Facebook announced the global launch of its conversion tracking tool, in order to help advertisers measure and optimize their ads leading off-Facebook.
This new service allows marketers to place a piece of code on a Web site (e.g checkout pages or registration forms) to track when desired actions are driven by someone seeing an ad on Facebook. When marketers choose the Optimized CPM bidding option, they can see which ads drive the most conversion and adjust their campaigns accordingly.
This should be extremely valuable in the near future, especially for marketers in e-commerce, retail, travel, financial services, and other similar industries that value actions taken on their websites. In addition to that, this new tool will allow conversion tracking even for smaller advertisers who are using Facebook ads to drive online actions. All of the above online actions will be reported in the ads manager.
Facebook claims that it is the only analytic tool that can show when a person views an ad on one device (such as their phone) but converts on another (their desktop computer or tablet). One can also suggest that since Facebook has also expanded mobile advertising dramatically since last spring, this service is suited to tracking performance in cross-platform ad campaigns.
The key is the combination of conversion measurement and Optimized CPM, which allows advertisers to set their marketing goals, and then have Facebook’s system automatically serve ads in a way that achieves those goals more efficiently than ever before.
One thing is certain: Online Advertising via Social Media will keep evolving and providing marketers and brands with new & exciting options!