ADOTAS – You may already know that Facebook Exchange (FBX) allows brands to tap into consumers’ online behaviors across the Web to deliver relevant ads on its platform. For example, when someone visits a page on a site like Neiman Marcus and views a Moncler vest, ad companies use this intel to deliver ads for the same product on Facebook, hoping to drive them to make a purchase. One FBX partner, Perfect Audience, just launched an ad platform called Perfect Product Retargeting (yes, it’s a mouthful) that lets retailers plug their Google Merchant Accounts directly into Facebook Exchange to show product-specific ads.
For smaller retailers, this offers a tremendous opportunity to reach potential customers on Facebook.
“There’s about 100,000 online retailers in the U.S., according to estimates,” said Brad Flora (pictured), CEO and co-founder of Perfect Audience. “While the top 500 account for the lion’s share of online sales, the rest of them comprise a large, growing market segment that shouldn’t be ignored. Perfect Product Retargeting, and specifically the fact that it lets you re-use your Google Merchant Account product data and has no minimum spend requirements, opens up dynamic FBX retargeting to those retailers.”
Currently the company claims it leverages real-time-bidding technologies across not only Facebook but several other display exchanges. Since Perfect Audience plugs into FBX rather than the Facebook Ads API, it is able to offer advertisers various demographic retargeting options. The company currently works with over 50 retailers, including ticket hub SeatGeek and shirt customization company Teespring. According to the company, one advertiser currently spends over $150K/month, resulting in an 8x return in investment.
“We’ve found that it also really appeals to larger retailers who want full control over their retargeting campaigns,” said Flora. “Retargeting has become a core component of every user acquisition strategy. As more brands bring that in-house, they look for software they can use rather than managed services.”
“The future of advertising is the present of advertising, but better,” added Flora. “Everything is going programmatic. Everything is moving towards a situation where impressions are ‘steered’ using first-party data of some kind, cookies, email addresses, device IDs. The last 10 years have been dominated by companies that provided unique inventory, like search results, as well as unique, proprietary data like keyword searches. The future of advertising will revolve around brands getting smarter and more organized about their data and using it to target their ads. Today that means retargeting. Tomorrow that will mean a whole host of things that resemble retargeting but have greater scale. We’re seeing the first peeks of that with the Lookalike targeting offered by Facebook and Twitter.”
The company’s staff is comprised of over 50% computer programmers and is currently focused on adding more exchanges and exploring more opportunities to help advertisers break out of the desktop-only ad model. Perfect Audience says it’s adding about 10 retailers a day and reports that its revenues increased 500% in 2013.