May 16, 2020
LinkedIn Lead Gen Form Tips and Tricks
Recently, Facebook launched a new type of targeting for dynamic ads, called DPA for broad audiences. It was developed as a way for Facebook advertisers who currently have a catalog on Facebook to advertise that catalog to potential new customers.
You may already be familiar with traditional Facebook Dynamic Product Ads, which allow you to show product image ads to customers who have previously expressed interest in the products or types of products you offer. DPA for broad audiences, however, gives you the opportunity to expand your targeting.
While DPA is used for retargeting products, DPA for broad audiences shows products from your Facebook product catalog to people who are new to your brand or website. Facebook identifies users who are in your target market and have a high intent to purchase, and then shows ads to this audience. This means that you’re able to reach new customers with your product image ads on Facebook, similar to how you’re able to reach new customers through Facebook Lookalike audiences.
Facebook uses diverse types of intent signals to find people to show your catalog to. These intent signals can include, but are not limited to, actions such as buying complementary goods, liking relevant pages, clicking on relevant ads, and engaging in similar behaviors to people who have bought your products. Facebook uses these intent signals to identify when the right time is to show a specific product to specific customer. For example, if you sell candles, Facebook would show a pumpkin candle to someone who has actively searched for and visited pages for pumpkin candles.
Because of the incredible amount of data required to choose the right customers, Facebook recommends that you don’t implement refined targeting other than demographics targeting, which includes gender, age, and country targeting. If your customers tend to swing significantly toward one gender or age group, then you should refine your demographic targeting. For example, if your customer base is 85% men between the ages of 25 to 55, you should refine your demographic targeting. If your average purchasers are split 50% men and 50% women, then keep both options open.
With broader audience targeting, it is possible to generate audiences containing over 10 million users. While the size of the audiences may seem alarming, this increased reach gives Facebook a wider pool of users to choose from to show your ads to.
Based on our testing so far, we’ve seen positive results from DPA for broad audiences. One Metric Theory client who piloted this new offering saw ROI double, CPCs decrease by 40%, CTRs increase by 50%, and average order size double period over period when compared to their Lookalike campaign.
If you’re an ecommerce advertiser, give DPA for broad audiences a try and see how it compares to your other prospecting efforts.