Today’s post originally appeared on Miva Merchant’s blog on Tuesday, November 6th.
What is it? Why should I use it?
Earlier this year, Facebook began Beta testing and launched its new advertising platform, Facebook Exchange (FBX), with a few select technology companies. For the first time ever, advertisers could use their own data to reach their audience on Facebook.
Through FBX, an advertiser can retarget users who previously browsed their site with a more relevant and unique Facebook ad unit. Coupled with Facebook’s massive reach, over 1 Billion users visit the site monthly, retargeting through FBX can truly put the right ad, in front of the right user, at the right time.
Since the initial Beta phase, we’ve seen great success from our FBX campaigns – 16x ROI on a blended attribution model. Because the ad units always show above-the-fold, or the portion of the page viewable without scrolling, and users are more aware of the ad slots, we’ve seen higher-quality clicks from the campaigns we’ve run.
How is it different than Facebook Marketplace Advertising?
In comparison, Facebook Marketplace ads use Facebook-gathered data, such as location, gender, age, likes and interests, for targeting purposes. However, it is important to note that FBX is not a replacement for Facebook Marketplace advertising and, when used in conjunction, can be a very effective marketing strategy.
What are my first steps?
Identify the segments you want to retarget. If you’re already running retargeting campaigns, you know that segmentation is one of the best ways to get the right message in front of the right audience – serving ads with FBX is no different!
Also, familiarize yourself with the Facebook ad format – it’s not your standard display ad! Here are the creative requirements:
- An image no larger than 100 pixels by 72 pixels
- A title at most 25 characters including spaces
- Body text that is at most 90 characters including spaces
- 45K max file size
No word used in the creative can be longer than 20 characters and the following characters are not allowed at this time: @ > # $ % ^ & * ( ) <
Lastly, be ready to test and iterate. Watch the metrics carefully and make tweaks, both small and large, to make your advertising work for you!
I’m already advertising on FBX. Any tips for a more “experienced” advertiser?
Due to the diverse nature of an advertiser’s products and service offerings, we recommend updating creative based on a variety of factors:
- User List Size: If you are consistently reaching a large majority of your audience, we recommend cycling in creative frequently to keep potential customers engaged with your brand and products.
- Cookie Duration: Longer cookie durations expose the same ads to the same audience for an extended period of time and can quickly lead to creative fatigue. If you have longer cookie windows, cycle in fresh creative more often! Conversely, shorter cookie durations need less frequent creative refreshes as user list composition changes more quickly.
- A/B Testing: Rotating in different types of creative and testing them against each other ensures that you are receiving the best ROI from your ads. From the start, we suggest uploading multiple versions of an ad to see which resonates with your potential customers the best.
- Dynamic ads on Facebook can take creative and performance to the next level. Our dynamic creatives on FBX have seen a click-through rate increase of 102% over standard Facebook Exchange ads. Contact your FBX provider to discuss dynamic ads options!
Lastly, our President, Adam Berke, recently took to FBPPC.com to discuss ways in which you can use real-time bidding on FBX to improve your creative in your retargeting campaign – check them out!