A Closer Look at Meta’s New “Advantage+ Shopping Campaigns”

In the ever-changing world of digital marketing, it may be challenging to stay on top of new developments. In this article, we’ll explain “Advantage+ Shopping Campaigns”, one of the most recent developments in Meta, to help you comprehend it better.

Advantage+ :

Advantage+ is a set of services created by Meta that simplify the work of marketers by utilizing machine learning. The promise made by Meta to use Advantage+ technologies to boost performance is noteworthy. You will be using Meta’s best practices and AI for promoting purchases when you choose Advantage+.

As advertises, we will continue to see new developments from Meta this year. The most current one is the “Advantage+ Shopping Campaigns”, an automated solution for Shopping Campaigns on Facebook and Instagram, was introduced by Meta on August 15th, 2022.

Advantage+ Shopping Campaign:

Advantage+ Shopping Campaign is a product which utilizes AI to optimize every step of a campaign with a shopping focus, including automating the creative, the budget, audience targeting, ad placements and any other campaign aspect. This new campaign type, which is created especially for e-commerce marketers, simplifies the ad production process and enables the creation of up to 150 creative possibilities at once.

Advantage+ Shopping campaigns enable you to integrate all audiences into one streamlined campaign setup rather than establishing several campaigns and ad sets for targeting a different variety of audiences.

According to a study by Meta, 52% of shoppers desire to discover new brands and items that suit their purchasing tastes. According to Meta’s claim in this situation, advertisers may use Advantage+ solutions to harness the power of AI and deliver more relevant ads to the customers who are most valuable to their businesses. The cost per conversion for Advantage+ Shopping ads is 12% cheaper than the cost per conversion for traditional advertising, according to a Meta analysis of 15 A/B testing.

Setting Up an Advantage+ Shopping Campaign

The setup is pretty simple. You open the campaign creation screen as you always do from your Business Manager ad panel. When you select your campaign objective as sales, you will see the Advantage+ Shopping Campaign model option and the option to create a manual campaign. At this point, when you choose Advantage+, you see that artificial intelligence gradually takes control.

AI will optimize elements that we could perhaps describe as the building blocks of the campaign, such as targeting, placements and budget. It is possible to view these presets optimized by artificial intelligence from the “See all preset settings” button on the next screen. But this button is display mode only, it does not allow you to interfere with applied presets. If you want to change the settings, you will have to go back and create a manual campaign.

There is a point that you should pay attention to for the next step. Your webshop must have an active Meta Pixel installed, with which you can measure purchase activity. By default, Advantage+ Shopping Campaigns are optimized for purchase events. In other words, the conversion event of the campaign will also be automatically selected as purchase.

Audience Targeting

You can then target the region where you want to sell your product in the following step. You can select one or more locations here. However, because artificial intelligence does not allow you to target demographics, your only option at this stage may be your choice of location. You also can’t narrow down interests.

Meta’s purpose here is not to limit you, but to ensure that artificial intelligence is not limited. Its purpose is to offer liquidity and freedom for the algorithm to discover as many buyers in your target region as possible. You may restrict results and complicate the algorithm’s job if you confine the audience by age, gender, or hobbies.

In addition, you may want to see how existing and new customers are converting when you have limited authority in the formation of the target audience.This is where the reporting feature of the campaign comes into play. You can select existing custom audiences by going to your ad account settings, or create new custom audiences, and analyze your campaign reports in detail by segmenting these audiences.

Budget Optimization

This campaign model allows you to specify a budget cap so that your budget spending may be wisely optimized. The “Existing Customer Budget Cap” option appears in addition to the daily campaign budget you choose. Advertisers can use this budget cap to set the percentage of their budget to give to current customers. Meta will be able to identify your existing clients and assign the greatest advertising budget to these audiences by developing bespoke audiences (for example, based on your website visits etc.).

Ad Creatives

When it comes time to add creative to your campaign, Meta offers importing your top-performing ads based on data from prior advertising. Meta’s purpose with this recommendation is to be able to test your creatives automatically and serve the best-performing ones. It is up to you to implement this suggestion; if you do not want to, you can manually add ad creative. In a campaign, you may test up to 150 creative variants to show the best-performing advertisements to the highest-value buyers.

We can say that the Advantage+ Shopping Campaign model is the first Meta model that utilizes artificial intelligence to maximize performance nearly entirely automatically. In this structure, which facilitates and accelerates the installation process, you should not overlook the points you need to pay attention to for your business goals.

With the updates made on Advantage+ , we can see that artificial intelligence and machine learning continue to be a top priority for Meta, and it is not hard to predict that these features will continue to be a major investment area in the years to come. It appears that artificial intelligence’s automation capabilities will grow considerably more in the near future.

References:

1- Facebook

2- searchenginejournal.com

3- bramsocial.com

4- makeitbloom.com