Facebook Enhances Ability To Measure Adverts
With the massive uptake of Facebook advertising, the network is looking for ways it can help company's using its services to better understand the value they are getting for their spend.
In updating its Conversion Lift tool that was introduced in January, Facebook is seeking to "helps marketers understand the additional business Facebook Ads drive."
The updated capabilities of the tool are designed to assist in the following areas:
Measure Ads Against Each Other
Using a more evolved process, Facebook can now pinpoint which type of ad is most effective for the advertiser's goal as opposed to simply measuring the ad's performance compared to users that did not see the advert.
Investigate The Impact of Different Ad Combinations
The tool can provide insight into whether a single type of ad or a combination produces a better response for the advertiser's intended objective.
Facebook used the example of German shopping club Westwing to explain how they used multiple tests to establish that while both carousel ads and link ads were both effective for their goal but carousel ads were 34% more effective at driving registrations.
Gaining Insight Of Ads Effect Online and Offline
Using conversion data not limited to Facebook actions like emails and phone numbers, the conversion tool can help to understand the effect ads have on creating conversions across multiple channels.
By continually improving the way marketers can see how their ads are performing, Facebook is looking to overcome concerns some have about measuring the ROI of their marketing spend on social networks.