
Facebook has created a series of ad formats that are uniquely designed to meet the needs of a modern CMO. It can be broken down into four categories—website, offline store, mobile, and brand awareness. Not every company has an offline store or mobile app, but these categories go deep enough to provide a wide plethora of solutions.
Looking at the first category, website, we know that good marketers (depending on their business models) will be looking to drive website sales or collect leads. This is why Facebook offers the “Page Post Link Ad,” which provides an eye-catching format designed to drive website conversions. Facebook also offers “Domain Sponsored Stories” so that a CMO can amplify the social effect of a customer making a purchase across the company’s social network. Maybe you just want to increase your website traffic. Well, Facebook has the “Domain Ad” to help you do that as well.
For those in the retail and offline world, Facebook has created Offer Ads to help push the reach of your promotions, while “Check-in Sponsored Stories” will increase foot traffic and sales by promoting brand engagement in the stores.
Mobile-centric companies can push their apps with “Mobile App Install Ad.” (In fact, Facebook has also informed that this format will also support video.) Companies looking to increase their brand awareness can use “Page Post Ads” to place content into the Facebook news feed where over 60% of Facebook users look at least once a day.
Truly, for the first time in online advertising, a channel is asking the marketer, “What do you need?” And what CMOs need, generally, are answers to the following questions:
By standardizing the ad formats and putting more of a focus on the content Facebook is enabling marketers to create more effective messaging, which ultimately drives better results and can provide answers to each of the previous questions.
So here are the top five reasons why CMOs should embrace Facebook’s changes:
What was the goal of such a major overhaul of ad formats? That’s easy. It was to simplify the media-buying process and make it easier for advertisers to run campaigns on Facebook. At a recent presentation, a top Facebook executive used the Da Vinci quote, “Simplicity is the ultimate sophistication.” Those five words quite nicely sum up a lot of things-or they should. But in this particular case, they do.