Facebook has implemented a new Experiments section in Ads Manager that will include multiple types of tests previously available from Test and Learn, and Split Test.
Testing is an important tool for marketers that allows them to make strategic decisions to see what works, and what doesn’t, and finding new opportunities for growth.
The new section that Facebook has implemented will include four types of tests- A/B Tests, Holdout Tests, Brand Surveys, and Campaign Budget Optimization Tests.
A/B Tests are designed to let marketers compare their creatives and audiences and other included variables to figure out what attracts more traction. A/B testing is great when marketers are trying to get answers for questions, such as: Which creatives are working the best? Which CTAs work better with a set audience?
Key Metrics: Cost per Result, Cost per Conversion Lift
Another test that is available with the new Experiments sections is Holdout tests. Holdout tests make it easier for marketers to calculate conversions that are captured by their ads. Facebook will compare the conversion rates of people who saw their ads with people in a holdout group. The members that are part of a holdout group are never shown the ads. The test uses this information to calculate lift in conversion events like purchases.
Key Metrics: Conversion Lift
The third test that is available with the new implications of the Experiment section are Brand Surveys. The idea behind a Brand Survey is to give marketers a better understanding of the brand’s impacts from their ads. Marketers will implement this to find things like awareness, perception, recall and more.
Brand surveys work by gathering people who have seen the ad and gathering people from a holdout group who haven’t seen the ads. After they gather people from both sides they will give both groups a poll. With the results, Facebook will compare the results, making it easier to measure how ads impacted a brand objective.
This also will give marketers a confirmation if they are investing in the right strategy.
Key Metrics: Brand Lift
The fourth and final test that is part of the new Experiment section is the Campaign Budget Optimization test. Campaign budget optimization is a Facebook feature that optimizes the distribution of your campaign’s budget across the ad sets within that campaign.
This means Facebook will automatically and continuously find the best active opportunities for results (based on your objective) across your ad sets and distribute your budget in real-time to get those results.
This test allows marketers to test campaign budget optimization versus others that are not, measuring the difference between the two. This test will automatically randomize an audience to determine which of the two proposed strategies work better.
Key Metrics: Cost per Result
Sometimes the smallest change can have the biggest impact- different images, different copy, an alternative CTA. These elements matter, but the only way to figure out if these changes are necessary is by testing.