💙 Introducing Our Favorite Facebook Findings
Welcome to Facebook Findings!
If you’re at all familiar with 9 Clouds, you know we take pride in staying up to date with all the latest digital marketing news. We even have dedicated specialists on our team who research each of our offered services.
But not everyone has the time or resources to keep up with all the announcements from Facebook. That’s why we’ve created this new quarterly blog series as a way to keep you informed of the most recent “must-know” Facebook findings that will affect your digital marketing strategy.
Let’s see what’s new with Facebook!
1. Campaign Budget Optimization Will Be the New Default
One of the biggest news stories to come from Facebook in recent months is that Campaign Budget Optimization will become a fixed default beginning February 2020.
This announcement is a pretty big deal, as it will affect how your Facebook campaigns spend their allotted budgets. In short, you will no longer be able to set a daily or lifetime budget at the ad set level of a Facebook campaign.
Setting Budgets Now
Setting budgets at the ad set level is great because it forces Facebook to spend in certain places determined by your ad set targeting. It also makes A/B testing more precise since your ads have the same budget and reach approximately the same number of people.
Setting Budgets with Campaign Budget Optimization
So what exactly is Campaign Budget Optimization? Launched a little more than a year ago, Budget Optimization is currently an optional way to control your budget at the campaign level rather than the ad set level.
When Campaign Budget Optimization is activated, you can control the overall daily or lifetime budget for a campaign (assuming you have multiple ad sets). Facebook will optimize and distribute your budget to the ad sets, giving more budget to the ad set Facebook determines to be more successful.
The announcement of Campaign Budget Optimization becoming default initially caused some anxiety among digital marketers, as it appeared to give you less control over your campaigns. However, Budget Optimization can simplify the ad creation process by eliminating the guesswork of distributing your budget among ad sets.
We’ve also recently learned that setting budgets at the ad set level isn’t going away completely.
After February 2020, you can still control spending at the ad set level by using ad spend limits. If you set a minimum spend limit, Facebook will try to spend at least that amount. And if you set a maximum spend limit, Facebook will not exceed that amount.
You can bet we’ll be keeping a close eye on Campaign Budget Optimization as these changes roll out over the next few months.
2. Relevance Metrics Have Replaced Relevance Score
Facebook wants your dealership’s ads to be successful. That’s why Facebook introduced ad relevance scores back in 2015 to give you an idea of how well your ads were performing on a scale of one to 10.
Fresh for April 2019, Facebook has replaced the single relevance score with three new metrics, which you’ll see soon (if you don’t already) in your Ads Manager.
As you’re monitoring your Facebook campaigns, look for these three new relevance metrics:
- Quality ranking
- Engagement rate ranking
- Conversion rate ranking
We dig into what each metric means in this blog post, but overall we agree that this ad relevance update will offer better insight into a Facebook campaign’s overall performance.Learn More About Relevance Metrics »
3. Ads Manager and Business Manager Are Getting a Facelift
In April 2019, Facebook announced it will be making improvements to the Ads Manager and Business Manager interfaces. Some users are already experiencing this simpler, more modern design.
Updates and improvements include:
- A streamlined navigation
- An integrated search and filter bar
- A new auto-naming feature
- Copy-and-paste functionality, which offers more flexibility when building ads
- A seamless process for agencies to onboard new clients in Business Manager
While the ads you create won’t look any different, we’re excited to see how this interface update affects the efficiency of the ad creation process!Read more about the ads manager update
4. We Launched a Report to Help You Gauge Your Facebook Ad Success
Do you ever look at your Facebook ad results and wonder how they compare to others in the automotive industry? Our 2019 Performance Benchmarks Report can give you the Facebook (and overall digital marketing) insight you need!
In this free report, you’ll find industry benchmarks for these Facebook ad metrics (and more):
- Cost per click (CPC)
- Click-through rate (CTR)
- Cost per landing page view
- Cost per Lead Ad
And that’s just the beginning. Our 2019 Performance Benchmarks Report is full of helpful benchmarks for a variety of digital marketing services.
Keep Up with Facebook (And 9 Clouds)!
Education is one of the five key tenets that make up our manifesto at 9 Clouds. It’s our hope that this blog series (and the rest of our digital marketing resources) help you build and refine your digital marketing strategy.
Need some extra Facebook ad support? We’re here to help! Learn about Facebook advertising with 9 Clouds.