Facebook updates its ad metrics to help advertisers to holistically evaluate their ad performance to take into account how customers interact with their business across different platforms and channels and the impact of those interactions on business.
To achieve this, Facebook is replacing cost metrics with a single “Cost per Purchase” metric. Unlike cost metrics that report on interactions on a single channel, this new metric aggregates and collectively report purchases across all three channels, i.e. web, mobile and offline.
With this update, Cost per Website Purchase, Cost per Mobile App Purchase and Cost per Offline Purchase metrics will now be combined into the new single Cost per Purchase metric.
If an advertiser still wishes to calculate a channel-specific cost per metrics they can do so by dividing their total spend by the number of conversions from the channel of their interest, says Facebook.
The customize column selector in Ads Manager has also been redesigned to consolidate website, mobile and offline metrics.
Previously, for a holistic measure of purchases across these channels, advertisers had to select three metrics separately. Instead, advertisers now can get this reporting by selecting one metric, the company wrote.
“People interact with businesses across different platforms and channels, so it’s important to evaluate ad performance holistically to account for all the ways people may have interacted with your business and the impact those interactions had on your business results. That’s why we’re replacing cost metrics that only report on interactions on a single channel with metrics that report on the cost of these actions across the web, mobile and offline,” Facebook said explaining the intent behind this change.
In addition to updating ad metrics, Facebook is also rolling out more new ways to help businesses better understand customer engagement with their business both online (across the web, app) and offline.
Facebook has long offered standard events via the Facebook pixel, the Facebook SDK with App Events and the ability to upload offline conversion data. Today, the company is adding eight new standard events, enabling to know the actions user take on their website, in-app, or at the store.
These standard events include “Contact, Customize Product, Donate, Find Location, Schedule, Start Trial, Submit Application and Subscribe.”
In addition, to these eight new standard events, Facebook also introduced two app-specific events, “Ad Click,” and “Ad Impression.”
These two events “help apps that monetized with ads understand how people coming to their app from Facebook are engaging in-app.” said Facebook.
“Events are actions that happen on a website, in-app or in person. While, standard events are a structured way of communicating these actions to Facebook so they can be used to inform ad targeting, optimization and measurement solutions.”