Facebook has announced two new tools to help marketers gauge the effectiveness of ads on the social networking website. “Lift API” feature helps many more advertisers, Facebook’s marketing partners and other third-party measurement partners create their own lift studies for conversion rates, sales and mobile app installs. It builds on the Lift measurement tool Facebook initially announced in January this year which has since been employed by more than 1,000 businesses in various industries to gauge Facebook ads’ effectiveness across their objectives, adweek.com reported on Sunday. Also Read - Facebook smartwatch to feature cameras alongside fitness functions: Yes, detachable cameras!Also Read - What happens to your Facebook account after you die?
The second tool (yet to be named) attempts to tackle how marketers often encounter problems with understanding which ads lead to conversions (sales, forms filled out, etc.) due to cookies. Both the tools have been characterized by Facebook as tests.
Facebook is testing new fields and categories in its ad reporting which “will help advertisers understand which ads people saw or clicked on before a bottom-funnel conversion, such as making a purchase or becoming a qualified lead,” a Facebook representative was quoted as saying.
“We believe in people-based measurement and measurement methodologies, which more accurately show which ads are driving business value,” the representative added.
Facebook is the latest notable player to unveil insights upgrades for advertisers, with Snapchat, Foursquare and other tech vendors also recently making waves with measurement offerings.