Facebook has been busy shifting its focus to mobile. As one of the fastest growing advertising segments, it presents a prime opportunity for the company to launch new ad products and grow its revenue. Mobile makes up 76% of its total ad revenue at $2.9bn. Now, the social network has introduced a new format that allows mobile consumers to browse products on Facebook and buy them instantly.
Last year, Facebook launched carousel ads which gave marketers a chance to showcase multiple products. But the company says that when people click on ads, load times can still be long, resulting in many consumers dropping off. That’s why Facebook is now testing Canvas ads. In a blog post, Facebook reveals:
“After clicking on an ad, people will see a fast-loading, full-screen experience where they can browse through a variety of products, before going to the retailer’s website to purchase.”
Facebook starts testing Canvas ads
Facebook has already been testing Buy buttons, but the new addition makes it even easier to shop straight from mobile devices. Matt Idema, VP of monetization product marketing, Facebook, explains:
“The experience of shopping on mobile isn’t great. It’s hard for businesses to reach customers. Occasionally those shopping experiences have long load times, and there’s lots of stuff to check out. And we know that people are increasingly going to Facebook to look for and discover products on the platform.”
In addition, the company plans to add a new Shopping section as part of the More tab. People will be able to check out new products, and businesses can opt in to have their products featured in the Shopping tab. An algorithm configures the best products to showcase to an individual based on their liked pages and interactions on Facebook.
Facebook’s new Shopping section
Facebook says that all these featured are currently running in trial mode with a few select eCommerce retailers who are already trading on the site. Whilst mobile is a fast rising segment, consumers are still turning to their desktops to make purchases. It remains to be seen if Facebook Canvas ads can help shift consumer perception.