Facebook has announced the official launch of its conversion tracking tool, an Ad Manager update which can count actions such as check outs and registrations generated by ads.
This allows advertisers to ascertain how many people clicked on or viewed their ad and also allows advertisers to utilise optimised CPM bidding in order to target ads at people most likely to convert on their businesses site.
In a statement Facebook said: “Today we are excited to announce the global launch of a new conversion measurement and optimization system for direct response marketers. Facebook conversion measurement allows advertisers to measure the ROI of their Facebook ads by counting relevant user actions, such as registrations and shopping cart checkouts, that are driven by people seeing an ads on Facebook.
“Marketers can now also use optimized CPM (OCPM) to deliver ads to people who are most likely to convert on their websites. Beta tests have shown that when conversion measurement is used with optimized CPM, ads reduced the cost per conversion by 40 percent when compared to CPC ads using the same budget.”