News January 2023 (#10)

TLDR
- Subsription Multipler
- Lazy Load the Pixel Manager
- TikTok Events API
News January 2023
We skipped the newsletter in December. We didn't want to release any major features in the Pixel Manager during the high season (only minor tweaks and bug fixes).
But we've been working on some new features and improvements for the Pixel Manager in the background and released them just a few days ago.
In this newsletter, we'll cover several tweaks and significant improvements released since the last newsletter.
Subscription Value Multiplier
The subscription value multiplier helps to track the conversion value of subscription products more accurately.
The conversion pixels typically only transmit the product value of an order when it is placed by a customer in person. That means that the conversion pixels fire in the browser when the customers reach the purchase confirmation page.
However, for subscription renewals, that doesn't work. They are processed automatically in the background without interaction from the customer. That means that the conversion pixels don't fire as usual.
And a subscription customer's lifetime value (CLV) is much higher than the initial order value. So, we need to track the CLV of subscription customers more accurately.
Imagine that, on average, a subscription to a 10$ product lasts for 12 months. That means that the CLV of a subscription customer is 120$ (10$ x 12 months). So we want to train the bidding algorithms to bid higher for subscription customers. And to do that, we need to adjust the conversion value of the subscriptions on the first purchase.
The Pixel Manager now offers a subscription value multiplier setting that allows you to adjust the initial conversion value of subscription products. Taking the example above, you can set the subscription value multiplier to 12. That means that the initial conversion value of a subscription product will be transmitted with 120$.
Here's how to set up the subscription value multiplier.
