Facebook advertising has already proven itself to be a very useful and effective means of marketing online but now it has become even simpler to allocate the appropriate funds into Facebook advertising due to greater insights into campaign results.
The Facebook Conversion Lift Tool
Facebook ushered in 2015 with the launch of its Conversion Lift tool for greater measurement of Facebook advertising data. The Conversion Lift tool worked by comparing a group of people who had seen a Facebook ad (the ad group) with a group that did not see the ad (the control group). Marketers were able to learn to improve upon what worked and what did not work on the social platform in order to better hone their marketing strategies and thus improve the efficacy of their campaigns and thus sales. It was a great improvement upon earlier Facebook advertising data which only served to measure instant results such as immediate clicks and spending following the viewing of an ad.
Improvements on Insights
The Conversion Lift tool has now been expanded and improved upon for greater measurement for marketers to find out more details regarding the efficacy of their ads on the network. Different Facebook ads may now be tested, similar to the methods of direct marketers. As opposed to how the Conversion Lift tool once only utilized two groups (an ad group and a control group), the updates to the tool allow for the testing of multiple ad groups as well as multiple control groups. This offers greater accuracy of information and more detailed insights as well as the ability to test more than one ad running at the same time, desktop vs mobile ads, creative lifestyle ads vs product-focused ads and so on. It’s even possible to glean some insight into your online advertising campaigns running outside of Facebook due to the increase of information. This more specialized data is also more effective because viewing an ad may have an influence and create conversions (both online and offline) without leading up to immediate purchases. This new measurement system allows for marketers to measure the impact a Facebook ad has on various channels including brick-and-mortar stores and websites.
With advertising updates at Instagram, a Facebook owned company, it will be interesting to see if the Conversion Lift tool or a similar system will soon appear on the social network as well.
