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Meta’s new campaign optimisation updates: what you need to know.

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Bexley Terrell, Creative Strategy Director
Meta’s new campaign optimisation updates: what you need to know.

By Bexley Terrell

15 Aug 2024 · 5 Min Read

Meta is rolling out some major updates that could transform the way we optimise ad campaigns— the most significant change since the introduction of the Meta Pixel. 

These AI-driven enhancements, focused on greater customisation, are designed to help businesses squeeze even more value from their ad spend. 

As your trusted partners in paid media, we’re here to break down what’s new and offer our take on how these changes could impact your campaigns.

1. Customising conversion value: a long-awaited solution.

First up, Meta is introducing a way to better define the conversions that matter most to your business.

This allows us to share customer segments and data, suggesting why they are valuable. This could be based on customers with higher margins, or better lifetime value and create rules based on this crucial insight that Meta just didn’t have access to before.

In the past, trying to weigh value based on different customer groups often meant segmenting campaigns or using less reliable methods based on on-site behaviour. This usually led to lower learning and less effective algorithm performance. But now, with Meta’s new feature, you can tell the system which audiences or conversions you value more, all within a single campaign.

Advertisers have been asking for something like this for years, and it’s about time. This change should simplify things, especially for businesses that need solutions to complex financial problems, and improve the accuracy of what we see in the platform. We’re keen to see how this develops and what results it will bring for our clients.

2. New attribution models: a focus on incrementality.

Meta is also rolling out a new opt-in attribution and optimisation setting that focuses on incremental conversions—those sales or actions that probably wouldn’t have happened without the ad. 

This is particularly exciting for smaller businesses looking to grow quickly. Proving the impact of Meta ads can be tricky, especially for smaller advertisers, but this update could make it easier to see how much extra value Meta is driving beyond what you’d typically measure in tools like GA4.

Meta's early tests showed a 20% average lift in incremental conversions, which is promising. However, while we’re optimistic, we’re also cautious—every new approach needs testing to determine how well it actually works in real-life scenarios.

3. Powerful analytics integrations: bridging the trust gap.

Another big change is the ability to connect your external analytics tools, like Google Analytics and Northbeam, directly to Meta’s ad system. 

This integration informs Meta's algorithm how we are measuring its performance in our third-party measurement tools and allows it to take these external factors into account.

This could help tackle the issue of trust—let’s face it, in-platform reporting isn’t always as reliable as we’d like. Meta’s current approach sometimes credits itself with conversions that aren’t really that important, making it hard to know what’s really working.

By linking up tools you already use and trust, we expect to see less disparity and more consistent data. This tells Meta what we think is valuable, which can only make the delivery algorithm more intelligent. This should lead to better insights and, ultimately, better campaign performance.

CPM increases: a strategic trade-off.

These updates might lead to higher CPMs (cost per thousand impressions), but that’s not necessarily a bad thing. If higher CPMs come from targeting more valuable customers, then you’re still getting good value for your money. It might mean reaching fewer people, but those you do reach will be more likely to be of higher value, engage and convert, which could boost lifetime value, profit, and revenue.

How will it shape future campaign strategies?

All in all, these changes seem to be pushing towards further account simplification—something we’ve seen happening for a while now. The overall direction looks positive. We’re welcoming these updates with curiosity and a determination to test thoroughly before making them our go-to and urge you to do the same. 

Wrapping up.

Meta’s latest updates are a big step forward in helping advertisers align their campaigns more closely with what matters to their business. While the changes are exciting, especially when it comes to automation and value-based optimisation, we’ll be keeping a close eye on how they perform and testing them rigorously across our client accounts. As always, our goal is to make sure every pound spent on Meta’s platform delivers the best possible results.

In our opinion, the most exciting change is Meta’s much more robust approach to value-based bidding, something that has been severely lacking historically. The ability to specify how important each customer is to you and create rules based on that should mean more efficient allocation of spend and, crucially, more profit back in the pockets of advertisers. 

We’ll keep you updated as we dig deeper into these features, and we’re excited to share our findings.

Bexley Terrell

About the author

Bexley Terrell

Hey there, I’m Bexley and I'm the Creative Strategy Director at Bind Media, where we take care of all things UGC, consumer behaviour and data-driven testing! 

Essentially, my job enables me to utilise both my creative and analytical skills while working with a diverse range of clients.

🎵 Favourite Artist: Sleep Token

🎉 Hobby: I’m a vocalist in an Alt Rock band

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