How relevant is relevant when it comes to advertising, exactly? Facebook is hoping to have the answer to this question with an update of its metrics.
The social giant is updating three of its ad metrics, focusing on improving relevance and reach as well as eschewing some of its lesser-used options.
The updated, more ‘granular’ ad relevance diagnostics, will focus on three areas; quality, engagement rate, and conversion rate. In other words, if your ad does not appear to have the same perceived quality as others competing for the same audience, or level of engagement, or brought about enough conversions, then it will struggle.
“When used together, ad relevance diagnostics will help advertisers understand whether changes to creative assets, audience targeting, or the post-click experience might improve performance,” the company noted in a blog post announcing the change.
Facebook had introduced its previous ad relevance score in 2015. At the time, it was judged to be ‘based on positive and negative feedback we expect an ad to receive from its target audience’. There was an element of obfuscation in the explanation, but factors included video view and conversions.
This is an important change to note as those who believe Facebook suffered a major downturn in the wake of various revelations would seemingly be wrong. According to Hootsuite’s 2019 digital report, Facebook remained the most popular social media network worldwide, gaining 37 million monthly active users. Barclays, in its report focusing on how market forces would shape adtech, noted the continued influence of the FAANGs (Facebook, Apple, Amazon, Netflix and Google) and how brands needed to stay close, but not too close.
The company will start to roll out the ‘relevance diagnostics’ in the coming weeks with the previous metrics being removed as of April 30. You can read the full post here.
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