At Meta’s Performance Marketing Summit in Toronto yesterday, the company introduced their suite of business tools designed to help marketers lead effective campaigns using AI to power marketing success.
Some of the tools featured at the Summit include:
Meta Advantage, AI-powered automated business tools, the company says will help marketers optimize each ad impression to deliver successful results. The suite of tools includes Advantage+ Shopping Campaigns, also known as ASC. Meta says this is one of the fastest growing ad products in the history of the company, and that AI is central to its success. Marketers can use ASC to automate ad campaigns, from setup and creative to the placement of their ad.
Case Studies Showing the Power of Advantage+
At the Summit, Meta offered a case study of the luggage brand, Monos, which saw a a 58% decrease in incremental cost per purchase using the Advantage+ shopping campaign. Monos also saw a 35% increase in incremental return on ad spend with their Advantage+ shopping campaign. The company also shared a case study from the jewelry brand, Jenny Bird, which saw a 14% lower cost per purchase compared to its usual campaigns alone, and 17% higher conversions.
Future Testing of AI Tools and Opportunities
As Meta continues to explore early versions of generative AI tools and features, they’re promoting the AI Sandbox – a testing playground for AI-powered ad tools. A company spokesperson explains:
“To start, we’re building tools like text variation, background generation and image outcropping to do things like make an ad’s text more engaging or improve parts of its creative.”
AI-Driven Discovery Engine
Meta also showcased their newAI-powered discovery engine which they say will deliver a more personalized social experience across the company’s platforms.
Short-form video continues to be a preferred content type to drive engagement with people re-sharing Reels more than two billion times every day. Meta’s spokesperson added:
“Since we launched Reels, we have seen more than a 24% increase in time spent on Instagram, and over 40% of advertisers are already using Reels ads. This growth can be attributed to our discovery engine, which is powered by AI, ensuring people are seeing content that aligns with their interests and that provide an engaging experience.”
As Meta continues to develop AI features, Human Driven AI will monitor new opportunities for marketers to improve campaign performance through AI.
Embracing generative AI is critical for brands that want to succeed in the ever-evolving digital landscape. Stay tuned for more updates. If you’d like assistance training your marketing teams on how to infuse AI tools in their campaigns, contact me today.