Confused about whether your Facebook ads are giving you a real return on your investment or not? It seems you’re not alone.
But now, the world’s largest social network has announced a new tool designed to help advertisers see exactly how hard their marketing dollars are working on Facebook.
Conversion Lift Measurement, as it’s known, “allows advertisers to accurately determine the additional business driven by Facebook ads and make future marketing decisions based on this information”.
By tracking the behaviour of Facebook users – online and offline – insights can be gained into their spending choices after being exposed to particular ads. While Facebook takes care of the online data, businesses themselves must submit the offline data associated with in-store purchases.
But tracking conversion lift on Facebook isn’t revolutionary in itself and advertisers have long been able to track ad campaigns. The difference now, however, is that things are starting to get standardised and marketers can open a web browser to garner insights, instead of calling a Facebook ad representative like in the past.
The way it works is actually rather simple, even if the explanation isn’t. Basically, advertisers will create two ‘test’ groups before the ad campaign launches: one that will see the ad and another that won’t. Then, after the campaign has run, the behaviour of the two groups can be analysed to see their results.
Facebook Conversion Lift is just one example of how the Internet’s biggest players are determined to prove to businesses exactly how effective their marketing efforts are in the digital world. By providing tangible insights into consumer behaviour directly linked to ad campaigns, Facebook are raising the bar when it comes to marketing metrics.
While Facebook Conversion Lift will be available globally, it is currently limited to businesses who have a Facebook sales representative. So, for the time being at least, it seems that only the social networks larger advertising advertisers can take advantage of the functionality.
The new capability will be available globally but only to advertisers that have a Facebook sales representative. Right now the company is limiting the service to larger accounts.
Check out the full post on the Facebook for Business site for more information.