Facebook offered a new marketing tool which gave online retailers the opportunity to track what Facebook members who have viewed their advertisements are buying. With this new tracking tool, Facebook hopes to woo marketers to use part of their advertising budget for marketing in the social networking site.
According to David Baser, Facebook ad business product manager, “measuring ad effectiveness and outcomes is absolutely crucial to all types of businesses and marketers.”
Baser calls this tool the conversion measurement tool, and says this has been demanded and requested for by their top customers for quite some time now. It works for direct response marketing, e.g. travel sites and online retailers. Long-term brand building is not the main concern.
Addressing privacy concerns, Baser says that Facebook user information that advertisers will receive is anonymous. Personally identifiable information will not be available to protect the privacy of these users.
Debra Aho Williamson, an eMarketer analyst, says that this tool “lets marketers track the impact of a Facebook ad hours or days or even a week beyond when someone might have viewed the ad. That allows marketers to understand the impact of the Facebook ad on the ultimate purchase.”
Facebook launched a related service for measuring conversions a few months ago this year, it was aimed for large brand advertisers in partnership with Datalogix, a data mining business, aimed at finding the connection between brick and mortar purchases and Facebok ads.