By: Tom Murray | Managing Director
One of the most requested features in Facebook was the ability to create custom metrics and columns inside of Ads Manager. Well, it is finally here! You can now create custom metrics in the form of custom expressions right inside Facebook on various metrics such as conversions (and custom conversions), performance metrics, and more.
There are many use cases for custom metrics:
- Ability to add fees into the spend formulas to get true ROI numbers based on agency fees being added into the media spend
- Rate metrics that don’t exist → many rate metrics that deal with percentages do not exist in the platform (conversion rate, lead to conversion rate, add to cart to checkout rate, etc). Custom columns can allow you to track these drop off type metrics from event to event
- You want to name your metrics in a different way than what Facebook shows, to make them more usable and customizable to your specific brand or needs
This simple tool can help save time by no longer requiring separate reports that calculate these new metrics. Now, more work can be done inside the platform more efficiently, which means better reporting, time saved, and more time that can be spent on strategy and optimization!