Facebook has always been quick to roll out new features on a consistent basis, and May has proven to be no different. While every Facebook Ads update may not require its own spotlight, this month’s changes are steep enough to impact your ad results just in time for the summer season.
Whether you just got used to the old Facebook Ads platform, or you’ve been using the tool for years, the most recent update is easily adaptable and potentially performance enhancing. Check out these Facebook Ads update tips to help navigate the new layout and see what else is new for a summer of success.
As a marketing agency who has used the Facebook Ads platform for years, we can agree the design and user experience wasn’t Facebook’s strong suit. The new Facebook Ads update is designed to do more in less time with a streamlined workflow and updated design– YES. No longer are you frantically searching for your campaigns and ads. Much like Google Ads, they are now easily organized by Campaign, Ad Sets, and Ads with a trackable navigation.
The new interface also allows for improved campaign management, putting your mind at ease. The cleaner and more simplified design will allow you to focus on what’s important: Your ad performance. Pulling reports has never been easier with Facebook’s new seamless process and layout, enhancing your overall Facebook Ads experience.
New Cost Cap Bidding Option
Another notable feature is Facebook’s new Cost Cap Bidding. This strategy was designed to help maximize cost efficiency while driving volume in the business results you care most about. Sounds like a marketer’s dream, amirite?
Well, it seems they listened to their users and instead of focusing on maximizing conversion volume or cost predictability, they’ve added a bid option that both controls cost and drives volume. Whether the conversions you’re aiming for are purchases or installs, the cost cap maximizes cost efficiency by allowing you to set the maximum cost per optimization.
Ad Relevance Diagnostics
While ad relevance scores aren’t new to Facebook Ads, in 2019 Facebook rolled out a new set of relevance diagnostics with the intention of replacing the relevance score. These new diagnostics separate the relevance score into three categories:
- Quality ranking
- Engagement rate ranking
- Conversion rate ranking
Rather than merely showing the success or failure of your ads, the new relevance diagnostics help you understand the wants and needs of your target audience. According to Facebook, these rankings will ultimately help advertisers understand whether changes to creative assets, audience targeting or the “post-click experience” might improve performance.
For small businesses who may not have the time or budget to master marketing, this Facebook Ads update may help remove some of that burden. Automated Ads takes the guesswork out of creating effective ads by simply answering a few questions. The Facebook Ads team takes your information and creates a customized marketing plan for you.
While we would advise you to hire digital marketing experts – like us – to build your Facebook campaigns, this is a good option for small businesses with a tight budget and simple goals.