Value optimization for any non-purchase event?
It’s coming, assuming you don’t have it already. Here’s what we know…
The Announcement
In a recent announcement about updates to conversion tools, Meta shared this:
If an advertiser cares about ROAS based on the value of events outside of a purchase [expanding globally]
Optimizing for Value allows advertisers to get the delivery algorithm to prioritize Return On Ad Spend, rather than simply the volume of purchases (Maximize Value vs. Maximize Number of Conversions).
But when optimizing for Value, advertisers have been required to use the Purchase standard event. Meta acknowledges that some advertisers assign value to events other than a purchase. They could use custom events or other non-purchase standard events.
Because of that, Meta says:
…we have introduced ways to optimize for ROAS with non-purchase event values and are expanding it globally. Advertisers can now use the ‘maximize value of conversions’ performance goal across any event they wish…
Do You Have It?
In the video above, I was able to show that I was able to set up Value optimization for custom events. Since recording the video, that’s no longer the case. There’s a reason why, and I’ll cover that in a future video.
Note that Meta also announced the expansion of Value optimization to focus on profit margins instead of Return On Ad Spend. Learn about that here.
Do you have the option to optimize for value using any non-purchase event? Will you use it?
