Facebook advertising updates happen constantly, and you may only find out about them once they’re already old news.
However, Facebook and Meta’s complete family of apps, including Instagram, WhatsApp, and Messenger, are instrumental to an advertiser’s capabilities and campaign results.
To make things easier on you, we compiled a list of the most exciting and important updates, along with some must-know information to help you have better results in 2023.
5 key Facebook advertising updates to know in 2023
1. Meta Business Suite will help you become a more effective marketer
If you’re a professional advertiser on the platform, this one should come as a no-brainer. The Meta Business Suite is a complex platform, but it has all you need to be an effective marketer.
Here’s some of what you can do with it:
- Post across platforms, including Facebook, Instagram, and Messenger
- Create ads
- Track insights and trends
- Access tools like Commerce Manager and Ads Manager
- Manage your inbox
Don’t get overwhelmed by the depth of the platform. Consider taking free courses through Meta Blueprint to learn how to leverage and maximize all available to you through the Meta Business Suite.
2. Use recurring Messenger notifications to get repeat customers
Just because your ad has ended (and you got the sale) doesn’t mean you want to lose that customer.
That’s why Meta released a recurring notification feature that lets you send personalized, automated messages to customers through Messenger to alert them of promotions, new product releases, sales, and major business updates.
Keep in mind that customers can opt out of reoccurring messages, but if they don’t, it can be a great way to improve your advertising ROI.
3. Improve ad performance with Meta’s “Performance 5”
If you haven’t heard of “Performance 5,” this is one of the Facebook advertising updates that can help you have better-performing ads for less.
Meta says that by making the following five changes (that they’ve collectively deemed Performance 5), advertisers can see improved results:
- Simplified ad sets: Consolidate your ad sets to increase conversions.
- Broad targeting: Meta says that broad targeting (instead of interest targeting) can help you reach more people and get more customers.
- Mobile-friendly video: Videos ads that have been optimized for mobile drive more conversions for less.
- Ad testing: A/B testing lets you refine your advertising and learn what works the best with your audience
- Conversions API: Connect the Conversions API to Shopify or Wix for more accurate ad results
4. Get more leads with Meta’s new acquisition tools
This Facebook advertising update is one that small- and medium-sized businesses will want to know. Meta introduced new acquisition tools for lead generation that will help you find new customers and nurture relationships.
Most notably, you’ll be able to offer gated content that requires the user to fill out the Lead Ads instant form without having to direct them to your website. This means that you can easily collect email addresses, phone numbers, and other customer information to further your marketing and advertising results.
In addition to this, you will be able to filter leads to find the ones that are the best fit for your brand. This will be done by a multiple-choice questionnaire that helps weed out those who aren’t in your target market.
5. Choose threshold or net 30 for Facebook billing
When you run ads for Facebook and Instagram, all invoicing is stored within the billing section. With Facebook Advertising, you have a variety of ways to handle billing.
- Billing threshold: This billing process informs the system to bill you when you’ve reached a certain amount of ad spend within your ad account. Facebook can choose the threshold amount for you or you can set it. This would work well with minimal client accounts associated with your ad spend, but it becomes complex when you have to break down payments by the client.
- Monthly invoicing: This invoicing process is the most common, but it is not Facebook’s default approach. Monthly invoicing secures a specific day of the month to pay all pending invoices within your ad account. You can also separate charges by the client and grant your billing manager access without sharing passwords. Additionally, if you’re managing more than one ad account, you will receive a monthly invoice for each account.
This goes without saying, but never share your passwords. Ever. Use a third-party password protector platform or provide people access properly through Facebook Business Manager, but do not put your brand’s security at risk by sharing passwords.
- Net 30: The option to have your billing released at Net 30 is a newer option considering client payment terms. If you’re unfamiliar with the term, Net 30 means you can pay your balance 30 days after the purchase. Considering that some businesses and clients make payments to advertisers with net 30 terms, Facebook is now honoring the same structure.
- This billing method is not available to everyone. Facebook will notify you via email to inform you if your account is eligible, and they will provide you with a credit threshold that you can use within your net 30 terms. If you qualify, be sure to activate this billing method.
Facebook sends email communications to ad account admins. Communication often goes to the email associated with your ad account. Do not ignore those emails, and check your spam periodically.
With the constant changes happening within the world of social media, don’t get discouraged or frustrated by Facebook advertising updates. Instead, study the differences and adapt with an open mind. Happy learning!
Need help creating persuasive ad content for Facebook or other social media platforms? Talk to a content specialist at ClearVoice today.