There are new requirements for value optimization.
Meta recently expanded value optimization to include custom events and non-purchase standard events. Documentation on eligibility requirements, naturally, needed to be updated.
Here’s what you need to know…
The New Requirements
Value optimization, of course, allows advertisers to have the algorithm prioritize the value of events (Return On Ad Spend) rather than the number of purchases.
For such optimization to be useful, you need to pass a reasonable volume of unique values. If every purchase is the same value, there’s no benefit to this approach. But there might be if you sold products that could be $20 up to $500.
These are the new requirements for purchase events:
…has generated at least 30 attributed optimized click-through and/or view through conversion events with at least five distinct values, over the past 14 days.
And for all other (non-purchase) standard and custom events:
…has generated at least 100 attributed optimized click-through and/or view-through conversion events with at least five distinct values, over the past 14 days.
Regardless of the event, you need to pass at least five distinct values over the past 14 days. Only 30 attributed conversions are required for purchase events during that time to qualify, but custom events and non-purchase standard events require 100.
Why Might You Use This?
While it was nice to see Meta add value optimization for non-purchase events, these thresholds are rather high.
The key point to understand is that you still need to pass value with non-purchase events, and get volume from those events, for this to be an option. And really, it would normally mean that you’ve been using custom events or non-purchase standard events in place of purchase events all along.
There’s a decent argument for using events other than a purchase to book appointments or register for a virtual or in-person event. There are standard events for those actions, and you’d want to pass values if there is an exchange involved.
The key, again, is that you’d need to pass five distinct values over the past 14 days and generate at least 100 attributed events during that tie to qualify. It’s sure to be a rare situation where this would apply.
Another possibility might be that you apply value to funnel events like Add to Cart or Initiate Checkout, but I don’t know that this is necessarily what Meta had in mind.
Will You Use This?
I may be missing some obvious scenarios where this might be useful. How might you use this?
