In the newest round of changes, Facebook has added what it calls a ‘relevance score’ for the performance of ads that run on the site. Advertisers that pay to reach users through their newsfeeds will now see a score, ranging from 1 to 10, that is intended to gauge the effectiveness of the particular ad.
This new metric is originally estimated by the platform based on Facebook’s projections for the ad’s performance and then updated to reflect its actual success, calculated by evaluating the actions of those targeted by the ad as they interact with it in their newsfeed. Interactions could include behavior such as conversion rates, clicks and number of video views. In the end, the number advertisers see reflects the ratio of positive to negative feedback events.
According to Facebook, these scores are better applied to action-oriented advertising campaigns than those designed for boosting brand awareness. The networking platform explains that, “Relevance score has a smaller impact on cost and delivery in brand awareness campaigns, since those ads are optimized for reaching people, rather than driving a specific action like installs.”
The company claims that advertisers will receive several benefits from the addition of relevance scores:
- Lower cost to connect – “The more times we expect people to hide or report an ad, the lower its score will be.” With Facebook’s best guess to help at the outset of a campaign, advertisers can act on that prediction and thereby avoid wasting money on ineffective advertising.
- Pre-campaign testing – trying out variations of an ad and observing how the relevance score changes can help companies hone in on the strongest copy and design choices before the ad reaches the target audience.
- Tweaking active campaigns – using the relevance score as a guide can help advertisers know when it’s time for an update or a brand new campaign. The score can be expected to decline as the ad nears the end of its useful life.
If these relevance scores prove accurate, they may indeed prove helpful for accounting firms that advertise on the platform. That doesn’t mean advertisers need to freak out if the score isn’t as high as they expected, though. As Facebook says, “Achieving the desired outcome…is ultimately more important than your relevance score. If you have an average score but your ad is working, you may not want to change anything.”