Even as Facebook looks to seriously pare down the number of ad products it offers, advertisers now have "more than double" the numbers to reference when analyzing the effectiveness of their dollars spent on the 1-billion-users-strong social platform, per David Baser, product manager for the Menlo Park, Calif.-based digital giant.
"We have a vastly larger number of metrics because of the break-downs," he said. "The key thing is we are introducing four new levels of data—demographic, geographic, placement and ad account data."
Following up on his firm's expansion of its Page Insights product last week, Facebook's Ads Manager has been ramped up to include stats such as age sets, gender and country versus country. So theoretically, brands will be able to distinguish if ads create better results among young Canadian women or their American counterparts, as just one example. The measurement system shows if Facebook buys are doing better in terms of particular ad placements, e.g., News Feed ads, promoted posts, display, etc.
More granularly, Facebook advertisers can assess their reach and frequency according to these stats:
- unique clicks
- unique click-through rates
- cost per unique click figures
- cost per 1,000 viewers reached
- people taking action due to an ad, including page likes, website conversions (for e-commerce marketers who track Facebook traffic with pixels)
- mobile and Web app installs
In addition, marketers who use the Ads Manager can customize, save and schedule their analytics reports in ways that weren't available before. For instance, they can choose what metrics they want to include in their break-downs, and they can drag and drop summaries within the Facebook interface and schedule delivery of the reports. And while the reports used to be only available as weekly or daily break-downs, advertisers can now automate reports for three-day stints or other period lengths.
Baser said the above figures will represent real-time analysis that will help marketers better target their spend.
"Up until now, some of our data has been available on a few minutes delay and some of it's been available on a few days delay," he explained. "Now all the data is available on no more than a few minutes delay."
Priceline.com and nine other undisclosed brands have beta tested the latest Ad Managers iteration. Kristen Jones, Priceline's social media lead, praised the way the new version presents all of the numbers.
"The updated campaign comparison function has decreased the number of reports we need to pull by 50 percent," Jones said in a statement. "And the campaign summaries have minimized the time spent on sorting through spreadsheets."