The Meta Performance Marketing Summit 2023 brought together industry leaders and experts to explore the latest advancements in digital marketing. As an agency dedicated to staying at the forefront of marketing innovation, we had our team watch the summit and gather insights that can help our clients and followers thrive in the ever-evolving landscape. In this blog, we’ll recap the three biggest takeaways from the summit, as shared by our employees: Shane, Julius, and Maria. Discover how account simplification, Advantage+ Shopping Campaigns, and Conversions API can revolutionize your marketing strategies. Plus, stay tuned for part two next week, where we’ll share what we’re most excited about in the future of Meta marketing.
1. Account Simplification: Unleashing the Power of AI – Shane
First and foremost, simplification took center stage. Simplifying your account structure is critical in unlocking the AI tools Meta has developed and continues to focus on. Account simplification focuses on reducing the arbitrary fractures in targeting that reduce the signals for the AI to make decisions. This may look like Several Campaigns all with the same goal, Campaigns with multiple ad sets, or ad sets with several ads.
2. Advantage+ Shopping Campaigns: Working Smarter, Not Harder – Julius
Automation is the next step in the evolution of how marketers need to navigate an ever-changing new customer dynamic: optimizing client budgets, resources, and time to work at peak efficiency. Through the implementation of Advantage+ Shopping Campaigns (ASC+), Meta applies machine learning through a basic concept of working smarter and not harder, reducing set-up times by having Meta create the best user-facing ad from a set of built-in optimizations based on the creative a client has provided or by showing the right ad to the right user at the right time based on individual social behaviors.
3. Conversions API: Tracking and Measuring Marketing Performance – Maria
Chacka Associate Director of Digital Media, Maria Aumaitre explained that during the Summit, the Conversions API for Meta was discussed, focusing on its implementation and the benefits it offers. Here is a recap of her key points:
- Event Match Quality: The Conversions API relies on strong signals to ensure accurate event matching. It is important to share the same events that you have set up via the Meta Pixel to the Conversions API.
- Deduplication: Make sure that you’re not counting the same events within multiple sources, more than once, as this will cause inaccurate measurement and reporting.
- Data Freshness: The Conversions API provides the advantage of delivering fresher data, enabling you to make more informed decisions in real time.
- Delivery System Evaluation: The Conversions API enhances the evaluation capabilities of the delivery system, allowing for better optimization and performance.
- Combining the Conversions API with the Meta Pixel is highly recommended. If you haven’t done so, you may be lagging in terms of data optimization and measurement across the social advertising world.
- Optimize for a high Event Match Quality (EMQ) score, which is a measure of how well the events are matched between the Meta Pixel and the Conversions API.
- Sending high-quality data through the Conversions API can significantly improve the accuracy of measurement and targeting.
- Sophisticated advertisers can leverage the Conversions API to send different signal points (like higher LTV customers), allowing for more precise differentiation and optimization.
CAPI rolled out as a response to Apple’s App Tracking Transparency (ATT) and with the depreciation of Cookies on the horizon. This server-to-server integration enhances the signal being provided back to Meta for both optimization and performance. Furthermore, sophisticated advertisers can leverage the Conversions API to send different signal points (like higher LTV customers), allowing for more precise differentiation and optimization. In application, Meta has seen a 13% increase in efficiency in cost per result and Chacka Advertisers have seen ROAS and CPA rebound and exceed Pre-ATT levels after implementing.
Exciting Developments Ahead – Part Two Coming Next Week!
As we gaze into the future of Meta marketing, we look forward to what lies ahead. Join us next week for part two of this blog series, where we’ll delve into more developments uncovered at the Meta Performance Marketing Summit 2023. Don’t miss out on these valuable insights, which can help you gain a competitive edge and better results with Meta.