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What is Meta’s New Performance 5?

As digital advertising continues to grow and evolve, so too must the strategies and tools that advertisers use to stay ahead of the curve. One such tool is the Meta Performance 5 framework, which is designed to help media spenders increase the effectiveness of their ad dollars on platforms. The goal of these features is

By Samir ElKamouny
Meta Performance 5

As digital advertising continues to grow and evolve, so too must the strategies and tools that advertisers use to stay ahead of the curve. One such tool is the Meta Performance 5 framework, which is designed to help media spenders increase the effectiveness of their ad dollars on platforms. The goal of these features is to allow advertisers to get the most out of machine learning and data-driven creative strategies by utilizing a simple strategic framework to get the most out of your media dollar.

The five pillars of the Meta Performance 5 framework are:

  • Account Simplification
  • Creators for Direct Response
  • Creative Diversification
  • Conversion API Quality Check
  • Business Results Validation.

Each of these pillars represents a different area of focus that can help advertisers to improve their performance on digital platforms. When companies and marketers use the Performance 5 framework, they can expect to see better results in terms of reach, engagement, and conversions. Additionally, the framework can help to improve brand awareness and reputation through its emphasis on quality control and data-driven results.

Pillar 1: Account Simplification:

As digital marketing continues to evolve, so does the way we need to manage our advertising accounts. To improve performance and achieve our desired outcomes, it’s important that we simplify our account structure. This means spending less time in the “learning phase” and more time actually running campaigns. The Meta ads delivery system has been designed to do just that, with the help of AI automation.

When we create a new ad set or make significant changes to an existing one, our account enters the learning phase. This is when the Meta ads delivery system learns more about targeting, timing, and which placements and creatives work best. However, this is also a time when performance is not yet stabilized and ad sets usually have higher CPAs. Keeping less than 20% of your budget in the learning phase is suggested to avoid weak performance and higher costs.

The new Advantage+ shopping campaigns tool under Meta Advantage can help automate the entire campaign process, from delivery to creation and management. For those spending over $1 million a month on advertising, 3-5 campaigns per month can be run automatically. For those spending less than $250k a month, 2 campaigns can be used. By following these best practices, we can simplify our account management and improve our overall performance. We’ll waste less time in the learning phase and see better results from our campaigns. Automation tools can help us save even more time and achieve even better results.

Meta Performance 5

Pillar 2: Creators for Direct Response:

The rise of social media and internet celebrities has led to a new form of advertising: creators for direct response. This strategy encourages brands to leverage the trust, authenticity, and originality of creators to launch Branded Content ads on Meta technologies. These ads empower creators and brands to work together to create tailored, authentic, original content that helps build connections with existing and new customers. An internal study across 12 e-commerce advertisers shows that adding Branded Content Ads to advertisers’ media mix has driven an average sales lift of 39% and a 19% lower median vs. the target CPA. Facebook suggests not just creating user-generated ads but using something called creative content ads, which is similar to whitelisting. They suggest if you are new to whitelisted ads try to invest 10% of your budget on these ads, but if you have tried it and see traction, invest 50% of your budget. This may seem a little aggressive on spending, and marketers are still seeing how they feel about these suggestions, but if you are seeing a 39% sales lift, it may be worth it to put more spending towards these ads. Creators for direct response is a great way to create connections with customers and increase the effectiveness of media dollars on platforms. By leveraging the trust, authenticity, and originality of creators, brands can create tailored, authentic, original content that helps build connections with customers. For e-commerce advertisers, adding Branded Content ads to their media mix can result in improving sales and increasing audience reach.

Pillar 3: Creative Diversification:

Advertisers are seeing success with creative diversification. In 2021, advertisers using this strategy saw two main benefits: 32% more efficient DR outcomes and 9% incremental reach. Consumers become bored of seeing the same ads in style or content and quickly develop what is known as creative fatigue. To combat this, advertisers need to employ two strategies: using a variety of ad formats and placements, and ensuring that their ads contain fresh messaging that will resonate with their target audience. By testing out new ad formats and placements constantly with your campaigns you can keep things feeling fresh for consumers. Reels, UGC-style ads, and videos are all great examples of ad types that can help you connect with customers in a more personal way and drive up performance. Still, you do not want to stick with just one style of ad or customers will get bored. This is why we have seen an increase in things like user-made ads and other styles of creative diversification. Compared to traditional ads, these new methods can help you break through the clutter and deliver your message in a more impactful way. It is not only important to keep your ads visually interesting, but also to make sure that the messaging is on point. This means understanding your target audience and what kinds of concepts will resonate with them. If you are trying to sell to a younger demographic, for example, you will need to make sure that your ads are hip and modern. Likewise, if you are targeting an older audience you will want to avoid anything that feels too trendy or “out there”. By keeping your finger on the pulse of popular culture and understanding the needs of your target market, you can ensure that your ads are always fresh and relevant.

Pillar 4: Conversion API Quality Check:

When it comes to conversions and ensuring that your media dollars are being spent effectively, the Conversions API Quality Check is essential. Facebook recommends aiming for a score of good or great when it comes to event match quality, to create a direct and reliable connection between Meta and your marketing data. This can help optimize ad targeting and personalization, decrease cost per action and measure campaign outcomes more accurately. There are two important technical areas that your marketing engineering teams should pay close attention to ensure a good quality Conversions API setup: redundant event setups and improved event match quality scores. Redundant event setups involve using both the Conversions API and the Meta Pixel. When you use them together, it creates a more reliable connection that helps the delivery system decrease your cost per action. Improving your EMQ score is another important way to improve the quality of your Conversions API setup. The EMQ score is visible in the Event Matching tab in your server event details, and a higher score means events are more likely to match a Meta account. This can help you see more of your conversions and lower your cost per result. By taking these essential steps to improve the quality of your Conversions API, you can ensure that your media dollars are being spent effectively and that you’re getting the most out of your Meta account. This is one of the best practices after the release of ios14. Paying close attention to your event match quality and aiming for a score of good or great will help to create a direct connection between Meta and your marketing data that can then be used to optimize ad targeting, personalization, and campaign outcomes.

Pillar 5: Business Results Validation:

It is no secret that businesses need to be able to track and measure their results to make informed decisions about where to allocate their advertising dollars. However, doing so used to be fairly straightforward, as Facebook Ads Manager provided all the data needed. However, with the increasing sophistication of platforms such as Facebook and Instagram, it has become more difficult to get an accurate picture of how well your ads are performing. In fact, an internal Facebook Meta-analysis of 32 businesses that showed on average, last-click attribution undervalues Facebook and Instagram by 47%. This is due in part to the fact that traditional “last click” attribution models do not take into account all the factors involved in a purchase – for example, the impact of impressions or cross-device behavior. To address this challenge, Facebook has developed a new tool called “Conversion Lift”. This tool uses a gold-standard methodology to capture the causal impact that Facebook, Instagram, and Audience Network ads have on business performance. In doing so, it helps marketers overcome issues such as over-reliance on clicks and shift to mobile browsing. The end result is a more accurate measure of how well your advertising is performing. By ensuring that you get your results properly through Conversion Lift, you can be confident that you are making the most of your advertising budget. The 5 Meta Performance pillars are essential for any business that wants to make the most of its advertising budget on Facebook. By following these best practices, you can be sure that your media dollars are being spent effectively and that you are getting the most out of your Meta account, allowing businesses big and small to better utilize ad spend in a rapidly changing online world. If you’re looking for a partner to manage your ads get in touch with us today to discuss your goals and what is the best strategy to get you there.

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