Meta Consolidates Automated Ad Products Under Meta Advantage Portfolio
Meta is consolidating all of its automated products under the ‘Meta Advantage’ umbrella. The new suite is the home to Meta’s existing automated tools such as Detailed Targeting Expansion, Automatic Placements or Automated App Ads as well as future automated products in the works.
The new suite, Meta Advantage will help advertisers to easily identify and benefit from Meta’s ad offerings. Goksu Nebol-Perlman, VP of Product Marketing, Ads & Business Products Meta said in a blog post that 77% of advertisers testing its automated products saved several hours per week by using them. She further added,
“Automated ad products help to improve the performance of your ads by relying more on machine learning, such as automatically finding the most relevant audiences or ad placements. They also allow you to further simplify optimizing campaigns, so you can worry less about managing campaigns and get back to running your business.”
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Still reticent and reluctant!
Despite Facebook, and now Meta, pushing advertisers to embrace automation (Google has also been doing so), there has been reluctance from advertisers along the way. The platform claims that machine-learning-powered ad products reduce manual work and yield better results at lower prices. However, some buyers are turned off by the lack of control and transparency.
Regardless, the trend toward greater automation is clear, and it’s best to go with it.
What’s new in Meta Advantage?
There are 2 kinds of Advantage products in the suite. First, those features marked “Advantage” help advertisers to enhance a specific aspect of manual campaign setup, such as the selected detailed targeting options within your target audience. Second, those products marked “Advantage+” allow automating an entire campaign flow or an entire core step of manual campaign setups, such as placements or creative.
Meta Advantage aims to provide three key benefits to advertisers- Optimization, Personalization, and Efficiency.
Features under the Meta Advantage umbrella include:
- Advantage Lookalikes: (currently known as Lookalike Expansion) It allows Meta to automatically reach a broader set of people beyond the set parameters in the advertiser’s lookalike audience. Meta studies show when using Advantage Lookalikes, Website or Mobile Custom Audience seeds saw a 17.3% decrease in median CPA. On the other hand, Customer List Custom audience seeds saw a 10.1% decrease.
- Advantage Detailed Targeting: (currently known as Detailed Targeting Expansion) It uses the advertiser’s targeting preferences: demographics, interests, and behaviors as a guide to finding better performance opportunities outside of a defined audience.
- Advantage+ App Campaigns: (currently known as Automated App Ads) This product uses machine learning to deliver creative variations to the most appropriate audiences and placements based on Meta’s ad systems.
- Advantage+ Placements: (currently known as Automatic Placements) Meta algorithms find the most effective placement for a given ad in order to maximize performance. Showing ads across 6 or more Placements— such as Facebook Marketplace, Instagram Stories, Reels—gives Meta’s system more flexibility to control costs and provide better results.
- Advantage+ Creative: (currently known as Dynamic Experiences) It automatically bundles a set of creative optimizations into a single entry that can improve ad performance.
- Advantage+ Shopping Campaigns: (currently known as Automated Shopping Ads) Meta plans to add it to the suite by end of the year. It optimizes across multiple campaign levers- creative, targeting, placement, budget, and other campaign levers to find the best opportunities to drive conversions with minimal efforts.
The product is in the beta phase now. Goksu Nebol-Perlman concluded,
“Wherever you see the name Advantage, you can be sure you’re getting our most advanced automation and machine learning technology designed to help you create and deliver your most efficient campaigns. As we progress through 2022, we will continue to update you on how to increase your performance on our platforms and ensure that you’re able to build and grow your business.”
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