Social Commerce

Facebook Commerce Provider Payvment Launches New Facebook Ads Product

Today, Facebook commerce platform provider Payvment will launch its own version of Facebook Ads specifically designed to take the guesswork out of running Facebook ad campaigns.

Rather than rely on Facebook’s social graph data alone, the Payvment version will pull from over 2 years worth of data accrued from its 165,000 merchant stores and 40 million Facebook users who have interacted with Payvment’s shopping cart system. It then uses that data to predict which types of users are likely to be interested in the seller’s products.

Here are a few key points:

  • The service is integrated into the company’s standard promotions tool; when sellers create a promotional post, they can now opt to reach beyond their fan base via a Facebook Ad.
  • The seller simply edits the headline and body of the post, selects their budget (which generates an estimated reach for the ad), then clicks “promote” to launch the ad.
  • Payvment automatically targets the ads for sellers by mapping their inventory and past shopper engagement patterns to data from 40M+ Facebook users who’ve interacted with Payvment.

A recent Payvment survey revealed that more than 60% of its sellers have yet to try Facebook Ads, with 25% saying its use is just too complicated. Of those who had tried them but weren’t satisfied, two-thirds cited low click-through rate or poor targeting as reasons not to use Facebook Ads again.

Payvment CEO, Christian Taylor, said that its version removes the need for the trial and error approach typically associated with running Facebook ad campaigns. There must be something to it, too, because initial tests of the service have shown up to a 25% increase in click-through rates over standard self-serve Facebook Ads, according to Taylor.

Payvment Facebook Ads