April 3, 2013
The changes, according to a Facebook Studio blog post, make it easier for advertisers to do two things: determine if their campaigns are meeting specific goals and calculate their return on investment.
Facebook made the changes in response to feedback from advertisers who use Ads Manager to monitor their Facebook campaigns.
“We know that marketers on Facebook have various goals,” reads the blog post. “Some might care about app installs, some might want new fans for their page, and some might want to increase people’s interactions with their posts. We are now helping marketers better identify what user actions drive their specific advertising goals.”
When creating ads in the ad create tool, advertisers can now choose from a number of advertising goals (see chart below) and Ads Manager will display the actions they choose more prominently in their campaign summary page.
“For example, if an advertiser says their advertising goal is ‘Get More Page Likes,’ the campaign summary page in Ads Manager will now show ‘Page Likes’ more prominently, and it will calculate ‘Cost per Page Like’ for your ads,” the blog says. “We’re giving advertisers the tools to more accurately track cost per action so they can better evaluate how their ads are performing against their goals and make appropriate optimization decisions.”
To simplify advertisers’ return on investment calculations, when an advertiser is using conversion tracking with an ad, he/she will automatically see the resulting conversions more prominently in Ads Manager. The advertiser will also see the calculated ‘Cost per Conversion’ for each ad. If the advertiser also assigns a value to each conversion in his/her tracking pixel, Facebook will then calculate the total ‘Conversion Value’ of all conversions for each ad.
The Ads Manager update is being rolled out globally over the next few weeks.