Facebook Ads Manager New User Interface
Facebook's new Ad Analytics, designed for ad managers looking to dive deeper into analytics to know more about how their paid campaigns are performing can now dive deep down - as over the next couple weeks Facebook will roll out more granular metrics intended to provide a more detailed view at what sort of actions resulted from specific Facebook ads, said Facebook's product manager for Pages Insights David Baser.
Previously advertisers had only been able to measure page links or app installs. The new measurement system will be available for all Facebook ads but is designed for ads that direct on-site actions, said Baser.
The new feature -- "Action Measurement" -- will appear as a column and pie chart in Facebook's Ads Manager and will help marketers tailor ads for relevant consumers.
Marketers soon will be able to track "any action that can be taken on Facebook downstream from an ad," per Baser, the actions brands will be able to measured "could be anything [such as] number of likes, commenting or sharing a page post, claiming an offer, or, instead of just installing an app, actually using an app or doing things within an app."
"The marketers will specify what actions they are interested in," he said. "So you choose the goals for your ad campaign, and then we'll measure that. That's everything involved with the 'People Talking About This' [data]."
"We're trying to figure out who is most likely to take that action. It will take some time and data to learn and get really good," Baser adds.
On top of the new metrics Facebook is opening up the attribution window so that advertisers can trace an action like a comment back to an ad served up to 28 days prior. Given the industry-wide challenge with online ad attribution, and the general disdain for last-click attribution, the broader window could help Facebook cut into search budget allocations.
Social Commerce Technology firm Want's Greg Links, said Facebook's new analytics could help retailers get a better glimpse of purchase intent and other reasons "why consumers are on the site." "To get down to that granular level," Links said, "is certainly something we haven't seen before in social commerce. That's pretty exciting."
Additionally the broader suite of analytics will result in expanded ad optimization capabilities through Facebook's Ads API. "This isn't just an analytics feature; it's an optimization feature," adds Baser. On top of optimizing for page likes or app installs, advertisers should be able to boost metrics such as offer claims, Facebook's "People Talking About" metric, app use and "even potentially sales within an app," Baser said.
Baser said he hopes the new analytics offering will incentivize advertisers to optimize Faecbook campaigns toward improved user engagement rather than simply accruing clicks. "This is definitely something that we think, because of the Offers product, will have a big impact to the local space," he said. "It will help the local marketer understand the paid campaign helped them."
"I think everyone ranging from the biggest brands to the smallest marketer will benefit from getting a lot more clarity into what kinds of things are able to drive their ad campaigns," he said. "They will be able to take optimization to the next level."
For example, you might be most interested in serving ads to users who share your content on their news feed, or those who redeem one of your Facebook Offers. Instead of guessing who is most likely to take this action with a mix of pseudo-demographic targeting and hocus pocus, Facebook will help you identify those people based on conversion data 1, 7, or 28 days after their clicks. So if an ad you served 7 days ago resulted in high-ROI activity for you, like an app install, you can attribute that back to the proper advertisement.
Here's the full list of downstream conversion events can you now optimize:
- People talking about this
- Page likes
- Page post likes
- Page post comments
- Page post shares
- @ mentions
- Photo tags
- Facebook Offers shared
- Facebook Offers claimed
- App installs
- App used
- App credit spend events
- App credit spend amount
- Number of RSVPs