Facebook has launched new custom audience targeting over the last week specifically for retargeting users who have interacted on the Instagram Shop. New targeting capabilities allow advertisers to target users who have viewed a product, saved a product or initiated a purchase through the Shop. Brands will also be able to promote sales and discounts.
The launch of these new custom audience capabilities give marketers a new avenue to target lower funnel users with higher intent. This new custom audience targeting also allows for lookalikes to be created, a prospecting audience strategy in Facebook that serves to new people who may not have interacted with the brand previously.
In addition, Facebook is rolling out product tags on Instagram ads, that have only previously been available for organic ads. This will allow marketers to input price-tags on paid ad formats giving the user further information on the item featured in the creative.
How does this impact your business?
Instagram shops, which launched earlier this year, are ramping up in popularity and it’s more important than ever for e-commerce brands to be utilizing this platform. Instagram shops give brands an immersive storefront for users to browse products and purchase directly through the site or link to the website. Brands can also tag the product in a post which can come up on Instagram’s Shopping explore tab giving the opportunity to expose their products to users with high purchase intent. With the approach of holiday, the launch of these new audiences rolled out at the perfect time.