Facebook has made it easier for marketers to track how much business their campaigns are making allowing them to invest only into ads that are doing a good job on the social media platform
Facebook has updated Conversion Lift, a Facebook advertising measurement tool which was launched last January. What does the updated tool offer you? This all new Conversion Tool will help marketers understand which of their ads are working better on the social media platform.
As posted on Facebook’s official blog, Facebook for Business, the site listed a few points to help marketers understand what data will the tool exactly provide:
1. Which ad units perform best for their objective
2. Whether brand and direct response ads work better to achieve the objective than brand ads or direct response ads on their own
3. What value mobile ads are driving
4. Whether lifestyle creative or product-focused creative best accomplishes their goal
Most of the times, advertisers are forced to practice trial-and-error method till they crack the code for making business through ads. As this social media giant makes money through advertising, it is important for the company to pay special attention to the marketing needs of businesses and individual’s.
The Chief Marketing Officer of Westwing, a German shopping club that ran a conversion test study to understand what works best for them – carousel ads or link ads said, “Facebook has given us the tools to test the effectiveness of multiple ad types against multiple objectives in a scientifically valid way, allowing us to quickly act to maximize the efficiency of our campaigns.”
For which campaigns can you set up a conversion lift test?
If you are a business or an individual who market your brand on Facebook, then here is what you need to set up a conversion lift test for your campaigns:
> A campaign that has enough statistics for accurate results
> A campaign that is not live
> Accessible conversion data for offline conversions
Now you need not waste your money on ads that are not working as expected. Invest only in the campaigns that are bringing return on investment.