Advertising smart is what Facebook is encouraging marketers to do. Measurement seems to be the biggest challenge for marketers who want to measure the impact of their ads on Facebook to understand which ads are meeting their objective the most. By adding new capabilities to its ‘Conversion Lift’ measurement tool, it aims to help advertisers make informed marketing choices. The tool was first introduced in January this year.
Up until now conversion lift studies have measured the effectiveness of Facebook advertising by separating an advertiser’s audience into two groups: a randomized test group that sees ads and a control group that doesn’t. This kind of study shows advertisers how effective their Facebook ads are at driving their intended goal. But now advertisers can compare multiple ads with the same objective against each other, so they can not only see if Facebook advertising is working but exactly which advertising approaches work the best for their goal.
Among other things, conversion lift studies with multiple test and control groups help advertisers determine:
• Which ad units perform best for their objective
• Whether brand and direct response ads work better to achieve the objective than brand ads or direct response ads on their own
• What value mobile ads are driving
• Whether lifestyle creative or product-focused creative best accomplishes their goal
‘Facebook has given us the tools to test the effectiveness of multiple ad types against multiple objectives in a scientifically valid way, allowing us to quickly act to maximize the efficiency of our campaigns,’ said Dr. Valentin Schellhaas, the Chief Marketing Officer at Westwing, a German shopping Club, which ran a conversion lift study to determine which kind of ads were more effective.
Additionally, conversion lift studies can now be set up to measure lift across purchase channels, like stores, websites and apps, so advertisers can get a holistic view of their ad performance. Multi-channel measurement shows the advertiser the overall effect their ads contributed and can also be viewed by channel to see how the ads drove sales in store, online or in app.
So when you need to understand which marketing approaches work best, you can optimize campaigns and better understand your return on ad spend.