Add to Cart rate is the most correlated KPI to incrementality
ATCR = Add to Carts/Link Clicks
0.39r correlation, which is strong
$170M of ad spend analyzed over 66 clients
Recommendation:
Build out Facebook campaigns focused on Add To Carts and optimize for ATCR to induce greater incrementality, if possible. Work with your Paid Social lead if this is something that you're interested in.
Note: the particular nuances of how we optimize will vary by account.
We're not recommending just swapping all optimization events to Add To Carts
Two options to test for ATC:
Keep everything in the account per usual, but instead of using "purchases" to help guide your budget allocation/optimization strategy, you instead use "Add To Carts" or "Cost Per Add To Cart"/Add To Cart Rate.
Duplicate all or a few campaigns that are currently optimized to purchases and instead change the conversion event to Add To Cart (if you choose ALL campaigns, please ensure your client understands the risk that this could make results worse for a period of time and that this is a TEST, not a proven conversion optimization method yet)
If you move forward with either one of these options, please notify Alex Smith and add the client name + planned start date to this tracking doc.
Listen to Ben walk through the Facebook Ads Incrementality Optimization study: