Facebook commerce platform Payvment found in a recent survey that more than 60 percent of its customer base of over 165,000 small and midsized businesses had not yet tried Facebook ads, with 25 percent of those citing lack of understanding how to use them, so it addressed that issue with today’s rollout of a one-click Facebook ad-buying service.
Payvment customers can access its standard promotions tool, and then edit the headlines and bodies of their posts, choose their budgets (which determines their ads’ estimated reach), click “promote,” and track their ads’ progress via the Payvment dashboard.
The company’s one-click Facebook ad-buying service uses a proprietary algorithm to predict which audience segments are likely to be most interested in a seller’s products, based on more than two years’ worth of social shopping data.
The algorithm addresses the biggest concern Payvment found in its survey among customer who had bought Facebook ads: Two-thirds of them were unhappy with their click-through rates and targeting. The company said its algorithm analyzes a seller’s inventory and shopper engagement patterns and combines that information with aggregate profile data from more than 40 million Facebook users who have interacted with its storefronts.
Founder and CEO Christian Taylor said:
Targeting Facebook ads can be a bit of a guessing game. It’s hard for sellers to know exactly which audiences will respond to their products. Since Payvment powers a majority of the shopping on Facebook, we see patterns that we use to create very effective targeting. No one else can do this. The small and midsized businesses that use Payvment have historically looked at Facebook ads as out of reach for their business — either they’re not clear on how they work, or they don’t want to spend money learning as they go. They can now use Payvment’s new ad offering to get started with very little effort or cost — in one click they’ve placed the ad, and Payvment does the rest for them.