Go to your Advertising Settings. If you have this, you’ll see Value Rules in the top section.
This could be a really interesting update. Let’s take a closer look…
What Are Value Rules?
When you click to create a value rule, Meta will provide a brief overview of how Value Rules work.
You can create rule sets to increase or decrease your bid for specific audiences based on age, gender, location, and mobile operating system. This will apply to conversions only. You can create up to 10 rules.
For advertisers who have heard of bid multipliers, this is a similar concept. Bid Multipliers was available to a very small number of advertisers and usually required access via an ad rep. Value Rules, however, is much easier to set up and manage.
Example
An example would be increasing your bid by 20% for people between 25 and 44. Or you could just as easily decrease your bid for that group.
You can also combine rules by clicking “Add Criteria.” So, for example, you could create a rule for women aged 25-44. You can’t add a third piece of criteria, like location or mobile operating system.
Ads Manager
When creating your ad set where the performance goal is to maximize the number of conversions, you will see Value Rules. You can then choose whether to apply a Value Rule for that ad set.
There is also a Breakdown by Value Rule for accounts that qualify.
Why Would You Use This?
Meta says that Value Rules are ideal for long-term or strategic goals, including lifetime value or delayed conversions. This actually makes a lot of sense based on some issues I’ve seen.
I immediately thought of a way that I could apply this to address a weakness in Advantage+ Audience when optimizing for leads. For some reason, Meta can get me cheap (but low-quality) leads out of people over 65, so too much of my budget is spent there. I can create a Value Rule to lower my bid on this age group.
This is an interesting way to add control for advertisers when Meta keeps taking it away. I do worry that some will apply Value Rules when it’s not necessary. Will you use this?
I plan to write a blog post that will explore this in more detail shortly.
