One of the hardest aspects of running a successful marketing campaign is identifying which components of it actually led to converted leads. If you roll out an effort to increase sales that includes several channels – email promotions, viral marketing and traditional mail, for example – it is extremely difficult to know which of those efforts actually had the largest direct effect on sales. However, improving technology has made it easier than ever for businesses to track different initiatives.
To help in this mission, Facebook recently announced the release of a new feature that will allow retailers to track which of their sales came through ads they posted on the social networking site.
“Measuring ad effectiveness and outcomes is absolutely crucial to all types of businesses and marketers,” David Baser, a product manager for Facebook, told Reuters.
The new service, which Baser refers to as a “conversion tool” can help companies identify which ads are the most effective at creating sales and compare the effectiveness of various ad channels, which can take some of the guesswork out of marketing your business.
Although the sales information you receive is anonymous, it still contains valuable information about how successful a certain ad was in leading to sales. According to the Wall St. Cheat Sheet, Facebook’s new tool is already being coveted by marketers, as it allows them to track conversion data over weeks and even months. With this information, internet retailers will be able to tell if their ads are quickly turning to sales or helping them build their brands in the long run.
Have you tried Facebook’s new conversion tool to see if your attempts at branding your business on the site are paying off?