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The value of social media to business and Internet marketing is often hard to determine. But Facebook would like to help. Yesterday at OMMA Social, Facebook’s direct response solutions manager Brian Boland announced a conversion tracker tool from the most popular social network. Designed to complement Facebook Connect, the tool is already in testing.
The conversion tracking tool being tested by a “handful” of Facebook advertisers doesn’t have a launch date, but Boland believes it should become available sometime before the end of March. A JavaScript snippet will go into the Web page. Marketers will have an option to set up multiple tags to track numerous conversions.
Reports will provide a list of tracked conversions and the impressions and the clicks that led to each. The feature will help marketers build out messages as the campaign expands into a variety of pieces.
Like Facebook Connect, this tool will especially help with brands’ fans. In fact, Boland says, it will help determine fans’ acquisition cost and value to brands.
You can see Boland’s full presentation here:
What do you think? Will this mark a turn around in calculation social media ROI?
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5 comments on “Facebook Planning Conversion Tracker Tool”
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Andrew M. Says:
January 27th, 2010 at 3:23 pm
This is good news for a lot of advertisers that aren’t sophisticated enough to take full advantage of Google Analytics conversion tracking capabilities. I’ve worked with several clients on tracking FB ad campaigns and social media interactions but nailing the CPA is difficult no matter how robust the implementation. I’d like to see more about conversion attribution of other events and brand interactions. Hopefully that is coming at some point.
.-= Andrew M.´s last blog ..Attention: The Most Finite Resource =-.
Babar Baig Reply:
January 27th, 2010 at 5:20 pm
hmm its pretty easy to measure the CPA for FB. If you use analytics tracking with ecommerce enabled – or just take the goal funnel activity for FB users and divide it with cost spend on FB and you will have your CPA.
Pinkmatic Says:
January 28th, 2010 at 2:22 am
Good news for a lot of advertisers that don’t want to use 3rd party conversion tracking tools.
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January 28th, 2010 at 8:27 am
[...] Facebook Planning Conversion Tracker Tool [...]
The Fifth Estate? | b r a n t s Says:
February 3rd, 2010 at 11:38 pm
[...] local businesses are listed. Meanwhile, it is trying to provide tangible business value too, from a conversion tracker to encouraging users to set up their accounts for news reading, it is now trying to dislodge Google [...]