In the dynamic realm of Artificial Intelligence (AI), 2024 brings forth a host of performance trends ripe for exploration and leverage. As AI continues to evolve at an unprecedented pace, the focus shifts towards enhancing its capabilities across various domains.
Meta, with its expansive reach and innovative ecosystem, stands at the forefront of this AI revolution. Here’s what to expect this upcoming year.
Advantage+ Shopping Campaigns were introduced as a way to automate former manual sale campaigns. It is seen as the ideal solution for B2C as the AI takes care of the targeting, optimization and destination.
A performance comparison report is also available with ASC. This helps you compare your manual sale campaigns to the automated ones with direct insights into what elements are working and what needs to be improved.
Advantage+ also brings in an entirely new array of advantages, after all, it’s in the name. The AI will increase your ad performance; a 14% increase in purchases was noticed when using this tool. It will also reach customers you may have not considered in the past.
Another feature will add videos alongside static images to better convey what's being sold to the consumers, driving conversions. The solution also promotes the availability of locations and products nearby to the right users.
Meta mentioned they plan on creating engaging experiences with users on their networks. They aim to improve Reels, making it more of a full-screen immersive experience. Larger call-to-action buttons will be incorporated and users will be able to watch and browse while never leaving the app.
Partnered branded ads will also be incorporated as well as reminder ads that notify users of time-sensitive moments and promotional ads helping users find deals and promotions.
By 2024, in-store sales are expected to still represent 80% of total retail sales in Canada. So, building your marketing and measurement with an omnichannel base is not just a good idea, it is a requirement for growth, but what is Omnichannel Marketing?
Omnichannel marketing is a strategic approach that aims to provide a seamless and consistent customer experience across all available channels, both online and offline. It recognizes that modern consumers interact with businesses through various touchpoints, such as brick-and-mortar stores, websites, mobile apps, social media platforms, email, and many more.
The goal of omnichannel marketing is to create a unified and integrated experience for customers, regardless of what channel they prefer. In a market where in-store sales are a big part of the equation, adopting omnichannel marketing is essential. It offers the highest level of interaction, creating a unique experience and fostering customer loyalty.
Meta understands the importance of efficiency and volume in marketing. They pride themselves on being useful to advertisers and businesses of all sizes. With the Performance 5 framework, all those interested will be able to make use of Meta’s latest investments in AI, Reels and new ad formats. The Performance 5 framework is based on five actionable best practices that increase your performance when using Meta ads products. They are as follows:
The most important strategy is account simplicity because it forms the basis for the remainder of Meta's counsel. Their delivery system investigates which audiences and placements are best for your ad throughout the campaign's learning phase when an advertiser launches an ad campaign on the platform. Account simplification is essential to ensure that the recommendations Meta's AI continues to get better with more inputs as they continue to invest in it to help advertisers realize improved results from their ad expenditure.
Nowadays, the consumer experience is more dynamic than it has ever been. Automation may assist marketers in keeping up with the rate of change without having to spend additional money, time, or resources on it. Marketers can automate every step of their setup using Meta's Advantage suite of products, including the audience, creative, and placement of their ads, as well as shopping campaigns and Advantage+ capabilities.
Marketers once relied on a mass message to reach large audiences, but today they understand the benefit of targeting specific groups with more pertinent messaging. Marketers can utilize creative as a novel method of targeting with individual messages that resonate with various client demands or interests by continuously developing and improving their ad creative. To begin, marketers can diversify their advertisements by concept, the message and graphics of an advertisement, or the style of advertisement, such as placing a video ad in Reels or collaborating with an artist for a partnership ad.
Businesses may directly connect their marketing data with Meta to enhance campaign performance and measurement by utilizing the Conversions API. In addition to putting the Conversions API into practice, we advise marketers to maintain high-quality event matching to ensure that they can recognize Meta accounts that complete an action, combine the Conversions API and the Meta Pixel for redundancy, ensure you're not counting events more than once, and share events as close to real-time as possible for the best performance and measurement gains.
Meta advises organizations to employ marketing mix modelling, A/B testing, and conversion lift to assess the incremental impact of their campaigns, quantify the value of their outcomes, and better understand how their campaigns performed.
56% of all auction outcomes can be attributed to great creativity. It is important to keep in mind the 3 components that work in synchrony regarding creatives. The first is differentiated, meaning it is a creative that unlocks new audience pools. The second is anti-fatigue. Its purpose is to ensure a fresh stream of creatives that drives a high response rate. The third is resonant which is self-explanatory. It entails developing a creative that resonates with the core audience. Nowadays, user-generated content is the key to keep users engaged in ads.
Generating leads and converting them is tough and we are well aware of that fact. Reach out to us at Webtmize to make full use of Meta’s new tools and help your business reach its full potential. Experience constant growth, positive ROI and tremendous ROAS when working with leading marketing experts at Webtmize. Whether you need PPC, SEO or other services, we’ve got you covered from start to finish!