In this privacy-centric era, with transparency taking centre stage, tracking customer data, and getting insights has become a huge deal. As a result, mapping out the customer journey or personalising ad targeting has become challenging.
This way, marketers are already bending over backwards to find viable pathways to move past this obstacle and build an approach for clear-value exchange.
Amid this, the retail media network is one way businesses, particularly CPG brands, lean on to reach customers across a variety of online surfaces.
At this point, Facebook’s new ad types sound promising for retailers in many ways.
Manager Partner Ads:
With manager partner ads, marketers will be able to get accurate insights on the products that have high demand among the audiences. And the insights will be huge for marketers.
It will help them create better personalized ads and optimize their campaigns on Facebook so as to maximize the campaign's performance. Besides helping brands reach relevant buyers, audiences will also be able to easily find products that they are interested in buying.
Altogether, we believe that as social media and retail media networks get to work together, the result will be incredibly advantageous for brands.
Local inventory ads:
Marketers can leverage this ad type to let local shoppers know that their nearby shop has the product they are looking for, and retailers can easily sway their purchase decision.
On the other hand, it gives flexibility to the user to buy products wherever they prefer. This way, using local inventory ads, marketers will be able to provide a seamless shopping experience to potential customers and drive sales.
In addition to driving customers to their physical stores, local inventory ads can be helpful to improve omnichannel revenue growth.
Overall, we believe that Facebook’s new ad types are a way forward for marketers to swim against the increasing difficulty of tracking customer data. These new ad types have the potential to provide more value to retailers in terms of improving campaign performance, optimising ad spends, and driving sales.