By David Hill, Senior Product Manager, IgnitionOne
You have made a decision that marketing to Facebook’s 1 billion users should be part of your online marketing strategy. You may be asking yourself the question: When should I use Facebook Marketplace and Facebook Exchange and which is more appropriate for my marketing goals? With the recent release of Facebook Exchange and the initial findings suggesting that it is performing well for advertisers, there is a lot of interest in trying it. But don’t count Facebook Marketplace out as it may be more appropriate for your marketing goals.
Simply stated, the Facebook Marketplace platform allows you to target Facebook users that may not be as familiar with your brand, whereas Facebook Exchange allows you to remarket to Facebook users with data that you are already collecting on those visitors. Combined as part of your advertising strategies, the two work very well together.
What are the main differences between the two products?
Facebook Marketplace Ads
The Facebook Marketplace allows you to target Facebook users with segmenting options that Facebook provides, such as location, demographics, interests and connections on Facebook as well as more granular selections, such as which school a user attended. The two main types of Facebook Marketplace ads are Ads (voice of the business) and Sponsored Stories (voices of friends). Ads are branded and come directly from an advertiser. Sponsored Stories are posts from users about a brand that the advertiser can promote to the user’s friends. The ads can appear on the right side of pages and in the desktop and mobile News Feeds. They can appear in Sponsored Ads, Page Post Ads, Page like ads, in addition to Facebook Applications and Events.
Facebook Exchange allows you to bid in real time (through RTB) on placements that appear on the right side of Facebook.com pages. This allows approved Facebook Exchange partners to utilize their user intent data, their own optimization processes and campaign controls such as multi-touch attribution, view-through conversions, global frequency capping and day-parting to manage their campaigns. It is important to note that placements on the Facebook Home Page and within the News Feed, along with formats such as Sponsored Ads, Page Post Ads, Page like ads, Applications and Events are not available for Facebook Exchange ad placements.
Here is a reference guide of some of the differences between Facebook Marketplace Ads and Facebook Exchange: