The digital landscape is one of constant change and innovation. Given that it’s so rich in ideas, merchants are naturally going to be looking for better ways of doing things, namely tracking advertising performance. After all, when it comes to keeping an eye on your overall marketing strategy, you’ll want to make sure you’re getting a full picture. Which is where Facebook Attribution comes in.
First Things First: What Is It?
Great question and thank you for asking. Many traditional marketing attribution tools rely solely on cookies and last-click attribution; this is fine up to a point, but it may not be clearly conveying which parts of your advertising are really driving business outcomes.
Facebook Attribution is different. Reporting on campaigns across Facebook, Instagram, Audience Network, and Messenger, it’s the perfect tool to help you make smarter business decisions. Using machine learning, the data-driven Facebook Attribution model accounts for incremental conversions driven by ads across its platforms, showing just how Facebook ad campaigns are impacting actions throughout the customer journey. Thanks to Facebook Attribution, you’ll be able to see exactly which channels are driving traffic, conversions, and purchases; by providing valuable insights to inform your marketing strategies, you’ll have the required data to improve efficiency as well as gain a better understanding of your audience’s digital experience.
A Breakdown of the Benefits
To put it simply, the core benefits of the Facebook Attribution tool are as follows:
- More data on the user journey. This is when users are on the Facebook platform and when they aren’t.
- Incrementality analysis. This is when the system uses data-driven attribution to estimate the incremental impact of running paid activity on Facebook, which helps businesses identify which areas are performing well and grow them; figure out which areas are not doing well and fix them.
- Cross-device tracking. This lets you see how people are engaging with your business and paid media across devices. The Facebook Attribution model also gives you insights into data from cross-channel and cross-publisher (referring domains) tracking, which are both crucial to growing your business’s social reach and customer engagement.
What to Expect: Performance and Reporting
With so much going on in Facebook’s attribution tool, it’s easy to miss the finer things hiding in plain sight. When it comes to performance and reporting, Facebook Attribution works (and helps!) in the following ways:
- Comparing the impact of your ads across paid, organic, and direct touchpoints, the level of performance is well presented and very informative, giving you all the information you need to come up with an intricate plan and where necessary make improvements. You’ll also receive a percentage of credit to each touchpoint based on the incremental impact they have on driving business goals.
- Creating custom reports using breakdowns based on your campaign names guarantees the greater efficiency of campaigns at all levels. You can even use templates, filters, and other advanced tools – you never know when a little extra customization might come in handy!
Only recently launched, Facebook Attribution is already being well received. Elina Prave (VP Marketing, airBaltic) has this to say about the system: ” Facebook Attribution allows us to see the full picture of cross-device measurement and make the right marketing decisions based on user behavior.” If that isn’t a positive endorsement, we don’t know what is!
More info can be found here.