The Ads Manager section for Facebook Business helps marketers to determine the right efficacy and right source of ad views. If a user takes action on an ad, it becomes difficult to understand which point of source is responsible for the action taken. Be it impressions or link clicks; it is important to know which parts of the advertising displayed in Facebook actually drive the expected outcomes from the ad.
In order to improve its efficacy, the social media giant has now launched a new Attribution Dashboard. Re-christened simply as Facebook Attribution, the new ad measurement tool aims to provide more insights to ensure precise attribution for better ROI on marketing campaigns.
What is new?
For marketers who wish to optimise their ads, the new Facebook Attribution tool can provide some effective ways to measure the performance. Facebook enables smarter decision making with the help of insights delivered in exciting ways. For instance, it helps you gauge the efficacy of each element of the Facebook presence. When used with Pixel Data (an analytics tool that helps marketers in retargeting), the tool can provide accurate data about how each of these elements is working in influencing your digital business revenue.
Marketers can also detect the exact source which is driving the conversion. This helps them provide a more concrete connection between the ad viewed and the outcomes achieved. They will also be highly interested in the concept of data-driven attribution modeling. This lets them track, monitor, and measure the approximate impact of your marketing campaigns across multiple social media sites like Instagram, Audience Network, and of course, Facebook.
What does it mean for marketers?
Measuring ROI from social media campaigns has been tricky most of the times, especially when there can be multiple attributions to an action undertaken by a social media user. It is difficult to correlate which action translates to what kind of concrete action away from the digital landscape. So if you are looking for social media attribution for an in-store conversion, it is highly complex if not entirely impossible. In this scenario, it will be safe to say that Facebook Attribution can be of help in tracking how social media drives specific outcomes for businesses.
For marketers, there is still a long way to go in terms of harnessing best results from the new reports and analytics presented by the Facebook Attribution tool. It is suggested to do some playing around with the tool to understand it in depth before assessing how useful it is for your specific use case in marketing and advertising.
Facebook attribution comes in extremely handy for social ROI proof. So marketers can better look at the data points that impact the outcomes from specific ad campaigns. There is still a long way to go before it can accurately correlate online triggers to offline actions. But the fact remains that as compared to its earlier avatar, Facebook Attribution does provide much better clarity on the impacting factors around Facebook advertising.