Facebook has launched a new conversion measurement tool. This tool will be extremely useful for online marketers looking for a link between social ads on Facebook and online sales. As per a report in Reuters, Facebook was swamped with requests for this feature. David Baser, Facebook’s ads product manager said, "Measuring ad effectiveness and outcomes is absolutely crucial to all types of businesses and marketers.” The Conversion tool will track all conversions including: sales, to registering for newsletter, or taking any other desired action.
Till now marketers did not have any tool to identify the buyers who came in as a result of Facebook ads activity. But with this new feature retailers will know what sales to directly attribute to Facebook. They can understand and track the impact of Facebook ads which led to the final sale. Facebook has said that marketers can now see the response to their ads and then target them to a batch of the audience which is most likely to respond in a fruitful manner- as in make a sale.
The tool was tested by online retailer Fab.com, and it saw a reduction of 39% in its cost per new customer addition- after showing ads to the users who had the highest probability to convert.
The feature is a great thing for marketers, but it will put Facebook in the center of the arena as well- marketers will finally know if the huge views and clicks of Facebook Ads do actually lead to sales or not!New Conversion Measurement Tool Rolled Out by Facebook!,