Social Media Marketing News: Facebook Adds Conversion Tracker
How is this related to Facebook advertising?
When someone clicks on your ad on Facebook and you have installed the new tracking code on your website, you will now get the results of how many people took a particular action.
That action could be purchasing products, signing up to a newsletter or anyo ther measurable action on your website.
Your return on investment
Just like in the real world, you need to track your ROI on your marketing dollars. Advertising on Facebook should be no different.
That is why I believe advertisers will take Facebook marketing more seriously and increase their ad spend with Facebook.
Many businesses advertise in a number of places on the Internet. Results need to be measured.
My issues with the tracking code
One issue is that it can only track one action. If you installed the tracking code on your newsletter thank you page, each person that signs up would be counted as a conversion.
If you also installed it on your shopping cart thank you page, this would also be counted as a conversion.
You can obviously see that these two types of conversions have very different values and provide a different return on investment for your marketing dollars.
Google Analytics is a little bit smarter where you can provide a dollar value for each action performed. It can read the amount that your customer purchased and add that to your conversion value.
This is big news for social media marketing and more companies are going to spend more money with Facebook because they can now measure their return on investment.