Once you have accurate revenue data from your Facebook Ads Manager (check the integration details here), you can dive into your results for each campaign.
Customize columns to see purchase metrics. Click Columns → Customize Columns
Select the Purchases metrics you want to track:
Check your ROAS and make the right decisions for your advertising campaigns
Check your revenue in the Revenue section of Facebook Analytics.
With real revenue conversion events, you can create a high-performance, value-based audience.
A Lookalike Audience is a way to reach new people who are likely to be interested in your product. If you optimize your ad campaigns with your revenue events, Facebook will target a similar audience who are likely to take the same action (i.e., pay for your product). Read more about Lookalike Audience.
Go to your Audiences:
Click the Create Audience dropdown and choose Lookalike Audience:
Choose your app, then Purchase or Subscription Event:
Select an Audience Location. (You can choose All Countries if you do not have enough events from a single one):
Select an Audience Size from 1% to 10%. A smaller audience size will produce more narrow targeting. Make sure you have enough people in your audience by checking the estimated reach. Increase the audience size if the estimated rich is too small.
After your Lookalike Audience is ready, you can create new campaigns in your Ads Manager with Purchase Lookalike Optimization.