Paid and Owned Media

What Marketers Need to Know from The Meta Performance Summit

In the ever-changing world of digital advertising, Meta is looking to keep marketers ahead of the curve. The recent Meta Performance Summit brought together industry leaders to discuss the latest advancements that will shape the future of advertising and empower businesses to optimize their ad performance.

Here are the three key takeaways from the event: 

Harnessing the Power of AI

When it comes to a consumer’s attention, every second counts. Meta highlighted their commitment to optimizing ad delivery with cutting-edge AI technology. While the delivery time remains unchanged, Meta has revolutionized its data infrastructure by leveraging larger, broader models while deprecating niche models. By enhancing their data warehouse and computing power, Meta ensures better algorithmic performance, elevating ad relevance, and enabling efficient transfer learning. 

One noteworthy example of Meta’s evolution is their Advantage+ product portfolio. Ovative was among the first to embrace and advocate for Advantage+ Shopping adoption across their retail clients. The results were substantial: clients who followed this lead experienced stronger ad serving capabilities and increased ad supply, ultimately leading to a 17% decrease in cost per acquisition (CPA) and a 32% boost in return on ad spend (ROAS). This emphasizes the importance of testing modern technology and being proactive to seize opportunities before they become commonplace. 

Within Advantage+ Shopping, Meta is rolling out enhancements that include the ability to control targeting by age and geography directly through the platform and via bid multipliers, uploading videos into catalogs with AI-driven decision-making, audience expansion, creative updates, and refreshed permissions for enhanced collaboration and local inventory.  

What Marketers Should Do Next

Brands that have not yet tested ASC+ (Advantage+ Shopping Campaigns) should start to test this tactic against business-as-usual (BAU) for performance campaigns. It’s not a one-size-fits-all approach and can be tailored to each brand’s unique goals. For advertisers who have already proven ASC+ as part of their evergreen strategy, testing bid multipliers or audience expansion can drive incremental impacts to Meta program performance. 

Embracing Comprehensive Measurement 

Traditionally, advertisers have relied on attributed results to demonstrate ad value. However, Meta’s shift in focus prompted a scorecard evolution. They now recommend leveraging multiple measurement tools, including attribution, media mix modeling, and incrementality testing, to gauge impact accurately. This shift resonates with Ovative who have been utilizing a comprehensive measurement approach for years, utilizing Enterprise Marketing Return (EMR) to drive growth for their clients. 

By relying less on last-click attribution (which Meta claims undervalues their ads by 47%) and running more tests (Meta quoted ~15 per year), advertisers can achieve 30% higher ad results. Embracing this mindset and investing in measurement, both in the short and long term, is crucial for maintaining innovation. Although testing might incur initial costs, it ultimately leads to significant savings and revenue generation in the long run.  

What Marketers Should Do Next

If incrementality isn’t part of your measurement approach, start incorporating it into your plans. Gaining insights into incremental impact will help unlock the true business impact of your brand. Meta’s measurement ecosystem is more robust than ever, and by working closely with their marketing science team on a Measurement360 approach, advertisers can gain a more holistic view of their program’s impact. To leverage multiple measurement models Ovative’s clients use MAP, an AI-driven measurement tool that unifies MMM and MTA and calibrates using incrementality testing to give marketers a clearer, timely picture of their holistic impact. 

Creative Is the New Targeting

While Meta leans into AI to inform targeting at scale, brands will need to lean in to creative to really impact how customers are consuming their ads. Creative diversification is as important as ever for brands to be able to reach new and existing customers in a way that resonates most with them. It’s key for brands to focus on what is meaningful to audiences and to tell stories around those themes. Creating and amplifying persona-driven ads will help build connections with potential customers.  

Creators and partnership ads are a big way for brands to leverage micro influencers to grow their existing audience – especially if a brand’s focus is on gaining traction within GenZ. GenZ spends 13x more time interacting with creator content versus brand content, which Meta has seen lower CPAs by 19% and drive a 53% higher CTR. Meta is building out a more robust marketplace to allow brands more seamless connections with creators to help lower the barrier to entry.  

Regarding advanced ad innovation, Meta introduced creative updates like converting static content to video, larger call-to-action buttons, and seamless browsing experiences within the app. These updates indicate the direction of future ad experiences. 

What Marketers Should Do Next

If your brand hasn’t started working with creators yet, it’s time to get started. Begin with upper or mid-funnel campaigns to identify which content resonates most with your target audience. As you explore diversified creative approaches, leverage these findings to develop a creative playbook that can inform future iterations. This will enable quicker execution and a more cohesive strategy across different objectives and audiences. 

Opportunities for Marketers

These key takeaways only scratch the surface of what Meta is rolling out. There were opportunities for growth and collaboration within site optimization, shops, creators, Reels, customer lifetime value, and offline outcomes. Embracing these avenues can unlock new possibilities for your business. 

Additionally, it’s crucial to note that Meta’s new products center around AI and automation, fostering collaboration, reducing friction, and offering creative opportunities. Ovative feels it’s essential to start testing and activating these valuable opportunities for our clients. Let’s work together to elevate advertising performance with the latest innovations at Meta. 

Lillian Smith

Senior Analyst, Paid Social

About the Author

Lillian is a Senior Analyst on the Paid Social team at Ovative.

Dale Nitschke

Dale Nitschke

CEO & Founder

About the Author

Dale is the Founder and CEO of Ovative. After years of operating a large omni-channel business and leading a customer data initiative, Dale knew there was an opportunity to create a marketing firm that helped clients become more customer centric and drove better performance outcomes. A gap existed between business consultancies and advertising agencies that modern marketing approaches demand. He also believed that a strong, healthy culture could attract and develop smart, talented team members. In 2009, he formed Ovative to bring media, measurement, and consulting together under one roof to enable an enterprise approach that drives more revenue and grows clients’ customer base.

Prior to founding Ovative in 2009, Dale spent 23 years at Target Corporation where he served as President of and grew the ecommerce business from start-up stage to a $1 billion+ business and established the foundation of Target’s Guest database capabilities. Previously he served as SVP Merchandising at the Department Store Division of Dayton Hudson. Dale has advised retailers and brands globally on business, growth, marketing, and measurement transformation strategies.

Outside of Ovative, Dale is a leader on topics including business strategy, change management, and team leadership. He serves on the board of Allergy Amulet and on the Dean’s Advisory Board of the Wisconsin School of Business at UW-Madison.  He enjoys spending time with his family, up north in northern Wisconsin, playing golf, and cheering on Wisconsin sport teams.

Seth Brand

Senior Manager, Consulting

About the Author

Seth is a Senior Manager on the Consulting team at Ovative.

Amanda McCann

Senior Manager, Consulting

About the Author

Amanda is a Senior Manager on the Consulting team at Ovative, specializing in Retail Media Networks.

Jenny Reinke

Senior Analyst, Measurement Solutions

About the Author

Jenny is a Senior Analyst on the Measurement Solutions team at Ovative.

Annie Zipfel

Executive Vice President, Media

About the Author

Annie is the Executive Vice President of Media at Ovative. She oversees delivery and growth across paid and owned media (digital, traditional, and retail media) and creative services.

Annie has more than 30 years of experience in media, brand management, insights/analytics, marketing, and product. She has also developed large, high-performing teams and built new measurement capabilities. Annie led the marketing team at Andersen Windows & Doors, leading the digital, social, content, customer insights, and creative functions. Prior to that, Annie served in multiple marketing leadership roles at Starbucks, REI, Target, and General Mills, with a keen focus on brand, media, insights, analytics, and measurement.

Annie is an industry leader in brand management, customer insights, e-commerce, social media, and analytics. She enjoys hiking, traveling, cooking, fishing, and spending time with her sweet dog and two sons.

Bonnie Gross

Executive Vice President, Talent Services

About the Author

Bonnie is the Executive Vice President of Talent Services at Ovative. She is responsible for attracting and retaining top talent and creating a culture in which our team thrives personally and professionally. Under Bonnie’s leadership, Ovative has defined an industry leading leadership and development program and transformed our approach to talent recruitment with a focus on diversity, equality and inclusion. Prior to her current role, Bonnie led Ovative’s Client and Business Development team overseeing client satisfaction and new growth opportunities.

Before joining Ovative in 2014, Bonnie spent 13 years at Target Corporate as the VP of digital and Digital Marketing where she led the launch of Cartwheel, an industry-leading social shopping application. Bonnie was the VP of Marketing for Fingerhut for 15 years prior to joining Target.

Leander Cohen

Analyst, Consulting

About the Author

Leander Cohen is an Analyst on the Consulting team at Ovative.

Will Silva

Analyst, Measurement Solutions

About the Author

Will is an Analyst on the Measurement Solutions team at Ovative.

Sarah Chang

Sarah Chang

Analyst, Consulting

About the Author

Sarah Chang is an Analyst on the Consulting team at Ovative.

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