To understand Facebook's Marketplace Ads system, you first have to understand Facebook. You will see that there isn't much blanketing terminology on the site besides its Marketplace, which deals with four distinct categories of ads: Facebook Object, Page Post, Sponsored Story, and External Website ads. Of course, these ads all play together for the larger goal of boosting your business and your profits, but each much be handled individually.
Creating and Publishing Ads
Common sense in marketing would suggest that your first step in any campaign is thorough research of the market you're looking to target. But since these steps are geared more toward individuals who already have a grasp on marketing, that step will be assumed. So the first step in this process is creating and publishing your ads.
You have two main options here when creating and posting your ads; you can go through Facebook's self-service ad tool, which is simple enough to understand though not very feature-rich, or you can use a certified API management tool like Qwaya - a very feature-heavy, user-friendly management tool.
Now that you have a tool to help you create and publish ads, you need to decide which ad type you desire, either CPC ads (cost per click), or CPM ads (cost per thousand impressions). Obviously you may have a different goal in mind or want to approach things in a different way, but the market standard here is CPC - it's simply a better option for conversions.
The Four Ad Types That Make Up the Marketplace
These interactive ads are anything but traditional. These ads play well into the social context of Facebook, allowing users to like your ad and display it to their friends. However, these types of ads do require that you already have a fan base built. You can't launch these from the start and expect results. For more tips on what to think about when it comes to Facebook sponsored stories, check out this article.
A hybrid type of ad, a Page Post will help to drive engagement by transforming an element of your page into an ad. If you have videos, podcasts, photos, or any other type of element on your page, you can transform this into an ad that people can like and share. There are also limits on this type of ad: 120 characters if only text and 90 characters with an image.
This is the typical ad you find that drives traffic to an alternative site. This ad is usually placed on the right-hand side of the screen. Of course, there are limits to using this type of ad. You can enter a maximum of 25 characters in the title with 90 characters in the body, and the image can only be 99×72 pixels at the max.
With this type of ad, you are basically driving traffic inside of the Facebook network. It is essentially an External Website ad, but instead of pushing traffic off of the site, you are advertising to other areas of Facebook. Also, the ad's title will automatically be set as the name of your event, app, page, etc.
Understanding the parameters of the ads and where the different ad types go will help you to create and publish ads effectively. Using a tool like Qwaya, you can easily create and launch ad campaigns quickly and effectively.