New requirements for value optimization have been introduced by Meta, expanding its application to include custom events and non-purchase standard events. This update necessitates revisions in the documentation regarding eligibility.
New Requirements
Value optimization enables advertisers to focus on the value of events, measured by Return On Ad Spend (ROAS), rather than just the number of purchases. To effectively utilize this optimization, advertisers must pass a sufficient volume of unique values. For instance, if all purchases are of the same value, the optimization is ineffective; however, diverse product values (ranging from $20 to $500) can benefit from this approach.
Purchase Events
- Must generate at least 30 attributed optimized click-through and/or view-through conversion events with at least five distinct values over the past 14 days.
Non-Purchase Events
- Must generate at least 100 attributed optimized click-through and/or view-through conversion events with at least five distinct values over the past 14 days.
Regardless of the event type, a minimum of five distinct values is required within the specified timeframe.
Rationale for Use
While the inclusion of value optimization for non-purchase events is a positive development, the thresholds set are relatively high. Advertisers must ensure they pass value with non-purchase events and achieve sufficient volume for this option to be viable. Typically, this implies that advertisers have been utilizing custom or non-purchase standard events instead of purchase events.
There are valid scenarios for using non-purchase events, such as booking appointments or registering for events, where passing values is crucial if an exchange occurs. However, qualifying for this optimization requires passing five distinct values and generating at least 100 attributed events in 14 days, which may be uncommon.
Another potential application could be assigning value to funnel events like Add to Cart or Initiate Checkout, though it is unclear if this aligns with Meta's intentions.
