Facebook recently announced that they will be removing Relevance Score as a metric starting April 30th. There’s no need to worry, though, because Facebook will be replacing the metric with three other, more relevant metrics (see what I did there?).
FIRST: WHAT IS FACEBOOK’S RELEVANCE SCORE?
Relevance Score measures how relevant your ad is to your targeted audience compared to other Facebook ads marketed to that same audience. This is based on factors including positive feedback (clicks, likes, app installs) and negative feedback (ex: someone clicks "I don't want to see this" on your ad).
It’s important to note that unlike Google’s Quality Score, Relevance Score doesn’t have an impact on cost savings for campaigns, so optimizing to improve your relevance score wouldn't necessarily improve performance.
MOVING FORWARD, HOW WILL I KNOW IF MY AD IS RELEVANT TO MY AUDIENCE?
Over the next few months, Facebook will be rolling out three new metrics to better evaluate an ad’s relevance:
How your ad’s perceived quality compared with ads competing for the same audience.
ENGAGEMENT RATE RANKING:
How your ad’s expected engagement rate compared with ads competing for the same audience.
CONVERSION RATE RANKING:
How your ad’s expected conversion rate compared with ads that had the same optimization goal and competed for the same audience. (Source)
WHAT DOES THIS MEAN FOR ADVERTISERS?
This is exciting! With the three new metrics Facebook is introducing, you’ll be better able to determine your ad’s relevance and better determine the cause for any performance issues.
An example: if you notice your ad is not leading to as many conversions as you’d like, you can look at the conversion rate ranking metric to gauge whether your campaign is converting at a similar rate compared to other ads with your same optimization goal. If it is, then you have a better understanding of how you are doing compared to your competitors. If it’s performing worse, you might want to tweak the audience or the ad to try and boost the conversion rate. The same concept applies for engagement and quality of your ad with the other two new metrics.