Meta just dropped some news about some pretty interesting updates to their advertising platform. Check out the full ~6 min read here: https://www.facebook.com/business/news/campaign-optimization-updates
TL;DR
Meta acknowledges that all businesses are different and have different business objectives. Some want more volume of total conversions, while others want to increase the value of each conversion.
Meta will start to allow advertisers to optimize for new definitions of value such as profit or ‘predicted lifetime value.’
Meta will roll out a new feature called “Conversion Value Rules” which will allow advertisers to ‘tell’ the platform what type of conversion is most valuable to them.
Meta will introduce a new attribution model which tracks ‘incremental conversions’ or conversions that Meta believes would not have occurred without having the ad being shown.
Meta will introduce integrations with Google Analytics and Northbeam to share attribution data with the ad platform. They hope to expand to Triplewhale, and Adobe in the near future.
Using this additional attribution data, they plan to update the ad algorithm to take into account businesses that advertise on multiple platforms.
Based on this change, they expect to see businesses getting more Meta attributions but they expect CPMs to increase as a result.
I find this update to be really interesting. I like the idea of being able to ‘tell’ the platform what is most valuable to me as a business. I also think feeding more data to the platform via integrations with Google analytics can help ad performance in the long run. I do think some of these updates is a way for Facebook to ‘claim’ more attributions based on statistical modeling and predictions (i.e. incremental conversions and predicted lifetime value.)
What do you think?
