Facebook Attribution Now Available
Last year, facebook began testing to help businesses compare the success of campaigns across platforms. Now, they're introducing Facebook Attribution, a new measurement tool that's free to use and designed to give marketers a more holistic view of the customer journey, both on and off Facebook. Having seen the importance of attribution as a service, especially bigger corporates, its exciting that facebook are investing in this space which has been dominated by google.
You can use Facebook Attribution to:
Assess the impact of cross-device behavior
Identify best-performing campaigns, publishers or channels
Identify best-performing campaigns and platforms within Facebook's family of apps and services
Determine the estimated incremental impact of Facebook campaigns
Compare the value of prospecting vs. retargeting campaigns
To learn more, click the link below:
Retention optimisation is now available
Retention optimization is a new optimisation type for app install ads that enables you to deliver ads to people who are more likely to open your app on either day 2 or day 7 after installing.
With four new metrics in Ads Manager, you can also see how your install ads are optimized for day 2 and day 7 retention. Retention optimisation is simple to launch and does not require any additional implementation if you have the Facebook SDK (or equivalent from the Mobile Measurement Partner SDK) installed.
Introducing Split Testing for Campaign Budget
Optimization in Test and Learn:
Test and Learn allows you easily create advertising tests that help identify the strategies that work best for your business.
You can select one facebook pre-populated questions such as;
How much impact are all my Facebook ads having on my business?
With this test we'll measure the conversion lift of all your ads on Facebook. We then determine how many additional conversions your Facebook ads contributed to your business goals.
Which campaign causes the lowest cost conversions to occur?
With this A/B test we'll compare 2 campaigns by calculating your conversion lift, cost per conversion lift, sales and return on ad spend. Then we will declare a winner based on which campaign showed the lowest cost per conversion lift.
Will setting a campaign budget improve performance?
You can set a budget at the campaign level, which will dynamically spend your budget on your highest performing ad sets. Try A/B testing an existing campaign against a version using a campaign budget. When the test is complete, you can see which version gives you more consistent results for your money.
To get started:
The test can only run if you have a campaign with multiple ad sets that have the same bidding, budget and optimization strategies.
The test will run for 7 days, after which you can access the results within the learn tab in Test and Learn.
Click on the test to be taken into Ads Manager to see the performance comparison at the campaign level.
Advert Quality Guidelines
Facebook also announced new standards on low quality attributes which have come into place with immediate affect. This is positive, as much deserved stick facebook have received this year, they still have one of the best ad approval systems across the advertising eco system. Below are the types of ad that will have reduced delivery.
Creative compass for FMP's including SME consultants
The social network has begun testing its Creative Compass tool with select partners, with the aim of rolling it out to all partners sometime next year. Also announced at the Global partner summit in New York was the creation of Facebook Marketing consultants
The first round of Facebook Marketing Consultants come from North America, the UK, France and Germany. “Beyond agencies, we know there are individuals and qualified professionals who can help businesses grow, so we’re testing a new program called Facebook Marketing Consultants to connect advertisers with vetted professionals to fulfill demand for technology implementation services such as pixel deployments, product catalog setup and dynamic ads campaign setup.”
Creative Compass enables partners to measure the impact of ad creative by examining key elements including visual aspects, brand association and fit so that they can determine how likely people are to take action after seeing an ad.
I'm excited to have passed the facebook consultant exam and using this product with clients in the future, if you'd like to talk about the above and how it can benefit your business please don't hesitate to get in touch with me.