Advertisers on Facebook are always concerned about – does my ad actually convince people to buy my product? Earlier this year, Facebook initiated the process of solving this problem with the roll out of Conversion Lift measurement tool.
Basically, it meant any advertiser with a direct relationship with Facebook was able to perform studies on whether their campaigns led to an improvement in online and offline sales, as well as other conversions. “What’s really important to the marketers is figuring out what exactly is working, and more importantly what’s not working in their marketing campaign, so they can invest more money in the things that work and they don’t invest in the things that don’t work,” Brad Smallwood, Facebook’s vice president of measurements and insights said.
Now Facebook is unveiling an improved version of its Conversion Lift measurement tool. “Today, we’re adding new capabilities to Conversion Lift that help marketers understand exactly which of their Facebook ads are driving their ad objective best. The updated Conversion Lift measurement tool helps advertisers make more informed marketing choices, so they can continue to grow their business,” said the company.
“When we’ve gotten feedback on the Conversion Lift stuff, one of the big improvements we were asked for was, ‘I want to be able to test more things as I run campaigns, as opposed to just finding out if it worked,’” said Brad.
Up until now Facebook measured the effectiveness of campaigns by separating an advertiser’s audience into two groups: a randomized test group that sees ads and a control group that doesn’t. But now advertisers can compare multiple ads with the same objective against each other, so they can not only see if Facebook advertising is working but exactly which advertising approaches work the best for their goal.
For instance a German shopping club, Westwing ran a conversion lift study with multiple test and control groups to determine whether link ads or carousel ads were more effective at driving registrations. They found that both marketing approaches were effective for their goal but that carousel ads were 34% more effective than link ads at driving registrations.
Besides the new improved Conversion Lift measurement tool will also allow advertisers determine:
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
Additionally, conversion lift studies can now be set up to measure lift across purchase channels, like stores, websites and apps, so advertisers can get a holistic view of their ad performance. “Multi-channel measurement shows the advertiser the overall effect their ads contributed and can also be viewed by channel to see how the ads drove sales in store, online or in app.”