The new version Facebook offer ads is MUCH better than the old one - tune in to learn why every ecommerce company should test offer ads.
Episode Transcript — Facebook Offer Ads
00:01 Stewart Anderson: Welcome back to the Spend $10K a Day podcast. I am one of your hosts, Stewart Anderson. The other host, Steve Weiss is with me right now. And we're gonna talk today about Facebook Offer Ads. They've gone through a few iterations. The most recent version, I think, launched a few months ago. And it is way better than the old one.
00:21 Steve Weiss: If you haven't played around Facebook Offer Ads and you are an e-commerce site that does discounting, then you are missing out on an amazing conversion objective... An amazing tool inside of Facebook that actually drums up urgency. It is the only tool that Facebook releases that drums up its own urgency to make a purchase of your product. So, the first thing, I'm sure some of you are wondering is, what is a Facebook Offer Ad? Well, the evolution of Facebook Offer Ads has been, over the last two years, has definitely changed a lot from a product perspective. When Facebook Offer Ads came out, it was just a way that you could do a quick daily deal to your fan page with a discount code. Now, and that's all it was, you couldn't really run it as an ad at first. You could only run it just to your page and it would show up on select news feeds. Now you could run an Offer Ad where people can select, say, "I want that offer." and make a purchase. And you can run that as a conversion objective, "I want sales." using an Offer Ad. The coolest part about the Offer Ad is about offers. What is an offer? An offer ends at a certain date. So, if someone redeems an offer and says, "I want that offer." and they redeem it. What does Facebook do if they haven't purchased? They remind people that they have an offer that's gonna expire.
01:48 SA: And they also, in the notification, I'm fairly certain that they say what the offer is, it's not just like, "Hey you have an unclaimed offer." It's like, "You have this offer." So, your brand is in the notification, which is great.
01:58 SW: Exactly. So, you're getting free advertising from Facebook reminding people to make a purchase of your product when you use an Offer Ad.
02:06 SA: And it's easy to opt into an offer initially if you're a user and you see an ad, it's one click, and you say, "I want it."
02:13 SW: Yep, here's a code, I want that offer. And when that offer is about to expire Facebook will literally remind you that, "Your offer is about to expire. Don't forget to redeem."
02:26 SA: Yeah. You get additional engagements with the user, which is great.
02:29 SA: And Facebook creates urgency. They don't do that for any other ad objective type or any other ad type. They are creating urgency.
02:37 SA: It's like the last 24 hours they do the countdown.
02:38 SW: Yeah. They have a countdown that they do on Facebook Offer Ads. I don't see a lot of companies doing this. And I don't really understand why? We've leveraged offers pretty well across a multitude of clients we work with. But I would totally get on the Facebook Offer Ads. Especially with the holiday season coming up. They work great for holidays. Obviously, 4th of July, Memorial Day. Work amazing.
03:02 SA: Mother's Day, Father's Day are going to be huge for this too.
03:04 SW: Yep. Mother's Day. Father's Day. I would totally jump on the Facebook Offer Ads.
03:08 SA: Yeah. Think about a tip we always tell people is, "Hey, if there's not a lot of people using Offer Ads right now, that inventory's probably going to be a little bit cheaper than the other stuff. Hop on stuff that isn't widely used."
03:21 SW: Test it out and before you know it, you're gonna have success with something not a lot of people are using. Also, people don't see a lot of Offer Ads in their news feed so when they see something interesting, they're more likely to make an action on it.
03:34 SA: Definitely. It's using a lot of the principles that you might use on your site for CRO. You trying to drive people down [03:42] ____ through your conversion, but you're doing them on Facebook, it's pretty great. And clearly with Facebook investing time and resources into redoing Offer Ads. They really wanna make this a core part of their platform.
03:52 SW: Totally. I think that's the given. Well, just a quick recap. You could easily set-up Facebook Offer Ads inside of Power Editor, Ads Manager. Offer Ads allow you to create an offer for your product or service. They work on both mobile and desktop. And how it works if people redeem the offer and say that they want the offer, then if they haven't made a purchase, Facebook will remind them within 24 hours out, in the notification's tab, "You have something you need to redeem and make a purchase." And the reason why it works so good is 'cause Facebook creates urgency for your product.
04:22 SA: Absolutely. So, I'd definitely check out the new version of Offer Ads, they're pretty great. And we'll be back again soon with more great Facebook and e-commerce content.