Facebook recently revealed a new tool that’s currently in Beta for select advertisers, named ‘Creative Compass’. We discuss our take on the news in Episode 2 of the new season of Industry Spotlight…
See below for the full video transcription.
Chris: So the second topic we’re going to discuss today is the Creative Compass beta that’s been rolled out across Facebook. It’s a new tool that’s designed to help advertisers figure out how effective their ad is going to be. So there’s a couple of things that they use to measure effectiveness. There’s noticeability, brand association, brand lift, and a couple of other metrics.
Jamie: What’s noticeability?
Chris: I think it’s just like an awareness metric, so how long people…
Chris: No, not reach, necessarily. It’s just designed to, yeah, I think it’s just…well, it’s an algorithm.
Lee: Is it a new word for impressions?
Chris: No, I don’t think so. I think, well, it’s their interpretation of whatever it is but I would imagine it’ll be like dwell and things like that. So, yeah, there’s loads of different things that it looks into. Informational content, emotional rewards, call to action, things like that. So it’s a little tool that’ll be accessible to select partners of Facebook. At the minute, I think it’s only been beta’d in the U.S.
Yeah, so I imagine you’d find that in your Business Manager platform and basically it’s to give you a preview of how it’s going to perform before you launch it. So it just saves a lot of hassle and time doing testing throughout the campaign and making those learnings over a period of time and then realizing that it’s not been effective on, say, call to action or a reach basis, something like that. So, yeah, it’s just quite effective in trying to deduce how it’s going to perform before you set it live, which is good. Just saves a lot of budget.
Lee: So when’s that going to be freely available for everyone?
Chris: 2019. They’ve not specified when. I imagine it’ll get rolled out to everybody over the course of the year. The only issue is, like I say, it’s only exclusive tech to partners of Facebook and the partner program is notoriously difficult to get on. Although, having said that, Facebook have announced that they’re going to be launching a program as well for smaller advertisers, smaller to medium advertisers and consultants as well.
Chris: Yeah. Which is…Yeah, it’s called Facebook Pro, so that would be something that’s, for instance, suited to us possibly, which is going to offer a little bit of extra support, whereas only the bigger agencies on this beta program will be getting access to this tool, which is silly really because it’s not a massive groundbreaking piece of technology, I imagine. I don’t imagine it’s something that they’ll be paying extra for. It’s just a product that should really be widely available. But, yeah, that should be coming soon, next year hopefully.