With the introduction of Meta’s new Advantage+ Shopping Campaigns, businesses and advertisers alike are looking for ways to successfully launch and manage this new campaign type. Advantage+ Shopping Campaigns leverage machine learning to optimize your audience targeting and create more efficient campaigns.
For some quick insights into the key elements of Advantage+ Shopping, check out our recap video! Read on for more details about how to set up your own Advantage+ Shopping Campaign and discover tips to increase its efficiency.
What is The Advantage+ Shopping Campaign?
The Advantage+ Shopping Campaign is Meta’s new initiative to simplify the setup process for conversion campaigns. It relies on the ability of the algorithm to provide you with better results as compared to setting up a manual campaign from scratch. Through the power of machine learning, these campaigns help to steamline performance goals, refine audience targeting, and simplify set up.
Setting Up An Advantage+ Shopping Campaign
Once you click on the option to choose an Advantage+ Shopping Campaign, you’ll notice that the campaign type automates most basic optimizations required to launch, such as the conversion event, pixel, and placement, unlike its manual counterpart.
The Advantage+ Shopping Campaign promotes a consolidated audience approach that makes use of both existing customers and new users. This consolidated audience approach breaks free from the traditional prospecting vs retargeting campaign setup that most advertisers adopt.
How To Get The Best Out Of Your Advantage+ Shopping Campaign
You have the chance to place a customizable budget cap for existing customers. This means that you can tell the campaign to spend only 20% on existing customers, for example. The idea is to give the campaign as many data signals as possible to optimize the campaign for better results.
Make sure to add existing customers under the reporting section. This option allows you to track performance at an audience level breakdown (i.e. new and existing), which will further allow you to optimize your bid caps to the audience type that is most profitable for your goals! Meta’s new campaign structure uses machine learning to identify and target your highest-value customers.
Additionally, Meta allows you to add suggested ads on the basis of past performance; therefore, you can import your best-performing ads into the ad set in just one go.
NetElixir’s Best Practices For Your Advantage+ Shopping Campaigns
It is our recommendation to run an Advantage+ Shopping campaign alongside your existing campaign structures (traditional manual campaigns) split out for different objectives for at least 4-6 weeks before adopting this campaign type completely across the account. Continually testing and gathering insights is imporant to creating a winning strategy.
Although dynamic product catalog ads (or DPAs) performed the best from a conversion standpoint for our test account, importing all creative options from the best-performing ads section gives Meta the leverage to drive creatives that resonate the most with different audiences.
We’d recommend adding as many customer lists as possible (e.g. email subscribers, past purchasers) at the account level. This gives Meta enough data to separate your existing customers from new ones. Adding customer lists to the account level also standardizes existing customers across all your new ASCs.
Although ASC allows you to place a budget cap to spend on existing customers, run a campaign with no budget cap alongside one with a budget cap for diversified results!
For the ASC campaign to learn faster, allocate at least 2X the average the budget you’d provide for your other campaigns.
Conclusion
Using Meta’s Avantage+ Shopping Campaign is a great way to help combat data loss in a post-iOS 14 world. Be sure to take advantage of the tailored setup, but simultaneously test it with a similar setup against your manual campaign to know what works best for you and your business!
Would you like an expert to go over your existing Meta strategy? Connect with in-house experts at NetElixir by booking a free consultation call!
Further Reading
- How Generative AI Is Disrupting Search
- How To Be Authentic In Your Social Media Strategy
- Your Social Strategy For The Cookieless Future
Featured image credits: Tada Images – stock.adobe.com
