Marketing
19 May 2023
Meta tests promotional ads to help lead users to deals
The Facebook and Instagram parent is also making updates to lead ads.
(Photo courtesy of Meta)
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Meta is testing a new promotional ad format that are designed to help people find deals from brands.
Through this pilot, select advertisers on Facebook in the U.S. and UK will receive access to features that allow them to find, apply and manage deals. Promotions can be offered for seasonal sales, first-time purchase discounts and holiday promotions.
Meta offers this example of how it works:
“When people see an ad with a special promotion on Facebook, they can click through to claim the offer, which will automatically apply the discount code. If they don’t complete the purchase, they will receive a reminder notification before the deal ends,” the company wrote.
Meta found that 85% of shoppers seek out promotions before making a purchase. The new ads aim to make it easier to find deals, while in turn enabling brands and retailers to complete more sales. The ads also arrive at a time when consumers are more price-conscious following months of inflation and interest rate hikes that is giving way to a pullback in discretionary spending.
Lead ad updates
As Meta learns more through testing, it will consider adding features in the coming months.
The promotional ads arrive as Meta is also making upgrades to its lead ad products. Through this update question-and-answer forms can be automatically updated based on responses.
“For example, an educational institution can ask questions, such as, “What degree are you interested in?” Based on that answer, the subsequent questions would dynamically update to guide the person to more information about a specific program,” Meta writes.
Advertisers will also be able to soon overlay Instant Forms. Users will be able to engage with rich media on business pages, then submit information with autofill capabilities for names and email addresses.
There’s also a new step that businesses can take before setting up a lead ad campaign. Businesses using Meta’s new pages experience will also be able to add a contact form to the “Contact Us” button on their Facebook page. This allows people to inquire about a business and start a conversation through Messenger.
“These questions and forms give people a more tailored discovery and consideration experience for products and services they may be interested in, and help businesses find more qualified customers,” Meta wrote.
The updates come a week after Meta rolled out a new AI Sandbox that will allow the Facebook and Instagram parent to test generative AI features for advertising.Subscribe to The Current Newsletter
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Marketing
09 June 2023
'There's a lot of ways to frame value'
Campbell Soup Company CEO Mark Clouse offered thoughts on messaging amid inflationary shifts in consumer behavior.
Photo by Kelly Common on Unsplash
After months of elevated inflation and interest rate hikes that have the potential to cool demand, consumers are showing more signs of shifting behavior.
It’s showing up in retail sales data, but there’s also evidence in the observations of the brands responsible for grocery store staples.
The latest example came this week from Campbell Soup Company. CEO Mark Clouse told analysts that the consumer continues to be “resilient” despite continued price increases on food, but found that “consumers are beginning to feel that pressure” as time goes on.
This shows up in the categories they are buying. Overall, Clouse said Campbell sees a shift toward shelf-stable items, and away from more expensive prepared foods.
There is also change in when they make purchases. People are buying more at the beginning of the month. That’s because they are stretching paychecks as long as possible.
These shifts change how the company is communicating with consumers.
Clouse said the changes in behavior are an opportunity to “focus on value within our messaging without necessarily having to chase pricing all the way down.”
“No question that it's important that we protect affordability and that we make that relevant in the categories that we're in," Clouse said. "But I also think there's a lot of ways to frame value in different ways, right?”
A meal cooked with condensed soup may be cheaper than picking up a frozen item or ordering out. Consumers just need a reminder. Even within Campbell’s own portfolio, the company can elevate brands that have more value now, even if they may not always get the limelight.
The open question is whether the shift in behavior will begin to show up in the results of the companies that have raised prices. Campbell’s overall net sales grew 5% for the quarter ended April 30, while gross profit margins held steady around 30%. But the category-level results were more uneven. U.S. soup sales declined 11%, though the company said that was owed to comparisons with the quarter when supply chains reopened a year ago and expressed confidence that the category is seeing a longer-term resurgence as more people cook at home following the pandemic. Snacks, which includes Goldfish and Pepperidge Farm, were up 12% And while net sales increased overall, the amount of products people are buying is declining. Volumes were down 7%.
These are trends happening across the grocery store. Campbell is continuing to compete. It is leading with iconic brands, and a host of different ways to consume them. It is following that up with innovation that makes the products stand out. Then, it is driving home messaging that shows consumers how to fit the products into their lives, and even their tightening spending plans.
Campbell Soup is more than 150 years old, and has seen plenty of difficult economic environments. It is also a different business today, and will continue to evolve. At the end of the day, continued execution is what’s required.
“If it's good food, people are going to buy it, especially if it's a great value,” Clouse said.
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