These features are super cool and worth a try.
1. Split Testing
Split testing is another name for A/B testing. Facebook will test your campaigns on the basis of parameters you select. It also allows testing 3 variations, like A/B/C testing.
You can select one of the following options and Facebook will make variations for you.
You can only test one parameter at a time.
Split testing is available only for these types of campaigns:
How To Create A Split Test?
When creating a campaign in ad manager or power editor you can check the checkbox to create a split test:
At the ad level there are 3 parameters to test:
a. Delivery optimization: optimize the ad set for different ad delivery.
Facebook offers the following techniques to test:
You can select any option to test your ad sets to get the highest value. I would recommend to go with Conversion to see which ad is performing better for conversion. In both variations you can change the bids, and make it manual or automatic. The remaining settings for the campaign are the same as for a normal campaign.
b. Audiences: You can select the audience from your previously saved audience list. You can select 2 or 3 different saved audiences and Facebook will split test those audiences to determine the best performing segment.
c. Placements: There are two types of placements available; automatic and manual. 
Split Test Budget
There are two types of budget methods available:
a. Even split: The budget is divided equally over the two ad sets. 
b. Weighted split: The budget will be split according to the percentages you set.
2. Value Based Custom Audience
Facebook recently added this option in the audience section. To understand the feature you must be aware of lookalike audiences in Facebook. When you create a lookalike audience, you upload a list of customers and Facebook finds the people matching that type of audience.
By adding customer Lifetime Value, Facebook will find an audience that most closely resembles your most valuable customers.
You can create the audience in Business manager -> Audience section.
To use the Value-Based Lookalike feature, upload a list of customer identifiers and include a range of customer values.
3. Fullscreen Canvas Experience
Another feature is a Fullscreen Canvas feature for mobile experience. You can create a custom layout.
When you check the small box ‘Add a fullscreen Canvas’, the field expands to select the template for image, video etc. All templates are optimized for different business objectives such as acquire new leads, sell product, showcase your business. There is an advance template builder available for customized templates as well. You can create your own custom templates to provide an even better user experience to mobile users.
When you select the template, you can edit the text, button, image, link and other attributes according to your business needs.
Impact On Your Business
It becomes easier to reduce the cost of the campaign to get leads. Cost per click is reduced and CTR is better than previous campaigns.
I loved these tools. Hope you will find them useful as well!
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