Estimated Reading Time: 7 Minutes
Last Update: 7/4/2018
Facebook is a robust and versatile advertising platform, to keep it that way, there are ongoing New Facebook Updates to their advertising platform.
Especially given Facebook’s annual growth in advertising revenue they have an excellent reason to keep their head in the game.
Facebook’s U.S. and non-U.S. advertising revenue from 2014 to 2018 (in billion U.S. dollars)
Consequently, new Facebook features can bring about constant change, annoyances, and new opportunities.
For this reason, I cover nine can’t miss Facebook new features, upcoming and released, to make sure you stay on top of your game.
New Facebook Updates
Dynamic Creative Objective Update
Promote an existing IG post with Ads Manager
Updated Ads Reporting
New Way To Work With Third Pary Data
Custom Audience Terms
Creating Ads: Guided Creation Quick Creation
New Facebook Analytics Features
Let’s dive right into the most recent updates:
#1 Dynamic Creative Objective Update
Dynamic creatives are slowly becoming available for all advertisers although with some limitations on campaign type. Facebook is now expanding campaign objectives you can use with dynamic creatives.
If running campaigns at scale this is a great way to leverage the Facebook algorithm in defining the best possible creative combination.
Available objectives are now:
Facebook has also opened up carousel as a new ad format for dynamic ads.
Available formats are now:
#2 Promote an existing IG post with Ads Manager
This new Facebook update will be a lifesaver. Until now you could not boost an existing Instagram post the way you could an existing Facebook Ad.
Running ads separate could increase your followers, but it minimized engagement since any comments (which often includes tagging other users) and likes strictly occurred within the ad post, not the native feed post.
According to Facebook, they started gradually rolling out this feature in June.
#3 Updated Ads Reporting
Finally, thank you for this Facebook update 🙂 this was long overdue. The new flexible drag and drop interface is pretty intuitive and easy to use for custom reporting needs. The updated ads reporting even has pivoting capabilities.
#4 New Way To Work With Third Party Data
Oh no, Facebook is killing third-party data by shutting down partner categories but wait there is a different way.
According to Oracle:
“Since this announcement, Oracle Data Cloud (ODC) + Facebook leadership have been working quickly to develop a new protocol that will enable advertisers to continue leveraging ODC’s data via direct contracting with ODC. ” – from DLX
So you cannot natively target third-party data on Facebook unless you are directly contracting with Oracle.
Note: To get started with ODC you can contact them through their Oracle Data Hotline.
#5 Custom Audience Terms
Are you using Customer Data? That’s fine you still can it is just not a free for all the way it used to be.
#6 Creating Ads: Guided Creation vs Quick Creation
I used to get locked into the guided creation which was a real nuance at times.
However, this new Facebook feature has made it, so there is a clear distinction between the two.
If I am creating known objectives in bulk, I like to work with quick creation, but when I am looking to explore features and ad types by campaign objective, I want to use the guided creation.
#7 Split Testing
Split testing is a great tool to use when you want to isolate variables such as image or copy for creative test a hypothesis.
Now, Facebook allows you to test across five campaign components Creative, Delivery Optimization, Audience, and Placement.
Until now split testing is done manually, but the process is time-consuming and inaccurate.
However, now you can directly set up A/B test for different components without Audience overlap ensuring accurate and actionable results.
Facebook also gives you a choice to let the algorithm favor the better performing ad as soon as enough data has been collected or wait until the campaign has completed.
#8 Marketplace Ads
You can now enable the Marketplace as a placement and reach people that are already shopping.
In other words, The Facebook marketplace is like the Facebook version of ‘Craigslist’ where people can buy and sell locally.
The Facebook marketplace can be an excellent opportunity for business to reach users with the intent to purchase.
Now if you could target product categories so you can align your advertised product with similar products the user is looking for Facebook would be on to something 🙂
#9 New Facebook Analytics Features
Facebook added some new Facebook Analytics features in May of 2018 with a focus on understanding people based on omnichannel Journeys.
Interestingly enough most of these features are built to leverage the Facebook algorithm in defining user journey and effective funnels.
However, If you are not yet using Facebook Analytics, it is a great way to measure people based results and get insights you cannot find in reporting tools like Google Analytics.
Also, Facebook squeezed in a Facebook Analytics app so that you can measure results on the go.
Some Facebook updates and new Facebook features are spotted faster than others. Specifically, the ones that disrupt your workflow 🙂
However, some recent changes to Facebook are more subtle but can impact your Facebook Advertising approach.
Did you find these latest Facebook updates useful?
Are there any 2018 Facebook new features you would have included?
Let me know in the comments below.