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Facebook ads have new options for e-commerce and B2C businesses to improve their ad performance and improve ROI. These are the new value optimization tool and updated value-based lookalike audiences tool. Both of these tools draw on the capabilities of Facebook’s pixel of mining data about audience behavior and interactions which help businesses understand and optimize their targeting ads.
The update on value optimization tool can help marketers tailor their ads to “valuable users”. Facebook will determine which users are likely to make a purchase or download information from a particular company and identify which audience holds the highest value for the campaign.
On the other hand, the update on the value-based “lookalike audiences” tool will give marketers better way to grow their potential pool of customers by targeting users whose online usage history reflects or mirrors that of the pre-existing and high-value consumers. With this update, it will be easier for them to have their ads seen by their target audience or “valuable users”.
Although value optimization has just been introduced and will continue to be rolled out over the next few months, value-based lookalike audiences are available immediately for businesses to take advantage of since it has already been introduced four years ago.
Source: Wiltshire, E. (2017, June 14). Facebook Offers Value Optimization Ads and Lookalike Audiences. Retrieved from http://www.socialmediatoday.com/social-business/facebook-offers-value-optimization-ads-and-lookalike-audiences.