Facebook Now Able To Target Ads Based On Spending

 Facebook has rolled out two new tools that allow advertisers to target the customers who are most likely to spend the most money on their products. The first tool is called value optimisation and uses data collected from the Facebook pixel to estimate how much money a user is likely to spend on the advertiser's website over a 7-day period. The ad bid is then automatically adjusted so that these predicted high-value spenders will be targeted with the ad. In order to use value optimisation, advertisers must be running website conversion ad sets that are optimised for purchases in Ads Manager. The second tool is actually an update to its Lookalike Audiences feature and allows advertisers to add a value column to their customer list. Facebook will then be able to target users who are similar to the customers marked as high-value. This feature is available across all objectives in Ads Manager and Business Manager. Facebook hopes that these tools will help advertisers to specifically target the highest-spending users and more effectively optimise for revenue.