You have a new offer that you want to promote. You create a Facebook ad campaign. Should you optimize for conversions or clicks? Well conversions of course, because that's your ideal goal! But there is another option with a new Facebook conversion optimization feature: use BOTH.
How Conversion Optimization Works
One of the many benefits of Facebook advertising is the ability to optimize for a particular event, or goal. Facebook has data. They have lots and lots of data. Ranging from users clicking, viewing, and even converting. As a result, they have a really good idea about which groups of people are more likely than others to click, convert, or engage.
When creating a campaign with the conversion objective, advertisers need to select an optimization action… I normally would select link clicks first if that particular action does not have enough data for Facebook to leverage off of!
You can optimize for any of the following:
When you optimize for an action, Facebook won’t show your ad to everyone within your audience. Instead, they’ll focus only on those most likely to perform the action that you want.
If you want to sell more of your product, the logical assumption would be to optimize for conversions right?. While optimizing for conversions, you first tell Facebook which specific conversion you want to optimize for.
The Problem: No Data
What if you don't have enough data for that particular conversion? What if you do not have any conversions yet? Then is it best to optimize for conversions?
This is what happens when you optimize for conversions without any data. Facebook says, " I don't know really who to target yet because I have not yet found out who is more likely to convert for your specific action." Therefore you could risk your ads being shown to the wrong people. That is why is "some" cases I optimize for link clicks first! But that is just my style!
If I’m selling Facebook Ads Management, I’d logically want to optimize for that.
Facebook knows what types of people have bought my course before because I have the Facebook Pixel on my website and created a Custom Conversion for that product. So Facebook can learn about what those people are like so that they can find more people in my audience who are just like them and likely to buy.
But again the problem: What if my product is new? What if only a couple of people have bought it so far? Facebook won’t have enough data to properly optimize.
Facebook says that in order for its systems to properly optimize, you need to receive a minimum of 15-25 of those conversions per week. Obviously, the more high-quality data that Facebook can work with, the better. But that’s the minimum. ( I have personally tested this and have concluded that it varies on audience size).
New Clicks to Conversion Optimization
Facebook is rolling out a new method that will automatically switch from optimizing for link clicks to conversions!
If you have this new method, the optimization area will look like this…
This is pretty cool so now that you can have Facebook automatically optimize to get you more clicks then when you have enough conversion data it will automatically switch to optimizing for your particular conversion event!
It has two different options!
For Standard Facebook will optimize as follows:
After that it switches automatically to conversions.
For Extended Facebook will optimize as follows:
Facebook will optimize for both link clicks and conversions until you generate 15-25 conversions or your budget is spent. Facebook won’t switch to optimizing for conversions entirely until you reach that 15-25 conversion threshold.
Which One To Use?
If you don't have a lot of conversion data I would strongly suggest to give it a test. And test the standard version. Unless you want to make sure you completely spend your budget do extended! We have been testing this with clients and with audience sizes that are relatively small to medium size we tend to find standard the better option!