Some Facebook advertisers temporarily saw a new metric called “returned value” in their Ads Manager dashboard. Facebook says the metric was accidentally displayed, and it has since been removed.
Marketing consultant Jon Loomer got a screenshot of the “returned value” metric along with Facebook’s description for the feature. Facebook defined the metric as “all returned value taken by people within 24 hours of viewing and ad or Sponsored Story in this campaign, or within 28 days of clicking on it. You’ll only see data here if you’re promoting a Page, event or app.”
This is likely a feature that will be rolling out to advertisers soon, but was not meant to go live for all users this week.
Returned value could end up being an extension of Facebook’s conversion tracking tool. Advertisers can already track conversion events, such as registrations or checkouts. Returned value might be a way for advertisers to keep track of the revenue they generate from those conversions.
Another option, which Loomer suggests, is that advertisers might be able to assign their own dollar values to actions such as page Likes, post shares, app intalls or event RSVPs. This is similar to what companies like Unified do to help advertisers understand the ROI and earned media value of their social campaigns.