Facebook has recently introduced Facebook Attribution, a power tool for ads measurement, and marketers couldn’t be happier. Facebook Attribution is a tool that gives very powerful insights about ads performance in a way that it covers each of the digital touchpoints that the traditional marketing attribution tools failed to hit.
Facebook attribution completes the task in a way that it makes a record of clicks, views, and conversions so that you can make better decision to improve your business by implementing the strategies that are more in use and more in demand.
We can explain facebook attribution in the following way so that it will be easier to understand.
Identifies the Hyper-Efficient Ads
We can check the ad performance through conversion. Tracking through conversion is a feature that tells you what happens when a person interacts with your ad. Whether the person buys that specific product or not. We can learn if “conversion” happened when a visitor purchased something while browsing our website. So, when we assign credit, it means we are making a check for each conversion. High conversion rates mean more sales or at least more desired actions that contribute towards the business goals. So, in this way we get to know which ad is really driving our business outcomes.
Uses Facebook Pixel, Online and Offline Conversion for Tracking The Customer Journey
We have talked a bit about the conversion above. In addition to this, facebook pixels help track the journey of customers that helps to understand the performance of ads and their impact. Because a customer’s journey can be more complicated than we think. Usually, a website visitor comes to that website several times and through different sources before making any profitable action.
Facebook attribution uses facebook pixels. Facebook pixel is a tracking code that reports all the user interactions on the website to the Facebook analytics tool. This code is put on the website to track the customer journey. It gives marketers more insight about their audience so that they can advertise to them with the ads of their interest. This is what we term as targeted advertising.
Assigns Credits Through Data-Driven Attribution Model
All the hard work you put into marketing a business is ultimately to improve the conversion rate or make more profits. You might be wondering what is the conversion rate? Well, the conversion rate is a percentage that measures how many visitors complete the desired action on your website, an e-commerce store, a Facebook page or any online property belonging to your business. This simply helps in quantifying the results.
Through the analysis of attributions, we can recognize which ad has the greatest impact on driving business outcomes. It works in two steps: (i) understanding which ad is more beneficial for the business and then (ii) according to this understanding you make a decision about which advertising strategy is productive so that you can scale that up in future. This is a statistical check and balance.
Checks Performance Through Devices Publishers And Channels
Cross-device attribution helps better understand the ad performance. This feature helps to understand the journey of a customer who interacts with an ad on one device and makes the conversion on another device. It gives detailed information on how to adjust your campaigns and optimize them for better results.
For example, if you learn that a campaign receives more mobile clicks, you may want to increase your mobile bid adjustment for that campaign to potentially get more clicks that assist conversions.
‘Custom channel’ is another feature offered by Facebook attribution for tracking the performance of your ad. You can design at least 500 custom channel for your product by using different characters like size, color or location on a page.
Before publishing your ad, you look for a publisher that has a good reputation and more number of viewers. So, when you have published an ad, Facebook attribution uses information regarding your publisher to track the performance and to ultimately see what is driving the business outcome.
Now that you know the power of using Facebook Attribution for measuring your ads and other marketing efforts. Go ahead and try it for yourself.