There are new requirements for value optimization.
META recently expanded value optimization to include custom events and non-purchase standard events. Documentation regarding qualification requirements is naturally required.
Here’s what you need to know…
New requirements
Of course, value optimization allows advertisers’ algorithms to prioritize the value of events (AD spending returns) rather than the purchase quantity.
To make this optimization useful, you need to pass a reasonable unique value. This approach is not beneficial if every purchase is the same value. However, if you sell a product that may be $20, it can reach up to $500.
These are the new requirements for purchasing activities:
…In the past 14 days, at least 30 click-through rates attributed to optimizations and/or viewed by conversion events with at least five different values.
And all other (non-purchase) standard and custom events:
…In the past 14 days, at least 100 optimized click-through rate and/or view conversion events have been generated with at least five different values.
No matter what happens, you need to pass at least five different values over the last 14 days. During this period, purchase activities require only 30 attribution conversions to qualify, but custom events and non-purchase standard events require 100.
Why do you want to use this?
While it’s nice to see Meta add value optimizations to non-procurement events, these thresholds are high.
The key point to understand is that you still need to deliver value through non-purchase events and get volume from those events, which is an option. In fact, this usually means that you have been using custom events or not purchasing standard events in place of purchasing events.
There is a nice argument that using purchase events to book an appointment or register for virtual or face-to-face events. These operations have standard events, if involved in exchange, you will want to pass the value.
Again, the key is that you need to pass five different values over the last 14 days and generate at least 100 attribution events during that tie to qualify. This is certainly a rare situation that applies.
Another possibility might be that you apply value to funnel events (such as adding to cart or starting checkout), but I don’t know that this must be the Meta idea.
Will you use this?
I may be missing some obvious scenarios that might be useful. How do you use this?
