Unlock Facebook Advertising AI Tools to Reach New Customers
Have you ever wondered how to find new customers on Facebook or how you can use Facebook advertising to grow your business? Maybe as you scroll through advertisements on your feeds, you think, “Hey, this seems effective, but how does it all work, and how can I make it work for me?”
BizHack founder and digital marketing expert Dan Grech answered these questions and many more during a BizHackLive webinar. Keep reading to learn more about how Facebook’s advertising and artificial intelligence tools can turbocharge your lead generation campaigns.
TL;DR: Three Things To Know About Facebook Advertising And AI
Takeaway 1: Artificial Intelligence helps Facebook identify your target audience and improve your advertisement’s reach.
Takeaway 2: Facebook’s advertising AI works by applying the Power5 methodology to improve the distribution of your paid promotions on its platform.
Takeaway 3: We increasingly see a move toward machine learning and algorithms spearheading the advertising sector.
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Find New Customers on Facebook by Using AI to Boost Your Advertising Reach
Paid advertising effectively generates new leads that directly target potential audiences quickly and cost-effectively. By strategizing how you’ll advertise online, you can provide valuable content while boosting your referral rate. Once you layer in AI tools, you can take your paid efforts to an entirely new level.
Al consists of computerized algorithms that automate and improve the efficiency of business processes. When we talk about AI in advertising and audience generation, we are referring to the specific subset of AI called machine learning. Machine learning is where computers learn over time and update their processes accordingly. This differs from computer programming, a pre-built set of functions to which a computer must adhere. It’s the difference between a train following a pre-determined track and an autonomous vehicle that can make decisions in real-time based on information the sensors acquire. In the case of Facebook advertising, the algorithms themselves are self-learned by the computer and adapt to new information.
How Facebook AI Uses Machine Learning to Help You Advertise More Effectively
Facebook has integrated a series of easy-to-use artificial intelligence tools that make its advertising platform better at finding new customers. From campaign budget optimization to dynamic text and creativity, these tools are powered by machine learning to make it easier and more cost-effective for any business to find their ideal customer on Facebook, Instagram, and Messenger.
Before Facebook, Google Smart Campaigns began using AI for advertising purposes. Google would use copy from your website to create an ad optimized for language based on search data. But, kind of like using Google Translate, these ads lacked the nuance and human finesse of working with a professional marketing strategist. That’s why at BizHack we don’t recommend this route.
In its iteration of advertising and AI, Facebook copied many of Google’s best practices while adding new innovative improvements.
- Auto Advanced Matching
- Account Simplification
- Campaign Budget Optimization
- Automatic Placements
- Dynamic Ads
We want to break down each of these aspects so you can understand what’s going on behind the curtain.
Auto Advanced Matching
Auto Advanced Matching allows you to figure out your marketing strategy’s intended outcome quickly and then optimize and automate the process. If, for example, you want people to RSVP to an event, Auto Advance Matching uses algorithmic metrics to create an ad tailored to specific audiences deemed most likely to attend. Studies show that using this method provides an additional 8% chance of finding these “good fit” audiences.
You’ll interact with Auto Advanced Matching when you use the Business Manager platform to formulate your campaign objective. At BizHack, we recommend using the Consideration and Conversion Objectives. These objectives are recommended for anyone starting because they help you identify what kind of behavioral outcome you want to obtain from running your ad.
Account Simplification helps restructure already created ad accounts that are difficult for AI to translate. Facebook AI encourages fewer campaigns for optimization. Facebook claims its algorithms work most powerfully when you have 50 conversions per week. The more you can combine your campaigns into one, the easier you’ll be able to get to 50.
Campaign Budget Optimization
Campaign Budget Optimization was introduced last year on the platform. In the past, you had to assign budgets to each audience or ad set. Facebook now requires you to set the budget at a campaign level. The AI will then section off the budget according to which audiences most strongly respond to your ads.
You still control your total budget, but Facebook controls how it’s spent. The idea here is that algorithms bring down the cost per ad as you can run less of them in a more targeted manner.
Automatic Placements has profoundly changed the how’s of Facebook advertising. The parent company encouraged businesses to select where they wanted to post advertisements on Facebook, Instagram, Messenger, the Facebook Audience network, and WhatsApp).
With Automatic Placements, users now choose the kind of audience they want, and Facebook AI finds the best-suited platform. It’s a cost-effective way to find your new target audiences across platforms quickly.
Dynamic ads are like A/B testing—also known as Split Testing—but supercharged. You give them various materials (videos, photos, headlines, etc.), and then Facebook AI cycles permutations of this content through platforms to find out which combinations are most effective.
The Future of AI in Advertising
We increasingly see a move toward machine learning and algorithms spearheading the advertising sector. This can empower businesses and simultaneously force marketing agencies to rethink their roles in how marketing plans will be shaped and enacted.
At BizHack, we believe business owners must understand the array of options that help you best market your products and services. We hope this brief run-down has given you something to wrap your mind around as Facebook AI and other machine learning programs lead the way through new marketing territories.Want more tips? On Wednesdays, join BizHack Academy for our FREE #BizHackLive Webinars and hear experts discuss the latest and best small business marketing strategies. For a list of upcoming events, click here.