Facebook Product Innovations and Updates

facebook-iphone-6Facebook announced a number of new features to be rolled out in the Facebook Ads platform over Q4 of 2015. These new features include:

  • TRP (Target Ratings Points) Buying, to be used in conjunction with TV campaigns
  • Brand Awareness Optimization
  • Video Ads available in the Carousel format

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TRP BUYING:

Facebook’s introduction of TRP buying (target rating point) allows advertisers to plan, buy and measure Facebook video ads similar to TV is planned and bought. In-target TRP delivery is verified by Nielsen’s Digital Ad Ratings measurement system, and can be further verified for Facebook and TV together. Essentially, the introduction of TRP Buying transforms Facebook Ads from a purely digital medium into a synergistic tool to be used to complement TV. M+P participated in studies paring TV with Facebook Ads, resulting in higher targeted reach, ad memorability, brand linkage, and likeability linkage across the board. By combining the broad reach of TV with the levels of targeting available through Facebook, we expect TRP Buying to bring higher performance and synergy to TV/social campaigns. Given the early success of the product, M+P will recommend when appropriate to support/align with national TV buys.

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BRAND AWARENESS OPTIMIZATION:

The introduction of Brand Awareness Optimization bidding is designed to increase ad recall and ensure marketers are reaching brand awareness goals. When optimizing for awareness, Facebook will take into account reach and attention (based on how long a user spends on an ad). This strategy will be available in the auction as well as the Reach/Frequency tool. This tactic will be tested for effectiveness of large-scale awareness campaigns, i.e. product launches. By leveraging the Reach/Frequency tool, we should be able to lock in favorable CPM’s while ensuring that our ads aren’t just being served but are being seen and remembered.

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VIDEO ADS IN CAROUSEL:

Facebook has updated the Carousel ad format to include video in the first carousel slot. This gives advertisers another powerful tool for storytelling in a single ad unit. The auto-play video catches the users attention, and can help lead down the sales funnel with more product-focused images further in the carousel. This new functionality will be especially useful for displaying a new line of products or a series of promotions.

More to come as M+P will work with clients to include these new features in our 2016 strategy.