Facebook has announced the worldwide availability of its new conversion measurement and optimisation system for direct marketers. Advertisers can measure ROI of the social network’s ads by totting up relevant user actions that occur when people view their media.
Conversion measurement records user actions such as registrations and shopping cart checkouts. Facebook states it’s the first of its kind for reporting when a user views an advert on one device and then converts on another.
Optimised CPM (OCPM) is also being made available internationally. The new metric can be used in conjunction with conversion measurement. It shows media to the consumers who are most likely to convert on the advertiser’s website.
Better understand ROI
E-commerce, retail, travel, financial services and other direct-response marketers all currently use Facebook ads and sponsored stories to drive specific action on their websites. With conversion measurement, the same advertisers will be able to understand ad ROI and improve future campaigns.
Clicky Media Director, Sam Gadsby, social marketing may be reinvigorated. “The new system could revolutionise the social ads platform which has consistently been under scrutiny by advertisers and ultimately bring an end to Facebook CPM or CPC bidding as we know it,” he said.