Measurement is one of the biggest hurdles for advertisers. Knowing how and when to invest in advertising is hard and current solutions don’t give you the complete picture. Do you really know which devices, platforms and channels are actually driving your business?
So, of course Facebook stepped in. They are expanding their Conversion Lift measurement capabilities by building on their existing Facebook measurement offerings.
How It Works:
When you run your Facebook campaign, Conversion Lift will randomize and split your ad audience into two groups – one that sees your Facebook ads and another that doesn’t. As your campaign progresses, you can share your conversion data with Facebook – whether is happens online, offline or even in your mobile app. They calculate the additional business that you captured by comparing conversations in the group that saw your ads and the one that didn’t. You can find the results in your Ads Manager.
Take Action!
This allows you to try different marketing tactics. Not only can you see a lift when people view Facebook Ads, but you can also use Conversion Lift to see what resonates with your audience. For example, you can see if video ads work better than link ads. This will help you make more informed budgeting decisions and optimize your Facebook campaigns to be even more effective!
Who Has Dibs?
Advertisers that work directly with Facebook teams can set up conversion lift studies with their account representative and see results in real time. However, over time Facebook will expand the conversion lift offerings to cover more use-cases and more complex studies.
Understand that Facebook does already offer lift measurement solutions through their own tools and third-party partnerships.
Impact
Australia’s leading online learning provider, Open Colleges, used a conversion lift study to measure the full impact of its Facebook campaigns. Results from the study showed a 95% lift in conversion rate for website inquiries and a 12% lift in offline enrollments. The study also revealed that the cost per acquisition was 23% lower than what Open Colleges’ last click model had indicated.
Overall, Conversion Lift sounds like a pretty clutch tool to figure out exactly how customers are getting to your business – try it now.
