The LATEST Facebook Ad Updates in 2024

Summary

Chase Chapel shares insights from Meta's 2024 marketing trends event, emphasizing the importance of account simplification and leveraging AI for creative generation. He highlights the success of Advantage Plus placements in the US, the benefits of creative diversity, and the use of AI for ad copy and image generation. Chapel also discusses the challenges of attribution post-iOS 14 and Meta's efforts to provide clearer insights into conversion tracking.

Takeaways

• 📈 **Account Simplification**: Reducing the number of campaigns and ad sets can improve algorithmic performance by focusing ad spend on the most effective placements and audiences.
• 🌐 **Advantage Plus Placements**: Utilizing Advantage Plus placements can optimize media across multiple platforms, potentially increasing ROI and reducing costs based on historical data.
• 🛍️ **ASC and Media Mix**: Including Advantage Plus Shopping Campaigns in your media mix can lead to an average 17% reduction in cost per conversion and a 32% increase in ROI.
• 🎨 **Creative Diversification**: Experimenting with various creative formats and concepts allows AI to connect with a broader audience, improving ad performance.
• 📹 **Video Creatives**: Vertical videos with audio in the safe zone, especially Instagram Reels, are effective formats that can significantly boost conversion rates and lower costs.
• 🤖 **AI in Advertising**: AI is increasingly important in ad creation, with tools like 'prompt whispering' enabling real-time image generation based on textual descriptions.
• 📝 **AI-Generated Ad Copy**: The AI tool can suggest ad copy based on successful ad creatives from other accounts, offering insights that can improve your own ad performance.
• 🔍 **Attribution and Tracking**: With changes like iOS 14 impacting tracking, Meta is introducing tools to help advertisers better understand and attribute conversions accurately.
• 📉 **Misattribution Issue**: There is a significant misattribution of conversions across channels, with up to 39% being incorrectly attributed, affecting the understanding of true ad performance.
• 📚 **Learning and Applying**: Understanding the information is one thing, but actively applying it in ad accounts is crucial for leveraging the insights gained from events and tools.
• 💼 **Mentorship Opportunities**: For personalized guidance, mentorship programs are available to help scale ad performance and achieve significant business growth.

Q & A

What is the main focus of the video by Chase Chapel?

The main focus of the video is to provide insights and updates on the latest marketing trends in 2024 from Meta's platform, specifically focusing on paid ads and strategies to grow business on Facebook and TikTok.

What does account simplification involve according to the video?

Account simplification involves reducing the number of campaigns, ad sets, and changes to allow Meta's algorithm to optimize ad spending on placements, audiences, and creatives that maximize performance.

What is the significance of Advantage Plus placements mentioned in the video?

Advantage Plus placements allow marketers to use existing creative across multiple platforms like Instagram Feed and Stories. It optimizes media through real-time learning and is particularly effective in North America, often leading to improved results for clients.

How does Advantage Plus work with high-performing creatives?

Advantage Plus identifies the top 5 to 15 high-performing creatives from an account's recent performance data and uses these to target new audiences and retarget previous ones, aiming to improve campaign results.

What are the benefits of using Advantage Plus campaigns as mentioned in the video?

Using Advantage Plus campaigns can lead to a reduction in cost by 17% and an increase in ROI by 32%, as it optimizes the media mix and creative placements based on historical account performance.

Why is creative diversification important in marketing according to the video?

Creative diversification is important because it allows marketing to speak to different types of customers with varied reasons for purchasing a product. It involves using a variety of creative formats and concepts to reach the right audience with the right ad.

What role does AI play in the marketing trends discussed in the video?

AI plays a significant role by enabling features like generative text and image tools that help in creating and optimizing ad creatives. It also learns from successful ad creatives to provide better recommendations for future campaigns.

What is 'prompt whispering' and how is it used in the video?

'Prompt whispering' is a process where Meta's AI tool is used to generate images based on textual prompts. It's used to create demonstration or storyboarding visuals for ad creatives, allowing for real-time adjustments and ideas generation.

How does the generative text AI tool work, and why is it beneficial?

The generative text AI tool works by suggesting ad copy based on successful ad creatives from other accounts. It's beneficial because it provides insights from high-performing ad copies, potentially improving the overall account performance.

What challenges does the video address regarding attribution in ad campaigns?

The video addresses challenges in attribution caused by iOS 14 changes, which have made it harder to track conversions accurately. It discusses Meta's tools and strategies to reassess and balance conversion attribution, ensuring a better understanding of where conversions are truly coming from.

What is the conclusion or key takeaway from the video regarding marketing on Meta's platform?

The key takeaway is the importance of applying known strategies such as account simplification, leveraging AI for creative generation, and understanding attribution to improve marketing performance on Meta's platform.