What is Performance Grading?
Our Performance Grading gives you a clear, at-a-glance understanding of what is and what isn't working at the ad set level within your ad account. Our algorithm looks at the historical performance of your ad account so we can develop a baseline for what good performance looks like for you. Based on the performance then of your ad sets, we assign grades A-F so you know when an ad set is doing well and when it isn't. These grades serve as the basis for our Predictive Budget Recommendations, where we offer budget increase and decrease suggestions for top performing ad sets (those that have high B letter grades, or an A). Our grades also indicate what a "winner" looks like, as winning ad sets are those you will want to bidtest.
What does U mean?
The U that you see at the beginning of an ad set name stands for Unavailable. It will be replaced with an A-F grade as they flow in.
How long does it take for the grades to show up?
Depending on budgets, it can take anywhere from 24-96 hours, sometimes longer, if budgets are very small. It's really all about the amount of data coming in. Larger budgets mean more data. You can have some level of control over this by setting your Grading Confidence on the Settings page. Read more about this and other settings here.
What actions should I take based on these grades?
You receive letter grades for any ad sets that you cltrack. A and B graded ad sets are good candidates for a bidtest. Once you kick off a bidtest, the default setting will shut off Ds and Fs. You can monitor As, Bs, and Cs for opportunity to scale, or eventually shut off.
You will receive budget recommendations for any A grade or high performing ad sets that our algorithm sees opportunity with which to scale. You can find these under the Recommendations tab at https://app.companionlabs.com.
What do the →↑↓ arrows mean that I am starting to see next to grades?
The arrows are a seven day trend indicator. They let you know statistically if a bid level is on an upswing. For example, you’d probably want to leave a C↑ on to see if it can reach a B grade.
What are Predictive Budget Recommendations?
Our Predictive Budget Recommendations are developed specific to your ad account based on our algorithm crunching numbers. With this data science, we give you an exact number by which to increase or decrease your daily budget so that you can maintain top level performance. We update these recommendations every four hours, and our platform allows you to accept or ignore them with the click of a button so that you can easily master the art of scaling budgets and succeeding.
Click below to watch Brian demonstrate our Predictive Budget Recommendations:
What is a bidtest?
A bidtest with CompanionLabs helps you get the very most out of a campaign that is already performing well. Once you've applied a bidtest recommendation, a bidtest creates 8 duplicates of this ad set, each functioning at a different bid level and spanning Facebook's recommended bid range. Our software then grades each ad set so you can find the top performing bid levels, which will help you get the most from your ad spend and surpass campaign objectives. You will also receive statistically sound insights into each ad set offering a strong command and understanding of campaign performance.
Check out Brian's explanation below.
What’s the EBU% in my ad set name?
EBU stands for Estimated Budget Utilization. It’s a value we calculate and refresh every 15 minutes that tells you how much of your daily budget you will spend based on the bid level for that ad set. When it’s over 90% consistently, it let’s you know that you may want to increase the budget for a top performing ad set. We’re also persisting it for you so in the near future we can provide budget recommendations where we see opportunities to scale top performing bid levels.
I want to try a bidtest on an ad set without a recommendation.
Awesome! Just go into Ads Manager, Power Editor, or any other tool you use to manage FB campaigns and put bidtest at the end of the ad set name. Just like this:
It will kick off in 15 minutes. Make sure to do a hard refresh in Ads Manager for the campaign to see your new ad sets. For each ad set that’s part of the bidtest you’ll see the following in the ad set name:
What is cltrack?
Adding cltrack to the end of any ad set will give you all of the reporting and insights you would get with a bidtest--placement insights, hourly insights, and a letter grade. This is all available in our dashboard without having to do any manual bidding. Perhaps you want to see how and why a campaign's performance has degraded over time or the inverse. Cltrack makes it easy for you to follow the progress of any campaign.
Cltrack is also a great way to find good candidates for bidtesting. As you know, you want to bidtest winners. If you aren't sure whether an ad set qualifies, you can cltrack it. We will grade the ad set and let you know. (You want to bidtest an A or a B!)
Can I use CompanionLabs on any campaign?
CompanionLabs works best on campaigns that have conversions, lead ads, or mobile app installs as the campaign objective. It does work for traffic/website click campaign objectives, but resulting budgets need to be 5x’s the bid amount for the click. CompanionLabs will insert a message (“-- budget too low”) in the ad set name if you need to increase the budget. Please note, you can bidtest campaigns that have custom conversions, but grades will be unavailable in the short-term. You will need to shut off poor performing bid-levels based on the performance metrics you would normally use.
If I want to sign up after my 14 day trial what do I need to do?
All you need to do is enter your payment info at https://app.companionlabs.com. You can also cancel at anytime. If you don’t want to continue after your trial, we’ll deprovision your account and delete all data associated with it.