Facebook’s previous method of using a single relevance score has now been abandoned and replaced with three new methods of measuring the performance of your ads, which include: Quality ranking, engagement rate ranking and conversion ranking. This new ranking metric means you should rethink your social media strategy by concentrating more on your advertising reach.
FACEBOOK’S OLD SINGLE RELEVANCE SCORE HAS BEEN SCRAPPED
Fundamentally, Facebook previously utilised a lone metric system which gauged the relevancy of your ad to your target audience. Essentially, the more relevant your ad was to your target audience, on a numerical scale from 1-10 the greater the quality of the ad.
Facebook implemented an algorithm based on anticipated feedback of your ad, not actual feedback.
The four parameters Facebook used to rank relevance were:
– Anticipated Feedback
– Ad relevance and freshness
– Your audience definition
– The ad’s goal
However, the disadvantages of this method meant that businesses had to research their target audience first and then set the parameters to apply to their specific target market. Similarly, through this method there was no way to analyse if the target ad’s strategy was on track and was hard to determine if the relevant score correlated with producing the desired results.
As well as this, the relevance score didn’t take industry benchmarks into consideration which disadvantaged businesses that have lower benchmarks when it came to engagement.
SO, WHAT HAVE FACEBOOK CHANGED TO MAKE THE PROCESS SIMPLER AND MORE GRANULAR?
The beauty of Facebook’s new metric system is that you take appropriate action by pinpointing the areas of improvement from the diagnostic reports.
Quality Ranking: Analyse the quality of your ad compared to your competitors with the same target audience.
Engagement Rate Ranking: How your ad’s expected engagement is compared to your competitors with the same target audience
Conversion Rate Ranking: Anticipated rate versus other ads with the same conversion rate optimisation goal and target audience.
The diversity of each of the three new ad ranking metrics results in a more refined system. As a result, sales and marketing indicators will be more accurate. Like discussed above ads with higher relevance have a strong correlation with high performance, though applying only when you have chosen the correct optimisation for the campaign.
WHAT DO WE RECOMMEND IN RELATION TO YOUR FACEBOOK ADS?
Facebook’s new ad metric system means you may need to take a step back and review your ads to fit their new approach to maximise your return of investment.
Likewise, Facebook’s new tool provides a fresh insight to the areas of your ads that can be further optimised to achieve better results. In addition, look at the different metric indicators and analyse which areas need improvement – these should be the areas you want to focus on with regards to AB testing.
Reach out to our social media team if you need help to get the most out of your Facebook campaigns.