Facebook Advertising 
“Quality is more important than quantity. One home run is much better than two doubles.” – Steve Jobs. The same principle applies to Facebook advertising. Instead of aiming for as many $2 sales as possible, Facebook offers a solution to target audiences who can spend two to three times that amount. This solution is Facebook’s maximize value of conversions.
In this blog, we’ll explore what Maximize value of conversions means, when to use this strategy, and key considerations to keep in mind. Let’s dig in, shall we?
What is Maximize value of conversions on Facebook?
Maximize value of conversions (formerly Value optimization) is an ad delivery strategy that optimizes your Facebook ads to generate the highest possible ROAS (return on ad spend) for each purchase.
Normally, Facebook’s default setting is to optimize for the cheapest possible conversion. But when you flip to maximize value of conversions, Facebook starts hunting for folks who might not convert as often but are likely to spend BIG when they do.
This option can be found in the Performance goal field when setting up your Ad set.
In addition, this optimization strategy greatly increases your CTR due to its selective targeting of high-demand and high-purchase power customers.
Facebook uses the purchase values sent from the Facebook (Meta) Pixel to estimate how much return on ad spend (ROAS) a person might bring in over seven days. Based on this estimate, the system adjusts your bid automatically.
When you create a Pixel event, make sure to include a “Value” row so the algorithm knows what each conversion is worth.
How to be eligible?
Since Maximize Value of Conversions is a feature that requires data to learn from, there are certain requirements you must meet before you can turn it on. Here are the eligibility criteria for you to review:
1. An active integration like Facebook Pixel, Conversions API, or Facebook SDK.
2. Sales & App Promotion as the campaign objectives.
3. Minimum purchase requirements:
- Web: At least 30 attributed click-through purchases with values over the past 7 days.
- App: At least 15 attributed app sales with values during the same period.
Attributed means that these purchases must directly come from your ads (not organic purchases).
Important note: Facebook has separate thresholds for each campaign objective. To create value optimization ad sets for 1 Sales and 1 App promotion campaign, you need 30 Purchase conversions for each type of campaign.
When to use Facebook Maximize value of conversions?
Maximize value of conversions is a powerful tool, but it’s not a one-size-fits-all solution. It shines particularly in certain scenarios and may require testing to see if it fits your needs.
High-sales volume stores
Maximize value of conversions is ideal for e-commerce stores with high-volume sales and large audiences. These businesses already have a high number and rate of conversions, so higher Average Order Value can significantly increase their gross profit.
For low-volume stores, it’s best to go with other performance goals because when the cost per conversion is higher, exiting the Learning Phase—when Facebook starts optimizing your ads for optimal results—can be way more challenging.
Target users post-iOS 14
With iOS 14 shaking things up, turning on maximize value of conversions helps you keep reaching users who have opted out of iOS tracking, making sure your ads still hit the mark despite the new tracking restrictions.
Considerations for maximize value of conversions Facebook ads
Hold your horses. If you think just choosing maximize value of conversions and leaving it there will bring you 2x ROAS right away, you’re mistaken. Optimizing for value is an art.
At Nestscale, we receive a lot of questions regarding this topic, and here’s our answer:
The optimal amount of weekly conversion
What if your numbers of weekly web purchases or app installs drop below 15 or 30?
Don’t worry—Facebook won’t switch back to basic conversion optimization.
However, Facebook suggests having 30 or more conversions per week to keep things running smoothly. Any number lower than the algorithm might not be as sharp due to less data.
If you’re using the highest-value bid strategy with no minimum ROAS, your delivery won’t slow down.
The minimum ROAS bidding option
Can you control the ROAS you get for your ads?
Well, certainly. Use the lowest cost with a minimum ROAS option.
It’s how you make sure every bet pays off (like at a casino).
The bidding strategy is like setting a “minimum payout” at the slots. If you set your minimum ROAS at 150%, Facebook will gamble with your budget, aiming to bring back at least $1.50 for every dollar spent on ads.
You can set this “payout” anywhere from 1% to a staggering 100,000%, making it as high-stakes as you like. Without a ROAS goal, though, Facebook will just use the highest-value bid strategy.
The number of event slots it takes
When you enable Maximize value of conversions, it will take up a minimum of 4 out of the 8 total event slots. If you’ve got too many events you want to track, you might run out of space to turn on Maximize value of conversions.
If it’s not ranked in Aggregated Event Measurement, you can still aim for value optimization, but your ads won’t reach those elusive iOS opt-out users, potentially cutting down on your campaign’s reach and effectiveness.
Remember to evaluate results frequently
Keeping tabs on which ads are bringing the money home is crucial, allowing you to know if maximizing the value of conversions is really bringing the VALUE Facebook promises.
You can check the Purchase Value (ROAS) column in Meta Ads Reporting but apparently, Meta often shows incorrect ROAS on purpose to make advertisers spend more. Scary.
But don’t worry, we got your back. Our ad tracking tool NestAds can accurately track and compare the ROAS of every single ad you have across platforms, not only for Facebook but even TikTok and Google. With NestAds’ Performance report, you can precisely check for CTR, Conversion rates, Cost Per Mille, etc. of every ad channel.
It has never been easier to evaluate whether maximizing the value of conversions is delivering the desired results.
FAQ
Maximize value of conversions greyed out?
If maximize value of conversions is greyed out, it usually means your campaign settings or objectives do not meet the requirements for this optimization option.
Ensure you have the correct campaign objective and meet all eligibility criteria, including having a sufficient number of conversions and an active integration like Facebook Pixel or Conversions API.
Maximize conversion numbers vs maximize conversion value?
- Maximize number of conversions aims to get as many conversions as possible, regardless of their value.
- Maximize value of conversions focuses on achieving the highest possible revenue from your conversions, optimizing for the value of each conversion rather than just the quantity.
Should you use maximize value of conversion?
Yes, maximize value of conversions is great for high-sales volume stores and those targeting users post-iOS 14, as it boosts revenue by focusing on high-value conversions. For low-volume stores, however, it might not be as effective and could require additional testing to see if it suits your needs.
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