Facebook Inc (NASDAQ:FB) is bringing a new and an advanced tool that will enable online retailers and marketers to track online purchases of Facebook users who have viewed their ads, reports Reuters.
This development is reportedly going to help e-marketers to better understand and measure the ROI of ads running the social network.
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The basic and the foremost purpose of this new tool is to demonstrate that running ad – campaigns on the social networking site is an effective way of marketing a product. Facebook Inc (NASDAQ:FB) aims to display this tool as an effective and a profitable way of measuring a user behavior on their ads posted on the social network.
Being a part of Facebook’s Ads Manager platform, this tool will be able to use CPM (cost per mile) bidding to display relevant ads to users, the likelihood of whom conversion to business sites will comparatively be greater than other users.
The information thus collected from this tool will serve to give marketers an insight into the statistics of how many people clicked or viewed theirs ads, which as a result, will help e-retailers to take the desired action.
David Baser, a product manager for Facebook’s ads management says, “Measuring ad effectiveness and outcomes is absolutely crucial to all types of businesses and marketers,”. He adds, our ““conversion measurement” tool has been a top customer request for a long time,”.
Daid Baser used the example of an online show retailer to demonstrate the function and outcomes of this tool. David believes that marketers can see the number of people who bought shoes, but personal identification of purchasers will remain private.
According to some web analysts, Facebook Inc (NASDAQ:FB)’s new conversion measurement tool, if it succeeds to deliver the results it promises, will serve to make big progress in the world of online advertisement and may attract advertisers who have been using Google Inc (NASDAQ:GOOG)’s Web search engine to deliver ads to consumers.
It has been reported that Facebook Inc (NASDAQ:FB) has introduced this new marketing tool for local businesses, such as restaurants and coffee shops.
Please note that this tool is launching in testing mode and will be able for advertisers by the end of this month.