Facebook Launches New Standard Events, Ad Metrics
Here Are All the Details + What They Mean for Marketers
Facebook Adds Eight New Standard Events to Ads
In June 2018, Facebook launched Codeless Events Setup for Apps, a feature which helps marketers track how users interact with their business on mobile. By knowing what actions — or what Facebook calls "events" — a reader takes on the mobile app, marketers can more accurately determine the success of their advertising efforts.
More specifically, Facebook events are actions that can take place not just on mobile, but on site and in person, too. Standard events are what communicate these actions to the publisher, usually via a Facebook pixel, and also allow offline data to be uploaded after the fact.
Recently, Facebook launched eight new standard events:
- Customize Product
- Find Location
- Start Trial
- Submit Application
The platform said in an announcement that these new standard events were created because users take varied actions when looking at different types of content. For example, a user may click "find location" when looking for a car, but click "donate" when on a fundraising page. The new options for standard events should help marketers learn where most of their engagement occurs on site. Facebook also added two app-specific events: Ad Click and Ad Impression. Click here to read the full announcement.
New Metrics for Ads
Facebook also announced what they say is a new "holistic" take on ad metrics. According to the platform's announcement, cost metrics will "only report on interactions on a single channel with metrics that report on the cost of these actions across web, mobile, and offline."
This means Cost per Website Purchase, Cost per Mobile App Purchase, and Cost per Offline Purchase will be replaced with a single Cost per Purchase metric. The new metric will collect purchases across all channels. Users will still be able to figure out channel-specific cost metrics by dividing the amount spent by the number of conversions from the channel they're curious about. Click here for a more detailed breakdown of these metrics.
What These Changes Mean for Advertisers
These updates mean a few things for publishers and marketers alike. First, don't be surprised that these latest updates — particularly the new standard events — rolled out just in time for the holiday-shopping season. Second, count these latest changes as another step on the long hike Facebook has taken this year to improve ad transparency and ease of workflow for marketers. As publishers continue to diversify in light of Facebook's scrutiny throughout 2018, the social media giant wants to make sure it can do whatever possible to keep advertising dollars on the platform. In this case, it means increasing engagement opportunities and providing more instinctive metrics.
Still, don't forget there's still room for growth on Facebook. As you head into the ad world this holiday season, take advantage of Facebook's new standard events and metrics. Focus first on creating quality, distribution-friendly content, and then use ad dollars to leverage those articles into an effective ROI strategy.
At RebelMouse, we can help you optimize your ads on Facebook to squeeze the most out of every monetization outlet that makes sense for your site. You don't even have to be on our platform to use our traffic expertise. Request a proposal to get started.
Already on RebelMouse? Contact your account manager if you have questions about these updates and how they may affect you.