Ecommerce company, Nomorerack, was looking for a new way to promote their products through Facebook. That is when they stumbled upon the Facebook multi product ads. This is the new ad format from Facebook that is sweeping the social media marketing community as a whole.
Shortly after using multi-product ads (MPA), the ecommerce company increased their click-through-rates by 42%, and saw their cost per acquisition decrease between 42% and 45%.
They are not alone. Facebook’s new multi-product ad format is a gold mine for content marketing agencies and ecommerce companies looking to improve their conversions and ad performance. Facebook ads are an important component of your social media strategy.
Below we discuss more about what the new Facebook multi product ad format is, and how to use it for your marketing efforts.
What are Facebook Multi Product Ads
Facebook Multi product ads, also known as carousel ads, were created to help businesses showcase up to three products in a single ad. These ads are displayed in a carousel on both desktop and mobile devices. Each product has their own image, description, and call-to-action. You create multi product ads (MPAs) the same way you would create any ad in the ad manager on Facebook. Here is a step by step guide for businesses who have never created a Facebook ad. The big different is in step 3 of the ad creation process where you choose the multi product ad over a single image or video ad.
Like we mentioned before, each ad in your carousel has a picture, name, description, and link. Therefore, you need to ensure you have great ad copy for not one, but three different products.
What are the benefits of using Facebook-multi product ads?
Promote more products
Let’s start with the obvious here. By using the multi-product ads, you can promote more products. For example, blogger and Facebook marketer Jon Loomer used the new multi product ad format to promote his Power Hitters Club membership. Instead of one option, he tested out three different options to drive traffic to his page. Ecommerce companies with multiple products can create a thematic ad carousel of three different products in the same niche to increase add-on sales for each product.
Test out best products to promote.
Another benefit of promoting three different products is you can test side by side, which image and product gets the most clicks. Consider a recent ad by Shutterfly. They tested out three different products in a similar niche with a 40% discount on each product. Since, the article was visually appealing, and the three ads fit thematically together, they can test which ad has the highest conversion rate. According to Shutterfly Chief Marketing Officer John Boris, they saw a 20% increase in click-through rates us multi-product ads.
Increase your mobile sales.
Mobile commerce is on the rise. Internet Retailer predicts mobile sales of $298 Billion in 2015. By 2018, mobile sales will account for half of all ecommerce sales. Since 1 out of every 6 minutes spent on mobile devices now occurs on Facebook, it only makes sense you want an ad product that works well on mobile devices. Facebook’s carousels do this for consumers. They work as well on mobile as they do on desktops.
Increases your click through in combination with Custom Audiences.
We talked earlier about ecommerce company Nomorerack. They increased their click through rate not only by using Facebook multi-product ads, but also in combination with custom audiences. Their ads were targeted, and gave their preferred audience additional choices to purchase from their website. Custom audiences have been proven to lower cost per acquisition by as much as 64%. It therefore, makes sense to combine your custom audience selections with product ads.
Promote additional content to encourage more content sharing.
Traditional Facebook ad marketing requires ads for each post. With a multi product ad, you can then test out multiple pieces of content, and get shares, likes, and comments on three pieces of content for the price of one ad. This is a marketers dream. They can receive three times as many impressions for their content as a single ad. For example, look at this post from Daft.ie. The company used Facebook multi-product ads to share an infographic, reports, and a view of a property they were selling at the same time.
By doing all three at once, they can increase the chances their content is shared and liked by more fans. Plus, when you create a campaign to increase website conversions or clicks, you do not get charged for likes, shares, and comments.
This is a great tool for re-targeting ads.
Multi-product ads provide a terrific way to increase your conversion rate through retargeted ads. With the use of Facebook pixels, you can use the same code you would use for customary Facebook ads to get previous site visitors to then convert on products you offer. That should not be a surprise. Retargeted display ads are proven to be 70% more likely to convert on your website.
The same article reported 72% of online shoppers abandon their shopping cart prior to purchase. Without retargeted ads, only 8% of those customers complete their transactions. Why not give that number a boost with multi-product ads that can provide ideas for what products your customers can purchase from you.
The new era of advertising has arrived on Facebook with multi product ads. It provides mobile-friendly, retargeted, custom audiences for marketers to sell their products and promote their content. For years, Facebook marketers said the social network did not provide enough support to monetise products on ads. With the Facebook multiple product ads, marketers have seen a seismic shift in Facebook’s ability to help marketer’s increase their conversions.
Marketers now have the ability to simultaneously create and test ads that can be directed to a custom audience and retargeted to interested parties who want to purchase their products. It seems like the last piece in the puzzle has arrived for marketers looking to take advantage of Facebook advertising.
What do you think about Facebook multi-product ads? How do you plan to use them for your own business? Get in touch and we will show you how!