Facebook, the global leading social network has rolled a new advertising feature which allows online sellers to track purchases by Facebook users who have viewed their ads, Reuters reported last Friday.
According to David Baser, a product manager for Facebook’s ads business said the new sales conversion tool is designed specifically for online sellers and travel websites who need immediate sales rather than for long-term brand-building. Measuring ad effectiveness and outcomes are crucial for all types of businesses and this new tool able to deliver information about customer sales conversion which can convince the marketers in advertisement spending with Facebook, he added. Facebook defines a conversion as anything from a completed sale, to a consumer taking another desired action on a website, such as registering for a newsletter.
Facebook said online retailer Fab.com has tested the new tool and it helped them to reduce its cost per new customer acquisition by 39 per cent when it served ads to consumers deemed most likely to convert.
by Terry Brown