5 Meta Custom Metrics That Can Make Your Data Work For You

As a performance-driven agency, Revel is always looking for fresh insights to bring to our clients. When reviewing performance on a weekly basis, it can be easy to get sucked into the pattern of reporting on the same KPIs in Meta. While these key metrics deliver important information to us about the paid media side of the business, we can uncover so much more data about our ads utilizing Meta’s custom metrics feature. In this article, we’ll discuss what custom metrics are, where to find them, and provide some inspiration for custom metrics you can build yourself.

What Are Custom Metrics?

Launched in late 2019, Meta’s custom metric feature allows users to create custom formulas to calculate new metrics utilizing the data Meta already has available. Custom metrics can be great for calculating things like: conversion rate, average order value, and cost per acquisition.

Where Can I Find Custom Metrics?

Custom metrics are just a few clicks away when we’re in Ads Manager. To create a custom metric, first navigate to the “Customize columns” button under the “Columns” dropdown in Meta Ads Manager.

From there, navigate to the “Custom” tab at the top of the pop-up window, and click “Create custom metric”. Easy enough, right?

Now that we know what custom metrics are and where to find them, let’s talk about some custom metrics you can build on your own and utilize in your reporting.

5 Meta Ads Custom Metrics

Conversion Rate

While not included in Meta’s standard reporting columns, CVR provides us with essential information about our ads. It can help answer questions like:

• Does our ad offer a compelling enough value proposition?

• Does our landing page effectively deliver on what our ad promises?

• Are users having to click through too many pages on the site to find what they’re looking for after they see our ad?

For these reasons, CVR is a staple metric to include in your reporting.

Average Order Value

AOV tells us, on average, how much our customers are spending per purchase. This metric is pretty straight forward, but can provide lots of context when discussing revenue fluctuations with a client.

Hook Rate

Used for video ads, Hook Rate is a great tool to discover if user attention is effectively being captured within the first 3 seconds of your ad. Also referred to as “thumb-stop rate”, this metric helps us determine if our ads are compelling enough to stop a user’s doomscrolling.

Cart Drop-Off Rate

Cart Drop-Off Rate can help us uncover issues with our ads. Did the client make a change to their site without informing your team? Is there an issue on site we’re not aware of, such as requiring a minimum purchase value to checkout, or showing an out of stock item as available? A spike in this rate can help answer these questions.

Revenue Per Link Click

We frequently look at CPCs with clients, but have you ever discussed revenue per link click with a client? This metric adds color to our traffic: is our traffic profitable? Are there times of day where lots of traffic is being generated, but they’re converting less than average? This metric provides another tool when you’re reviewing traffic quality and revenue fluctuations.

Summary

Custom metrics have a variety of applications within Meta Ads Manager, and can equip you with the tools you need to add color to all your reporting. Once you start using custom metrics to your advantage, you unlock a world of useful data that wouldn’t be available to you otherwise. At Revel, we use custom metrics to bring unique insights to our clients. Let us start helping you learn the most from your data!

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Set-up and Utilization of Maximize Value Campaigns on Meta

Social campaigns have long been viewed as upper funnel and mid funnel tactics, but with new campaign objectives like maximize conversion value we are better able to optimize toward the end purchase than ever before.

Advertisers can now mirror tried and true tactics on search like target ROAS bidding using the max conversion value optimization event in an Advantage+ shopping or traditional sales campaign. Leveraging a tROAS on social campaigns allows us to combine the powerful catalog capabilities and visual nature of social ads with more accuracy than ever before.

When using the max conversion value campaign there are several things to consider in set-up in order to ensure the best return. When using a tROAS the campaign will curb spending unless it is confident that the tROAS can be hit.

ATTRIBUTION SETTING

While 7 day click 1 day view attribution remains best practice, when setting up a max value campaign it is important to consider if a different attribution window makes sense for optimization. For example, if you combine the max value objective with a retargeting audience, you may be looking for more immediate conversions than a prospecting campaign and therefore a 1 day click attribution setting may make sense. Regardless of the attribution setting selected you need to be aware of what that setting dictates when setting your target ROAS goal.

TARGETING

Max value works best with both broad targeting and broad creative, but can also be deployed to ensure a specific return on a particular audience segment. To use the retarget example from above, we may be looking to convert on retargeting audiences only at a known return. Oftentimes retargeting audiences have touchpoints in other channels like search or email that may convert them and therefore we want to limit the duplicative spend against these audiences unless we can guarantee a specific ROAS is met. Considering the targeting when setting your ROAS goal is key to ensuring success with this campaign type.

Creative & Product Assortment

The third major consideration when setting up a Max value campaign is around product assortment and creative. Max value campaigns really thrive when using catalog ad formats like collection and carousel ads.

When it comes to the product set you select, think about keeping it as broad as possible. After several rounds of testing, we found that layering in promotional creative into a max value campaign hurt the campaign’s ability to spend at the tROAS goal. Essentially, we were confusing the algorithm by asking it to find higher AOV purchasers but then feeding in discounted products in the creative. Additionally, even full price product ads did significantly better when the entire catalog was included vs. a subset of the catalog. You still want to include several ad variations, but leaning into all catalog ads will help this campaign type optimize best.

Other Considerations

Several other considerations for determining if max value makes sense for your brand. Max value is best deployed not only with a range of products and price points as mentioned above, but specifically for brands where AOV can be a challenge. Brands who struggle to find adequate conversion volume to exit the learning phase likely are not a fit for a Max Value campaign. Secondly, given the volatility of daily spend it is not recommended that you rely only on max value campaigns within your social strategy. Finally, these campaigns take a full two weeks to ramp up and start to hit that tROAS goal consistently.

Interested in learning more about max value campaigns? Reach out to our team to discuss if this tactic might be the right fit for your program.

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Elevating Meta Dynamic Product Ads: The Power of Supplementary Feeds

The Challenge: Making Dynamic Ads Align with Brand Standards & Aesthetics 

Meta dynamic product ads have long since proven themselves to be an effective digital marketing tool, but their default appearance is justifiably not every brand’s cup of tea. Dynamic product ads come with certain limitations that can make it challenging to tailor ads to specific brand standards. While Meta product feed customization services like Socioh exist, they aren't attainable to all businesses. Enter a practical and accessible solution: supplementary feeds.

Supplementary feeds are a powerful tool that enable brands to control the product images that appear in Meta dynamic ads instead of relying on the images automatically pulled from the product feed. If the default product images don’t meet expectations, supplementary feeds provide the flexibility to enhance and optimize visuals for a more brand-aligned ad appearance.

A Real-World Solution: Solving the Mis-matched Image Ratio Dilemma

Our client faced a specific challenge:

• Meta DPAs require a 1x1 product image ratio, but both their Shopify and GoDataFeed product feeds exclusively feature 2x3 product images, the preferred ratio for their website images.

• As a result, their default product images in DPAs were automatically resized, adding unwanted white borders to the top and bottom of the images—going against their brand’s visual aesthetics.

• They wanted to maintain their website’s product image aesthetics while ensuring a clean, brand-aligned appearance in their Meta catalog-based ads. 

TLDR: They needed 1x1 product images to pull in exclusively to Meta without existing anywhere in the feeds that power their other channels. 

The Meta Supplementary Feed Approach

The solution was straightforward:

1. Client created 1x1 ratio product images specifically for Meta ads

2. Client placed links to these images in a Google Sheet*

3. We added a column with corresponding product IDs (the ID that Meta reads and associates with the products in the feed)

4. We uploaded the new feed**

1. How to add a supplementary feed to your catalog in Commerce Manager 

Beyond Image Ratio: Creative Possibilities

Supplementary feeds open up numerous creative opportunities that will exclusively apply to the Meta feed:

• Overlay brand logo on product images

• Add text callouts (e.g., "Best Seller” or “New Arrivals”)

• Show different product angles or on-model images (as opposed to the default, oftentimes plain catalog shots)

• Feature custom backgrounds

• Visually callout discounts or active promotions 

• Feature seasonal or holiday-themed elements 

• Create custom backgrounds

Conclusion

Supplementary feeds offer a powerful, flexible way to take control of your Meta dynamic product ads. By thinking creatively and leveraging this tool, brands can create more compelling, on-brand advertising experiences that capture customer attention and drive conversions.

*To ensure proper upload, image links must link directly to the image file. Links that direct to a webpage or require a download will result in upload failure.

**Additionally, we needed to configure our data sources to prioritize images from the supplementary feed over other feed sources.

To do this in Commerce Manager:

1. Go to Data Sources

2. Select Configure Data Sources

3. Navigate to Image

4. Choose your Supplementary Feed

5. Click Save

This ensures that Meta pulls the preferred images from the supplementary feed for dynamic ads.

Photo: © cottonbro studio from Pexels

Leveraging Meta's Advantage Plus Campaign For New Customer Acquisition

New customer acquisition and increasing brand awareness is key to expanding your customer base. Meta Advantage Plus campaigns can be a great resource to achieving this goal. Meta recently updated the targeting and reporting features within the Advantage Plus campaign type that can be used as a helpful tool in both reaching new customers, and understanding how these customers are responding to your ads. Here are three ways this campaign type can help with your new customer acquisition goals:

Targeting:

Advantage Plus allows you to target new customers, existing customers, and engaged customer lists. Engaged customers is a newly added custom audience defined as “people who are aware of your business or interacted with your products or services, but have not made a purchase.” (Social Media Today). While you have the option to target all three as one, all-encompassing campaign, you also  have the option to only target new and engaged customers, and exclude the existing customer list to focus specifically on new customer acquisition. 

Reporting:

The Advantage Plus campaign type allows you to break down your reporting by audience list, and measure which sales are coming from new, existing, and engaged customers. Gaining insights into how each list is interacting with your ads, allows you to tailor your messaging and assets to meet people where they are in the sales funnel.

Messaging & Creative:

Tailoring your messaging and creative to serve relevant ads to these specific audiences is crucial for optimal performance. In a new customer acquisition effort, speaking to what sets your brand apart from competitors, and why your customers believe in your brand and product can help establish trust. Updating your assets and messaging as users become engaged, and eventually existing customers will help maintain relevancy and move users down the sales funnel.

According to Meta, Advantage Plus campaigns drive a +17% improvement in cost per acquisition on average, and a +32% increase in return on ad spend (Social Media Today). If new customer acquisition is a goal for your business, consider adding an Advantage Plus campaign to your paid social strategy. 

Source:

• Meta Adds New Insight Targeting Options for Advantage Shopping Campaigns - Social Media Today
• Advantage+ Shopping Campaigns - Facebook Business
• Facebook Business Help Center
• Meta Adds New Insight Targeting Options for Advantage Shopping Campaigns - LinkedIn

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