Check Out the Five Channels of Marketing for Help Understanding Facebook’s New Ad Performance Metrics
Social media marketing is essential for all modern businesses, so it’s important for business owners to stay up-to-date. Recently, Facebook has changed the way it measures the performance of ads placed on its platform. Business owners can read on to find out how these changes will impact their ads.
Changes to the Relevance Score
During its ad performance renovation, Facebook scrapped its old single relevance score. It has replaced it with new, more complex metrics that offer greater detail and more accurate performance indicators.
Now, instead of one performance metric to keep track of, business owners have three. They are quality ranking, engagement rate ranking, and conversion rate ranking.
The quality ranking metric is fairly straightforward. It ranks the ad’s performance according to its perceived quality compared to similar competitor ads that target the same audiences.
Engagement Rate Ranking
Facebook now offers more detailed information about consumer engagement with ads. This metric measures an ad’s expected engagement and compares it to rankings for competing ads.
Conversion Rate Ranking
For those who aren’t in the know about social media marketing, the term conversion rate refers to the rate at which casual browsers are turned into customers. Facebook now offers a metric that compares an ad’s expected conversion rate to others with similar audiences and CRO goals.
Facebook’s new relevance metrics make it easier for business owners to keep track of performance for individual ads on this popular social media platform. Access to this data can help them vary the broadness of their target audiences, track social media shareability of their content, and know when to change it up to prevent ad fatigue.
The Help Center
The Facebook help center has also undergone some changes. It explains the difference between the platform’s old single relevance score and its new relevance x3 rankings and even offers some insight into how business owners can interpret and act on their results.
The Next Step
Not sure what to make of all these changes even after checking out the help center? The best thing to do is to contact a professional from the Five Channels of marketing who can explain business owners’ options and help them take their online marketing in the right direction.