Introducing “product ads,” Facebook’s newest ad format for retailers that is designed to compete with Google’s shopping ads. Facebook describes their newest advertising idea as “a solution designed to help businesses promote multiple products, or their entire catalogs, across all the devices their customers use: phones, tablets and desktop computers.”
Facebook believes their popularity along with their consumer behavioral and location data will be the main variables setting them apart from other product based advertising. The product ad process is fairly simple for companies. Once they have uploaded their product catalogs, Facebook takes care of the ad creation and ad targeting. Target and Shutterfly are the two most notable companies who will be testing the product ads.
Earlier this morning, Facebook went into greater detail explaining the product ad process: “Advertisers can curate ads as they see fit. For instance, they can highlight products that were viewed on their website/mobile app or showcase best-selling products. Or they can create a multi-product ad that highlights the different benefits of a single product.”