Facebook has launched a new conversion measurement tool as it looks to improve its services for Internet marketing campaigns.
With the social media giant’s stock market flotation, the actual value of Facebook as a business – and not just a global online meeting point – has been brought into question.
Facebook’s advertising reach is huge: as is the ability to present niche, targeted ads to the right customers.
Despite this, the return on investment on Facebook advertising has repeatedly been questioned.
The latest move is designed to further aid those using Facebook for Internet marketing – just in time for the festive season.
According to the social media giant, the latest addition to its Ad Manager platform will allow users to understand the effectiveness of their ad campaigns and plot ways to improve them in the future.
The new tool offers similar options to PPC marketing tools on Google.
Product manager for Facebook’s ads business, David Baser, said: “Measuring ad effectiveness and outcomes is absolutely crucial to all types of businesses and marketers.”
Although Facebook has targeting options, display advertising is currently dominant on the site. Users will notice ads related to their interests – such as similar bands, video games or gadgets – but also see picture-lead retail ads, giving retailers a more traditional kind of ad platform, akin to a newspaper, compared to Google’s direct search-related ads.
The new tool should provide a better method of analysing the effectiveness of advertising on the social media platform. With over a billion users, there are certainly enough customers to reach with an effective strategy.
The tool counts traffic generated from clicks on Facebook ads, which then takes the customer to a designated retailer landing page.
The tool is set to launch globally at the end of the month.
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