In 2004 the meaning of friends changed forever with the introduction of Facebook. Keeping up with Facebook's lingo can sometimes be harder than keeping up with the Kardashians but we hope these 23 terms can help you not only walk the walk but talk the talk! Get to know these Facebook meanings as well as you know your friends, what's not to like!

• Ad auction: A component of ad delivery through which you declare the maximum price you're willing to pay for a click, impression, or conversion.
• Ad set: A group of ads that share the same daily or lifetime budget, schedule, bid type, bid information and targeting information.
• Ads Manager: An interface where you can view, make changes and access performance reports for all your campaigns, ad sets and ads.
• Attribution: Also known as "Facebook Attribution," Attribution is a Facebook measurement solution that allows you to see which platform, channel, device, ads or content should be credited with a conversion.
• Audience Network: A network of mobile app publishers who have been approved by Facebook to show Facebook ads in their apps.
• Bid: The price for the outcome you're optimizing for.
• Bid cap: A bid strategy that lets you set a maximum bid Facebook can use in each auction.
• Brand Awareness: A campaign objective option in Ads Manager. Select the Brand Awareness campaign objective if you want people to recall and recognize the brand after seeing your ad.
• Brand lift: Also known as "brand affinity," brand lift is a metric that gives you insight into people's attitudes towards your brand and Brand Awareness.
• Conversion window: Allows you to choose what type of conversion information Facebook will use when determining who to show your ad to.
• Day-parting: Also known as "scheduled ad delivery," day-parting is an ad delivery option that allows you to specify certain hours and/or days of the week when your ads should show.
• Dynamic ad: An ad type that can show a number of different products to an audience and choose the most relevant product to show to each individual in the audience.
• Event: A logged action that people take on your website, app or offline usually used for capturing and measuring ad performance.
• Facebook pixel: A piece of code installed on your website that captures website events.
• Instant Experience (ad format): An interstitial landing page that loads instantly when someone taps on an ad on Facebook or Instagram. They are only supported on mobile placements and devices.
• Learning phase: In Ads Manager, a period of time where the delivery system is collecting information to optimize ad delivery. This term refers to the machine learning of the Facebook system, not your learning.
• Lifetime value (LTV): The measure of the total value (such as total purchases) attributed to a group of customers using a third-party developer app.
• Lookalike Audience (LAL): A group of people who are similar to an existing audience, allowing you to direct your ad to people who “look like” your established customers.
• Offline conversions: Allows you to measure how much your Facebook ads lead to offline outcomes, such as purchases in your stores, phone orders, bookings and more.
• Pacing system: A component of ad delivery where Facebook tries to measure and project a campaign's end date to spend your budget as evenly as possible over the lifetime of your ad set.
• Retargeting: An advertising approach aimed at re-engaging people with who you've previously seen, previously engaged with or who have taken action on your website, app or offline business.
• Split test: Also known as "A/B testing," a split test is a study that allows you to conduct a controlled experiment comparing multiple ad sets to see which performs the best.
• Target cost: A bid strategy that enables you to prioritize getting a stable cost per optimization event. Facebook will try to keep costs as close to the amount you want as possible.