Facebook recently revamped its “Offers’ program, now allowing retailers to offer coupons for discounts that are redeemable in-store or online for e-commerce platforms such as Shopify. Originally launched in 2012, Offers hasn’t had the success that Facebook originally intended. That is especially true when compared to its mobile ad platform that accounts for 84% of the organization’s revenue.
So what Do Facebook Offers Ad Changes Mean To Marketers?
Well, everyone obviously loves to find a bargain, and as advertisers do more to stand out they use discounts and promotions to attract new customers. Further, the end-user wants to be able to easily redeem these offers anywhere, and this new addition to the Offers program makes that easier for them to do so.
As mentioned above, there are two types of offers (in-store and online), which can be shared in two ways: either promoted with an ad or organically with a post on the retailer’s Facebook page. Ads will appear in the Facebook feed by making use of the social networks targeting tools pushing the offer to those most likely to purchase.
Do the new Offers additions work?
While we need more data to determine the true viability of these ads, preliminary information points toward success. Testing the revamped ads, online retailer Maurices saw a 31% increase in return on advertising spend. By promoting a $15 discount, the retailer was able to capture a wider audience and turn those users into customers.
Facebook is also offering a new, dedicated offers tab that allows users to view current and past offers in a single location on the business page. Users can also access all of the offers that they have claimed by viewing their bookmarked offers. Additionally, Facebook will serve helpful notifications regarding offers that have been claimed but not yet redeemed by the user in order to push them further toward making the purchase.
In the future, Facebook will allow discrete codes for different users or groups so that a business can segment its followers. For instance, if a certain group is more likely to purchase high ticket items then the retailer would interact with them different regarding offers. The new Offers are currently available.
Check it out and let us know what you think!