Facebook e-commerce platform Payvment has launched its one-click Facebook ad buying service to its social dashboard, says founder and CEO of Payvment Christian Taylor. The new feature enables advertisers to edit the headline and body of a Facebook ad and enter their budget, which then automatically generates an estimated reach for the ad. The user clicks “promote” to launch the ad.
“This is aimed to be full self-service for advertisers,” Taylor says.
Payvment’s targeting algorithm was designed to take the guesswork out of targeting Facebook Ads for sellers, Taylor says. “The feature instantaneously analyzes a seller’s inventory and shopper patterns, and correlates that data with profile data from the 40 million Facebook users who have interacted with any of the 165,000 brands advertising on Payvment so it can find the people most likely to be interested,” says Taylor.
Payvment is geared to small businesses and businesses just starting out that want to get their brand known but are working with small funds or may be overwhelmed by the perception of digital advertising as a complicated medium, Taylor says, adding that 37% of Payvment users advertise their products or services solely on Facebook via Payvment.
Payvement, which has been in operation for three years, is “looking to fill an advertising space for small businesses that Facebook has missed,” says Taylor.
“Google ads are usually the way small businesses go because Facebook doesn’t narrow things down enough for a small business — a scatter gun approach that can produce bad result,” he notes.
According to Taylor, 40% of Payvment users said in a survey that they had tried advertising on Facebook before but were not happy with the experience.
The minimum amount advertisers can enter in the one-click Facebook ad buying service is $6, Taylor says, and “the sky is the limit.”
