Facebook originally announced v2.4 of the Facebook Marketing API in July of this year. As the time to transition away from v2.3 ends today, developers should be aware of the forced changes that will take place tomorrow. Per usual when it comes to new API versions, a host of new features available in v2.4 comes at the deprecation of older API features that many developers have come to rely on.
The three new features that Facebook touts as the major selling points of v2.4 include optimization simplification, CPC updates, and labels APIs. Optimization simplification is achieved by decoupling bid fields into three separate fields: optimization goal (i.e. what the advertiser optimizes for), billing event (i.e. what the advertiser pays for), and bid amount (i.e. value to the advertiser associated with an optimization goal). The CPC updates focus on link clicks to make advertisers' campaigns more effective. In v2.3 and earlier, any action taken within an ad (e.g. like, comment, share, etc.) counts towards CPC. In v2.4, link clicks are separated from engagement clicks. Finally, Facebook will introduce labels APIs. The new labels APIs allow developers to tag campaigns and other ads with labels (i.e. custom strings). The new APIs allows for better organization and query ability.
With the release of insights edge, Facebook will deprecate older insights APIs (i.e. stats, conversion stats, and reports stats APIs). Further, the labels APIs allow for the deprecation of the older ad tags API. For a complete list of changes and deprecated features associated with tomorrow's release, visit the changelog. Since the announcement was made back in July, the developer reaction to the changes have been mixed. Good, bad, or indifferent, the changes will take effect tomorrow, and developers have hopefully prepared. For the sake of a healthy developer community, let's hope that Kenshoo Product Manager, David Zelniker, was correct when he told the Social Times that he expects v2.4 to deliver transparency, simplicity, and opportunities for advertisers of all skill levels and sizes.