💵 Meta Cash Rewards 💵 Check Your Account!
Back in June, Meta started rolling out Cash Rewards: Customers earn cash rewards on purchases they make on your website. The percentage the customer can earn in cash rewards will vary and is optimized to each customer by Meta. For a limited time, Cash Reward offers will be paid for by Meta, so it’s a great opportunity to try this on your ads! Some accounts have been auto-enrolled, so make sure to check this setting at the ad level in case you have been.
Only about 30% of your audience will see this reward offer, the percentage will gradually increase as this feature improves.
We decided to put Cash Rewards to the test in an AB study, and here are the results:
The ads with Cash Rewards had 18% fewer sales and 23% higher CPAs than ads in the control group, according to Meta data. While the CTR between the cells were similar, the ads with cash rewards had slightly less landing page views. Definitely not what we were expecting!
Interested in Cash Rewards? Here’s what we think:
- Check with your Meta rep and ask if there have been improvements to Cash Rewards. While this first round of testing had negative results, Meta is always adjusting their products to make them better for their advertisers!
- Cash Rewards is still being funded by Meta: Now is a great time to test this out while the rewards are still being fully paid for!
* Meta has discontinued Cash Rewards. Your account won’t be affected if you were opted in, cash rewards have been removed from your previously opted in ads and they are delivering normally.
Reach out if you would like to hear more about our testing strategies with cash rewards at email@example.com