So how and where do you fit in, an e-commerce marketer who lives and dies by bottom-line stats — revenue, cost, and ROAS — rather than engagement metrics such as likes, comments, and shares?
Well, if there’s one trend that nearly everyone in retail marketing has watched attentively over the last decade it’s this: mobile traffic. And there’s one new Facebook ad format that’s got mobile written all over it: dynamic ads for retail.
Nearly an Hour a Day
Facebook is ubiquitous, but here a few facts and figures about Facebook that you might not have known…
50 minutes. That’s how much time the average U.S. consumer spends using Facebook and its other properties of Instagram and Facebook Messenger every single day.
Consider also that more than half of Facebook’s users are accessing the site exclusively on a mobile device. And that 80% of all social media consumption happens on mobile.
What does this mean?
In our eyes, if you agree that mobile should be an important source of e-commerce sales, and if you also believe Facebook’s own data about its users, then it logically follows that you’d want to tap Facebook to stay in front of your customers on mobile.
And that’s where dynamic ads for retail come in.
Time Well Spent
We’ve had a laser focus on Facebook dynamic ads for some time now. And today we launched the general availability of our optimization solution for these ads, which had been testing in beta with a number of retailers over the past several months.
Some of the most interesting outcomes we’ve seen so far have involved — you guessed it — mobile.
We looked at results by device type across a 60-day window for a sample of 12 e-commerce retailers using dynamic ads. And for those e-commerce marketers who are looking for an edge when it comes to mobile, the picture was a rosy one.
Average mobile return on ad spend (ROAS), many marketers’ preferred metric for campaign performance, was a healthy 12.02, which beat the average desktop ROAS of 9.83. Moreover, the average mobile AOV was $135.09, compared to $124.17 on desktop.
Finally, average mobile conversion rate clocked in at an impressive 6.2%.
We took things one step further and examined data for mobile dynamic ads targeting Facebook users that our solution identified as having “high intent to purchase,” and found that ROAS was 29% higher than other campaigns, while conversion rate was up by 8%.
Though dynamic ads are still a relatively new type of ad, our findings suggest that they are poised to play a critical role helping e-commerce marketers connect with customers on the most intimate piece of digital real estate, their phone screens.
E-commerce marketers face a daily barrage of decisions. Obviously, you want to choose wisely, and do what’s best for your business at all times. But in the data-driven world of e-commerce, it’s all too easy to obsess over the minutiae.
So it’s rare to be confronted with an opportunity as cut-and-dry as the one offered by Facebook’s dynamic ads: Your customers spend a lot of time on Facebook properties, likely on their phones, and dynamic ads keep them connected to relevant products from your catalog while they’re doing so.
For the full scoop on Facebook dynamic ads, grab our e-book Facebook Dynamic Ads Deconstructed for a complete breakdown of the ad format. And if you’re already educated on dynamic ads and want to learn more about our approach to the channel, check out today’s launch announcement for more details.