Facebook strives to make its platform as advertiser-friendly as possible. The social media giant has launched a new conversion measurement and optimization feature, which is specifically designed for direct response marketers. The new tool, rolled out globally, will help make the advertising on the platform more relevant and tailored to the target audience by tracking the performance of the ads on Facebook pages.  

Pic.: Facebook launches its conversion measurement and optimization feature, www.facebook-studio.com

With the new self-serve feature, which was launched in testing mode back in November 2012, marketers will be able “to measure the ROI of their Facebook ads by counting relevant user actions, such as registrations and shopping cart checkouts, that are driven by people seeing an ad on Facebook,” says Facebook Studio in its blog. Using the newly-launched feature, markets are able to use conversion measurement for two major purposes—to understand the ROI of their ad spend (see if it is effective) and to improve ROI on future campaigns. The new tool is applicable to measure performance of all Facebook ads and sponsored stories with any targeting specifications.

The feature has been already beta-tested successfully by a bunch of advertisers. “Beta tests have shown that when conversion measurement is used with optimized CPM, ads reduced the cost per conversion by 40 percent when compared to CPC ads using the same budget,” says Facebook. The new feature works for cross-platform campaigns as well—it can analyze when a user sees an ad on one device (e.g. mobile phone) but converts on another (desktop computer). Facebook says that the conversion measurement and optimization will primarily benefit marketers in e-commerce, retail, travel, financial services, and other direct-response industries.

Facebook unveils a simple start guide:

1. Click on the conversion tracking tab in power editor in Chrome (www.facebook.com/ads/manage/powereditor/) or on the conversion tracking link on the left hand nav in ads manager (www.facebook.com/ads/manage)

2. Create your conversion tracking pixel(s) and implement it on your conversion page(s)

3. Once the pixel has been placed on your website, create ads and select “track conversions on my website for this ad”

4. Set a budget and choose optimized CPM to deliver the ad to people most likely to convert.