When picking your bid type, you can choose to have your campaign optimize for installs by selecting App Installs as your optimization method. This is the recommended approach if your goal is to maximize the reach of your application and your main criterion is reduced cost per new customer installation.
Not recommended. This option is provided as a fallback for small-scale advertisers who haven't installed the Facebook SDK. It is recommended that you install the SDK and use one of the more powerful optimization techniques.
App event optimization is the ability to display mobile app install ads to people likely to take a specific action in your app. For example, if you are looking to acquire people most likely to make a purchase in your app, you can choose to run mobile app install ads that would optimize for the purchases event.
The value of using app event optimization is that, beyond new installations for your app, you will also acquire people who are likely to take a specific action that is of value to your app or business. For example, if you are running a fundraiser, you can optimize on the Donate event. You can choose from any of the standard app events.
To use this feature, you must have app events enabled.
When you select your optimization goal, you can now choose to optimize for App Events. Once selected, you will see a list of the 14 standard app events. You simply select the one that you would like to optimize for.
This feature is charged on an impression basis, similar to how you are charged when you optimize for installs. The difference is that your ads reach people most likely to take the action you specify, not just the ones most likely to install your app.
You can choose to have your campaign optimize for people who are likely to generate the most revenue given period after making a purchase. A purchase event that generates a lot of revenue relative to its cost is considered “higher value” than one that generates less revenue relative to its cost.
For more information, see About Value Optimization in the Help Center.
As of v3.3 of Marketing API we no longer support this optimization goal for App Ads.
You can choose to have your campaign optimize for video views by selecting Video Views as your optimization method. This is the recommended approach for advertisers whose top objective is to increase awareness of their app and who want to be able to leverage app ads features like exclusion targeting and App Ads CTAs.