Back in November, Marketers rejoiced as Facebook announced conversion tracking for advertisers. Yesterday Facebook officially announced that conversion tracking will be rolling out to all advertisers.
This is a huge boon for those spending money on Facebook as actions taken off of Facebook can be tracked back to the specific Facebook ad within Facebook’s advertising system. Advertisers can implement the new optimized CPM (OCPM) format to deliver ads to those that will most likely convert. In the select release, Facebook found that on average conversion measurement helped lower the cost of conversions by 40% than traditional CPC. Facebook also shared the following success metrics from some advertisers in the beta release:
- Fab.com was able to reduce their cost per customer by 39 percent using conversion measurement.
- The Democratic Governers Associated were able to decrease their cost per mailing list sign-up by 85%.
Conversion data can be found in Facebook’s Ads Manager, Power Editor, or API. To get started head to any of the above locations and make sure that “Track conversions on my website for this ad” is checked and the conversion pixel is installed on the proper page.