This week at the International Festival of Creativity Cannes Lions 2024, we’re introducing three products to help businesses grow, better engage with Threads, and spark creativity:
- An AI chat feature for businesses in Messenger, powered by Meta Llama 3, to help customers more easily purchase products and get support;
- New business messaging tools to create, organize, and send paid marketing messages in Messenger;
- The launch of the Threads API to enable businesses and creators to share new content at scale.
Our investments in AI continue to help drive business performance. As a follow-up to a previous study done with UC Berkeley in 2022, earlier this year we analyzed more than a million ad campaigns from advertisers in the US and found that for every dollar an advertiser spends with Meta, our ads generate , on average, $3.71 in revenue for your business. This represents a 12% increase in return on ad spend (ROAS) from 2022, meaning advertisers in the US alone earn approximately $180 billion in revenue annually from Meta ads.
Additionally, the same study found that when companies use our AI-powered Advantage products, they experience even higher ROAS. Campaigns set up to use the Advantage+ shopping campaigns tool generated an average of $4.52 in revenue for businesses per dollar spent on our ads. When advertisers who hadn’t previously used Advantage+ shopping campaigns turned on the product’s AI-driven targeting features, they saw, on average, a 22% increase in ROAS for our ads.
Driving performance with solutions powered by Generative AI
AI tools are helping companies improve customer service and discover new products that might interest them on our messaging platforms. We’re training AI, powered by Meta Llama 3, based on the most frequently asked questions businesses receive on Messenger, to understand and respond to customer product messages in an interesting and natural way.
Companies are already seeing results using this new testing feature. For example, when White Coat Manila, a hospital clothing company in the Philippines, used AI in Messenger, it was able to save about 20% on customer service costs and focus more efforts on growing its business with AI.
“AI for business messaging is a real game changer. The tool handles hundreds of basic questions from our customers quickly and accurately. This automation saves approximately 20% on customer service costs and significantly helps us focus more on growing our business,” said Franco B. Ongkingco of White Coat Manila.
Selected companies can start by sharing information about themselves and their product catalog in Meta Business Suite. These chats can be initiated through a “click to send message” ad, organically or via the “Send Message” button on the company’s Facebook page.
Customers always have the option to request a message with a human agent, and companies can also manually intervene in the conversation at any time.
We also recently began implementing enhanced generative AI capabilities for ad creatives, including image and full text generation, as well as introducing additional tools and services to drive business growth. And advertisers are already seeing significant performance improvements with these new features.
For example, Unilever’s Living Proof brand adopted Meta’s new generative AI text and image generation and saw a 15% reduction in cost per purchase (CPP), an 18% increase in total purchase volume, and a 13% click-through rate (CTR).
Press Healthfoods, by starting to use our new image and text generation capabilities with generative AI to promote greater creative diversity, was able to reduce cost per action (CPA) by 33%.
Reaching the Right Customers with Marketing Messages
We’ve heard from companies that sending news via Messenger and WhatsApp can be an excellent way to engage their customers, such as out-of-stock alerts, holiday discounts and more.
Today, we’re announcing that for the first time, select advertisers will soon be able to create, curate, and send paid marketing messages in Messenger using Ads Manager, to people who opt in to receive information from them.
This follows an update to our recent Conversations event, where we announced that businesses using Ads Manager will be able to send marketing messages through WhatsApp, can provide Meta with their list of subscribers and our AI systems will recommend the right subset of recipients based on on the most important results, such as helping convert leads or generating visibility for new products. We hope to extend these features to Messenger in the future as well.
Expanding Threads for businesses and creators
Threads is a growing space for people and businesses to connect. There are currently over 150 million monthly active users on Threads.
We’re launching the Threads API to help businesses and creators manage their presence on Threads at scale, making it easier to share exciting new content with their communities from their favorite third-party apps. Supported features include:
- The ability to authenticate, publish posts, and fetch your own content through the API.
- Management capabilities so businesses and creators can retrieve and interact with responses to their posts, set response controls, and hide or show specific responses.
- Media- and account-level insights such as number of views, likes, and replies.
We also recently introduced a new web experience that businesses and creators can customize their accounts to easily find inspiring content and share throughout the day. They can pin columns to their favorite searches or accounts, saved posts, notifications, and more; and update them in real time.
* Article produced by Nicola Mendelsohn, head of Global Business at Meta.
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