According to Joshua Opoku, the lead for Facebook Mix Marketing and their Attribution Lead Rob Creekmore, the new marketing mix will go live within the next two weeks or so. It’s believed that a major retailer has already begun using the data in the last couple of months to determine how much return they’ve been getting on ad spend per dollar spent. According to Mr Opoku, the retailer in question had been pleased by the results.
Currently, the data feed is available to brands in general. However, Facebook wished to create something more in depth for retailers who sell products from a lot of different brands. The new data will allow the larger firms to easily compare metrics compared to their results from other avenues such as print, radio and TV.
According to Mr Opoku, the new system will show how valuable Facebook can be in terms of generating revenue, and will demonstrate that the network can create a better return on ad spend than TV can.
Interestingly, the new data will also allow Facebook to measure how well their adverts are performing when compared to other competing platforms.
The overall goal, Mr Opoku said, was to give advertisers a more in-depth understanding of exactly what the Facebook metrics mean in terms of how likes and shares generate genuine sales.