On March 22, Goksu Nebol-Perlman, Meta’s VP of Product Marketing, Ads and Business Products, announced that Facebook’s ads platform had new automation and machine learning tools. This new ad service called Meta Advantage brings together automated ad products. Through automation, advertisers can set app-install ad campaigns and create ‘lookalike’ audiences using Meta’s artificial intelligence. These lookalike audiences are based on the internet behavior and other factors of existing customers of brands.
“This move is in line with the industry’s desire for a more fully integrated tech stack that gathers all actionable data on one platform for more automated and efficient mobile growth," said Simon “Bobby” Dussart, CEO of Adjust
“This move is in line with the industry’s desire for a more fully integrated tech stack that gathers all actionable data on one platform for more automated and efficient mobile growth," said Simon “Bobby” Dussart, CEO of Adjust, a mobile marketing analytics platform, referring to Meta’s new automation.
More than 10 million advertisers run ad campaigns through Meta. Privacy regulations make it harder to collect data online so advertisers need to lean on machine learning models and aggregated data sources that do not do much to identify individual users.
Nebol-Perlman said that the automated upgrades would assist in ad targeting and lower the costs on ads. “If Advantage Detailed Targeting finds better performance opportunities outside your defined audience,” Nebol-Perlman wrote in a blog post, “the product makes dynamic updates to attempt to optimize those performance opportunities by expanding your audience.”
Meta’s platform looks for audiences beyond the defined targets that marketers have already brought to the platform. The automated targeting has led to “37% lower median cost per incremental conversion than when not used,” Nebol-Perlman said.
Meta was already using automation to power their app campaigns and decide where the ads needed to be placed, both on Facebook and Instagram. There are cosmetic changes in Meta’s platform, which already was offering automation. They fall under the Meta Advantage and Advantage+.