Facebook Is Giving Their Advertising Metrics An Early Spring Cleaning
With these changes, the social media company hopes to enhance the understanding of its metrics and provide more effective measurement education for brands.
The most important word in Facebook’s overarching strategy this year: “meaningful.” Building on a very vocal commitment to build “meaningful communities,” the company is also updating its ad metrics to make way for more “meaningful ones.”
In a blog post, Facebook says it will introduce new labels that provide greater transparency when it comes to how ad metrics are calculated and do a bit of spring cleaning so marketers can more easily focus on the metrics that matter to them.
So, what exactly is changing?
New labels for ad metrics
Facebook will label certain metrics as “estimated” and “in development” within its Ads Manager reporting table. These will also be applicable to the customize column selector for ads running across Facebook, Instagram, and Facebook Audience Network.
The goal of the new labels is to offer greater transparency with respect to how these figures are calculated and help marketers better utilize them to track their efforts.
For example, “estimated” metrics are those based on sampling and modeling. These are often gathered quickly and are likely to be updated upon the collection of more data. This is largely due to the fact that their primary function is to “instantly model metrics at scale” as opposed to “precisely quantify outcomes.” Reporting reach is one case where this label would apply.
Similarly, metrics “in development” aren’t to be taken as comprehensive and all-encompassing, and are clearly being delineated as such with this update. These refer to cases in which an ad product or service is evolving, so feedback from businesses and consumers play a critical role in shaping what the metric actually means and how it’s measured.
Facebook notes that they will sometimes use both labels to describe a metric. Ad recall, for example, is both “estimated” and “in development” because they use modeling to create the metric and will also be polling partners about it.
Spring cleaning for ad metrics
Facebook also shared that in July, 20 ad metrics found by marketers to be “redundant, outdated, not actionable or infrequently used” will be removed. One of which includes the social reach metric deemed not “meaningfully different” from the typical reach metric.
By cutting down on the clutter, the company hopes marketers can walk away with more useful insights with which to boost their ad performance. The complete list of the metrics being removed can be viewed here.
A focus on education
Lastly, Facebook is looking to play an active role in the development of businesses’ broader understanding and application of measurements on the whole. To achieve this, the company is rolling out a program called “Measure What Matters.”
The educational program will feature two tracks, depending on whether the advertiser is focused on brand objections or direct response objectives. Insights on topics spanning creative planning, ad delivery, cross-channel measurement, and video measurement will be provided in a variety of ways such as in-person events, Facebook Live events, and content posted to the Facebook Business website.
For the latest on Facebook and data-driven marketing trends, join us at SMWNYC (April 24-27) at the Sheraton Times Square. Register your pass today.
Watch SMW Live
SMW Insider is a premium video platform that streams more than 180+ hours of talks, presentations, and interviews from leading industry experts.
Write for Us
Interested in sharing your ideas and insights with the world? Become a SMW News contributor and reach 300k readers each month.