Facebook recently announced they’re getting rid of their Relevance Score metric. Traditionally, advertisers have relied on the figure to understand how well their ads resonate with consumers, but after April 30th, no more Relevance Score for you.
What’s this mean for marketers? Well, beyond just giving advertisers a score of 1 to 10 to help them understand an ad’s relevance, Facebook also discounts ads with high Relevance Scores and charges more for ads with low Relevance Scores. So the change could end up hitting you right in the budget.
Relevance Score’s impact on pricing may leave some marketers panicked, but where Zuckerberg and crew are taking away one metric, they’re giving us three new ones that they claim will really get your pixels firing.
First, Quality Ranking will help show how viewers perceive the quality of an ad relative to ads competing to the same audience.
Next, Engagement Rate Ranking will show if people are engaging with your ads relative to ads competing for the same audience.
And finally, Conversion Rate Ranking will measure how your ad’s conversion rate compares with ads that compete for the same audience and that have the same campaign goals.
Facebook says, “When used together, ad relevance diagnostics will help advertisers understand whether changes to creative assets, audience targeting or the post-click experience might improve performance.”
While the ad diagnostic metrics may help marketers better judge ad performance, they won’t be inputs in Facebook’s ad auction. This implies that you might actually lose any discounts you’re currently getting due to Relevance Score starting on May 1st.
We wanted to talk to someone who has spent a lot of money growing brands using Facebook’s advertising platform to see what they think about the new and improved metrics and how it may affect marketers.
And so we sat down to talk with Zach Grove, the Channel Marketing Manager at Drip, to see if the changes to will help or hurt his efforts to grow the venture-backed startup in an extremely competitive B2B software space.
(Make sure you watch the episode above to catch the interview).
What do you think of Facebook’s new measurement changes? Will you be happy to see the new metrics or will you miss Relevance Score? Which Facebook metrics actually matter most?
Share your thoughts with a comment and you might just win yourself some new Brandish Insights gear.