By now every business should understand the importance of advertising on Facebook. We spend a lot of time at unit36 developing content strategies for clients and running full Facebook funnel campaigns. In April this year Facebook are set to change things up a little with their metrics, their aim is to end relevance scores in replacement of new metrics.
It was announced on Wednesday that they will be replacing the relevance score with ‘more granular’ metrics. In addition to this Facebook also announced they would be removing 6 additional ad metrics and replacing them with ‘more actionable’ metrics.
What does this mean for Facebook ads?
As from April 30th the single score relevance metric will be no longer available. This will be replaced by the following:
- Quality ranking
- Engagement rate ranking
- Conversion rate ranking
Facebook Quality Ranking Metric
This new metric will measure and report on an ads quality in comparison with similar ads competing for similar goals from a similar target audience. This is a very promising new metric from Facebook as currently there is now way of finding out how your ads compare to other ads out there that are looking to generate the same results.
Facebook Engagement Rate Metric
Very similar to the quality ranking metric, this will rate the engagement of a given ad compared to ads competing for the same target audience.
Facebook Conversion Rate Ranking Metric
The conversion rate ranking metric will work in a similar way with regards to comparing ads targeting a similar audience with similar goals. However this metric will give you an idea of what to expect in terms of conversion rates when compared to similar ads, it gives you an idea of how your ad ‘should be’ performing.
Overall we’re very excited about these new metrics coming into play, it also helps that the new metrics are not a factor in the ads performance. Instead these provide vital insights into how changes to a given ad may impact their performance, very useful information.
Other Changes to Facebook Metrics
It doesn’t end there, in fact next month Facebook will be testing out 6 other new metrics: Offers Saved, Cost Per Offers Saved, Messaging Replies, Cost Per Messaging Replies, Mobile App Purchases ROAS and Web Purchases ROAS.
With an ever changing Facebook ads platform, from what I’ve read metrics is the main focus currently for improvement by Facebook, they are said to be constantly replacing metrics that are no longer used, with more effective metrics which should result in better performing ads. All in all these changes are great news for any Facebook marketers out there. If you are looking to start or need help with an existing Facebook ads campaign the team at unit36 are always here to help, get in touch for more information.