Facebook Thursday will announce a feature for advertisers called action tracking, which will enable them to move beyond likes and track conversions and downstream activity, according to social ad-management software provider Buddy Media, which offered details on the new capabilities in a post on its blog.
Buddy Media described the new feature as allowing advertisers to focus on cost per engaged fan, rather than simply cost per fan, and it said advertisers will now have access to robust data and be able to optimize their campaigns for:
- People talking about this
- Page likes
- Page post likes
- Page post comments
- Page post shares
- @ mentions
- Photo tags
- Offers shared
- Offers claimed
- Application installs
- App used
- Credit spend events (number of times someone uses credits in the app)
- Credit spend amount (value of credits that were spent in the app)
- Number of RSVPs
Buddy Media said in its blog post:
Until now, marketers could not track conversions or downstream activity via Facebook and its Preferred Marketing Developer partners like Buddy Media. This limitation made it hard to prove how paid activity drove specific actions, and to target people based on actions.
Now, with action tracking, Facebook is providing the missing piece to help prove that ad activity is driving truly engaged fans.
Marketers will have rich data showing both the post-impression and post-click activity driven from ads. This includes, but is not limited to, the number of likes, comments, video plays, link clicks, and many other possible actions that fans can take on the site.
Buddy Media said it has already incorporated action tracking into its BuyBuddy social ad management software.
Social advertising counterpart Compass Labs also announced that its Compass Labs IQ (CLIQ) social advertising platform has incorporated support for the new attribution measurement features, saying in its announcement:
Compass Labs has experienced significant conversion rates from precision-targeted Facebook ads, with as high as 90 percent of conversions coming from ad impressions versus clicks. For a client focused on customer acquisition, optimizing against clicks alone is not optimal for many types of products and services. Compass Labs’ results confirm the value of this new view tag feature for advertisers.
Advertisers using CLIQ can now accurately attribute conversions to ad impressions served and optimize against the best performing audience segments reached. For products and services where a customer needs to digest a lot of information before transacting, like a mortgage loan, brokerage and investment products, or various types of credit applications, this is a significant advancement.
Back to Buddy Media, the company announced that BuyBuddy also added support for the following recently introduced Facebook ad features:
- The ability to purchase premium ad units via Facebook’s ads application-programming interface, and to buy, manage, and test premium ads alongside marketplace ads.
- The ability to purchase sponsored stories in any combination of the traditional right-hand rail, the desktop news feed, or the mobile news feed.
- The ability to incorporate open graph actions, such as listened, read, and watched.
- Support for optimized CPM (cost per impression) bidding.