The past few months have been filled with all kinds of new measurement tools for marketers. Guess what? Facebook has another shiny, new surprise for us.
It is called Lift API. It lets more marketers, Facebook’s partners and other third-party measurement partners create their own life studies for conversion rates, sales and mobile app installs.
This is built on the Lift measurement tool that Facebook announced back in early 2015. Since then, it has been used by over 1,000 businesses across various industries to try to gauge Facebook ads’ effectiveness based on their objectives.
Facebook is also testing new fields/categories in its ad reporting, which “will help advertisers understand which ads people saw or clicked on before a bottom-funnel conversion, such as making a purchase or becoming a qualified lead,” a company rep told Adweek.
If you’re not familiar with conversion Lift measurements yet, you will be soon. It opens marketer’s eyes to exactly how Facebook ads drive their business. Here’s a rundown of how it works.
- When creating a Facebook campaign, a randomized test group (people that see ads) and control group (people that don’t) are established.
- The advertiser securely shares conversion data from the campaign with Facebook. Typically, this data comes from sources like the Facebook custom audiences pixel, conversion pixel or secure point-of-sale data.
- Facebook determines additional lift generated from the campaign by comparing conversions in the test and control groups, and the results of the study are made available in Ads Manager.
So now marketers have access to the data that lets them see where they see the ad to where they purchase it and much more.
Facebook’s expansion of tools for marketing has been awesome and we are super impressed with the capabilities. We are stoked to see what features that they bring to us in the future!
