Facebook changes the way it defines 'clicks' for 'pay per click' ads
Importance: (For Facebook advertisers)
The ‘like’ is synonymous with Facebook, it is often the raison d'être of many peoples posts and it is critical in informing how the Facebook algorithm decides who should be seeing your content.
However when it comes to the business goals of advertising, is a ‘like’ really worth anything? The answer is simple: it is worth something as a means to end, but it is not an end in itself. As an end goal a ‘like’ is worthless to your business.
For those paying to advertise on the world’s largest social network, there is good news. Facebook announced last week that it is changing the way it calculates ‘cost per click’ for ad campaigns on Facebook.
Facebook used to measure cost per click as any kind of interaction with post. So a like, share or comment was counted a click, as well as clicks through to the website of the advertiser. This could be somewhat misleading for whose buying ads on Facebook. If the objective of their ad campaign was to drive traffic to their site, then it didn’t make a lot of sense to be paying for likes, comments and shares as well as their actual objective of clicks through to the website.
The New Cost Per Click
The definition of cost per click now only accounts for ‘link clicks’, which are what related to the objectives advertisers actually want to be paying for. This means that any time anyone clicks through to another website, or clicks to install an App, the advertiser will be charged, but other forms of engagement won’t count as a click.
What does this mean for advertisers?
This change means that advertisers who only ever wanted link clicks should see better returns on ad spend, as they will only be spending money on driving traffic to their site rather than on ‘vanity metrics’ which don’t fulfil business objectives.
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Does this means like no-longer matter?
Not at all. The single worst thing to take away from this announcement by Facebook is that likes are no longer important on the platform. The change means you will not be charged on a cost per click basis for likes and comments, but they will still affect the effectiveness of your campaign in two keys ways.
Firstly likes and positive comments act as a form of social proof. If you see a post with a good number of likes, this may well influence your decision to click through to the website, especially if you see that many of your friends like the post as well.
Secondly the number of likes will influence the internal computerised bidding process, which Facebook uses to deliver ads to its users. Facebook doesn’t want to show its user-base bad ad content, it would much rather they saw clever and relevant ads which aren’t going to put people off its platform. That means posts that are receiving lots of likes are judged by Facebook as going down well with their audiences and thus will be able to perform better at auction.
When is this change happening?
According to Facebook, the changes to their ad buying interfaces (Power editor and Ads Manager) are approximately a month away. If you buy ads through the Facebook API, then you can start buying ads with the updated Cost per Click definition right away. You can also continue to use the old definition through the API until October 7th.
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