Originally launched in January, Facebook’s Conversion Lift tool has now been updated.
Aimed at giving marketers a greater understanding of the “additional business” their Facebook ads drive, the updates will help advertisers get a better grip on several different metrics.
Multiple ad comparison
Conversion Lift previously divided advertisers’ audiences into two groups, one of which was a
randomised test group that saw ads and a second which did not see them. The new updated tool allows advertisers to directly compare multiple ads that have the same objective against each other.
A spokesperson for the company said: “As our business evolves and we continue offering a wide variety of ad types on Facebook, our measurement tools need to evolve too.”
“Marketers need to know how not only how effective their ads are at achieving their business goals but also what types of marketing tactics, creative, and formats work best at driving returns. Knowing, say, whether video ads or link ads or carousel ads drive more ROI will help marketers improve their campaigns. This means better returns for marketers and a better ad experience for people,” the spokesperson explained.
The new updated version of Conversion Lift Studies also lets advertisers gain an holistic overview of their ad performance by measuring different purchase channels, such as stores, websites and apps. This multi-channel measurement reveals the overall effectiveness of ads.
When a marketer has the right data, deciding which approaches work best becomes easier and campaigns can be optimised for returns on ad spend.
Facebook says the updates will help advertisers understand whether brand and direct response ads work better to achieve the campaign objective, or if lifestyle creative and product-focused creative approaches work best.
In order to use the updated tool, you need a campaign that hasn’t yet gone live but that will have sufficient statistical power to gain results that are accurate enough to give meaningful insights.
Accessible conversion data can be gained through a Facebook pixel or App Events, or by email addresses and phone numbers for offline conversions.