Facebook first launched Dynamic Ads, an ads re-targeting service just last year in an attempt to customize your ads experience on the network. On Tuesday, the social giant announced that its photo and video based social platform Instagram, is also going to get this service now.
The social giant also added that Instagram will be getting two other ad-specific features too. These are a Dynamic Ad unit specifically for the travel sector and more details to its ‘lookalike’ custom audiences. The ‘lookalike’ service allows websites to prioritize services for their users depending on their number of visits etc. This allows web services to make better profits.
The Custom Audiences service was already working in high swing. Facebook just renewed the service and added in more features and data. The update, Facebook says will allow websites to show stronger focus on specific sections of consumers, hence increasing productivity.
The new options address the fact that some website visitors are more valuable to a business than others.
Currently, Facebook has a user base of over 1.65 billion users and it wants to use all the data it can get from them to make good money. In fact, the company’s overall monetization comes almost completely from advertising. According to the social giant, its revenue last quarter was just under $5.4 billion. The company also adds that it’s expanding the ad units is specifically to address its mobile users. Evidently, mobile generally accounts for more than 80 percent of the company’s revenue. Keeping that on the apex, Facebook is trying to expand ways to capitalize by using all the user data it can get.
According to Facebook, 2.5 billion products have been uploaded to Facebook and up till now around 440 million people have viewed products in Dynamic Ads in just the last three months.
While many advertisers already use Instagram to promote their products, tailoring ad creative and targeting for every product in their catalog has been time-consuming,
Now with Dynamic Ads, advertisers can showcase every one of their products automatically with dynamic creative and targeting, so they can show the right product to the right person every time.
Instagram being a graphic service can achieve this goal of Facebook much more quickly and efficiently. In fact, people who do a lot of e-shopping take to Instagram and visit retailers’ and other sellers’ pages. This data could be used to generated user-customized ads bringing in not just revenue for the company but also making it more popular among users as well as retailers.
In a similar manner, the company is expanding dynamic ads in the travel business too. This means people who viewed a hotel, a spa, a beach or anything related to travel will be shown ads as such. This will make ads more effective. To make things more interesting, Facebook is even adding location and travel date data into the service.
Dynamic Ads for travel empower travel advertisers to offer hotel options to people who have shown interest in taking a trip, either by browsing hotels or searching and purchasing a flight,
the company says.
For example, a travel business can connect with people who viewed a hotel on their website by showing them an ad featuring the hotel they viewed along with similar hotels in the area.