Meta’s latest digital advertising offering “Meta Advantage” is making it easier for digital advertisers to locate new audiences and automate their campaigns on Meta services. What do digital marketers need to know right now about the latest automation-powered ad suite? Let’s jump right in!
New Meta Advantage Features
Advantage Lookalike Audiences puts Meta’s data-backed automation to work finding you a broader audience automatically. If Advantage Lookalikes identifies opportunities outside your defined lookalike size, it may expand the audience to take advantage of that opportunity. Studies show using Advantage Lookalikes can improve Cost per Action (CPA) when compared to using Lookalike Targeting only.
Advantage Detailed Targeting
Detailed targeting finds additional audiences by utilizing an advertiser’s targeting preferences, (such as interests) as a guideline to find additional audiences. Meta Advantage will put its automation to work if it finds better performance outside your defined audience, and make smart updates to expand your audience. Internal Meta lift studies showed Advantage Detailed Targeting had a 37% lower median cost per incremental conversion than when not used.
Advantage+ App Campaigns
App campaigns simplify the process of the ad’s app creation process. It also simplifies the customer’s steps when viewing or processing the ads. It utilizes machine learning and automation to effectively choose your audience’s ad placements. This way, it can adjust and adequately assign the ads to the specific audience to improve the campaign’s performance.
Advantage+ placements optimize your ads on the highest-performing platforms. It analyzes how your ad performance across platforms like Facebook and Instagram and will select the best place for your ad automatically.
[Coming Soon] Advantage+ Shopping Campaigns
Currently known as Automated Shopping Ads, the new Advantage+ Shopping hopes to deliver advertisers increased ad performance with minimal effort by optimizing key campaign levers such as creative, targeting, placements, and budget in order to find the best opportunities to drive conversions. A recent Meta study found Advantage+ Shopping yielded 12% lower cost per purchase conversion compared to advertisers’ Business as Usual (BAU).
Currently known as Dynamic Experiences, Advantage+ Creative makes it easier to select and optimize your ad creatives by combining a set of creative optimizations into a convenient single-entry point. It also gives you multiple design options to compare and choose the best option for your campaign. A recent Meta study showed a 3% lower CPA when using Dynamic Experiences to automatically optimize creatives in campaigns optimizing for Link Clicks, Landing Page Views, and Offsite Conversions.
Benefits of Meta Advantage
Optimization: Smart audience optimization is looking to deliver not only immediate campaign results but sustain them over time with data-backed automation.
Personalization: Simplified personalization and creative options make it easier (and faster) for your team to remain agile in creative ad placement.
Efficiency: Smart optimization of the platform frees up your team for other high-value tasks such as channel diversification, overall strategy, and direct consumer outreach.
Finding the Right Strategy to Fully Leverage Meta Advantage
Having the right strategy in place to take advantage of the industry’s increasingly smart automation processes has become essential for all eCommerce teams. Need help crafting a plan to reach the right customers at the right time? We’ve got you covered with our “3-Step Guide to eCommerce Promotions”.