Facebook has officially begun rolling out the beta version of their ad conversion tracking tool to a small group of advertisers on the site. As Facebook describes the service, “Conversion tracking allows you to track activity that happens on your website as a result of someone on Facebook seeing or clicking your Facebook Ad.” It’s a feature which Google has offered within their Analytics and Adwords product for sometime now, and Facebook is finally beginning to roll it out for their advertisers.
The new service, which is pictured below, is pretty straight-forward. Advertisers can assign a specific value to an action on their website. The result is that you can effectively determine the ROI of your Facebook advertising campaigns. While we’ve been looking for Facebook to provide similar conversion metrics for Facebook Page administrators, this is a great start for providing greater insight into ad campaigns.
While we’re expecting Facebook to roll-out the new conversion tracking tool to all advertisers in the near future, Facebook is continuing to test out the service among a small group of Facebook advertisers. While we don’t yet know how the reports will looks, this will save a lot of time for advertisers who currently need to dump their data into spreadsheets and cross-reference that data when tracking ad spend ROI (return on investment).
Are you one of the few advertisers who can currently test the ad conversion tool?
Thanks to Sam Goldfarb of Tradimax for the tip!
My company, Bulbstorm, has been given access to this and it looks like an incredibly helpful tool. We have a new NASCAR promo launching tomorrow. We’re looking forward to mining deeper insights out of the supporting ad campaign.
Nick, shoot me an email and we’ll report back next week! matt at bulbstorm dot com
Simply Genial! I can’t wait to see some initial results. And am looking forward to the roll-out
We are from Blugrapes (http://www.blugrapes.com) and we have access to the conversion tracking tool too. Should be highly interesting as we roll out some pilots for our clients here.
We’ve posted our initial thoughts on Facebook’s Ad Conversion Tracking beta to the Bulbstorm blog. If you’ve had a chance to play with the new features, we’d love to get your thoughts as well! Check it out:
http://www.bulbstorm.com/blog/2010/3-early-thoughts-on-facebook-ad-conversion-tracking/
I’m struggling to see the benefit of this compared to, say, Google Analytics. Is this just a “me too” offering?
Looks like a great tool for Facebook advertisers to assist in monitoring and tweaking of campaigns. Cant wait for the roll out
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I love Beta programs.
How are other agencies dealing with the issue that a click from 1 client’s campaign could convert in another client’s campaign? Do you have 1 account for each client? We’re in the beta too, but have been hesitant to use after raising this concern with our Facebook Agency rep.
Does anyone know how to request beta access from facebook for the conversion tracking?