Facebook announced an update to its Ads Manager that will allow advertisers to better analyze their campaigns by drilling down into specific metrics, rather than just seeing an overview of all actions for those campaigns.
The updated Ads Manager matches advertisers’ specific campaign goals with users’ actions, such as focusing on likes and cost per page like for advertisers that seek to increase their page like totals, or zeroing in on event responses for campaigns based on events.
In the past, Facebook’s Ads Manager would show me a summary of all of the actions for my campaign. Now it clearly shows me engagement and cost per engagement for my ad so I can quickly determine if my campaign is performing well against my goal of increasing engagement.
Facebook also offered the example of game developers being able to automatically calculate cost per application install, rather than having to manually do so after downloading reports from the current version of Ads Manager.
The social network offered more details on its updated Ads Manager in the Facebook Studio blog post:
Today we’re announcing updates to Ads Manager to make it even easier for advertisers to see how they’re performing against specific goals and to calculate their return on investment. These updates address feedback we’ve heard from advertisers that use Ads Manager to monitor their Facebook campaigns.
We know that marketers on Facebook have various goals. Some might care about app installs, some might want new fans for their pages, 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 advertisers create their ads in the ad create tool, they can choose from any of the following advertising goals. Now Ads Manager will display the actions they care about most more prominently in their campaign summary pages.
For example, if an advertiser says its 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. 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.
Just like we are making it easier to focus on a marketer’s specific goals, we are also making it easier to calculate an ad campaign’s return on investment. If an advertiser is running ads to drive people to its website and is using conversion tracking with its ads, the advertiser will automatically see its resulting conversions reported back to it more prominently in Ads Manager. The advertiser will also see the calculated “cost per conversion” for each ad. Additionally, if it assigns a value to each conversion in its tracking pixel, we will calculate the total “conversion value” of all conversions for that ad.
Readers who advertise on Facebook: Will this update to Ads Manager be helpful to you?