Facebook has released an ad conversion tracking tool to a limited set of advertisers. As Facebook describes the service, “Conversion tracking allows you to track activity that happens on your website as a result of someone on Facebook seeing or clicking your Facebook Ad.”
The new service will allow Advertisers the ability to assign a specific value to an action on their own websites and effectively determine the ROI of their Facebook advertising campaigns. This also promises to save a lot of time for advertisers who currently need to dump their data into spreadsheets and cross-reference that data when tracking ad spend ROI (return on investment). Once the ad conversion tracking tool is fully released to all, Advertisers will be able to track conversions, tag conversion values, and a SKU codes. Also, rather than providing the type of conversion funnel tracking provided through Google Analytics, Facebook is recommending that, “advertisers use a series of SKU codes for each page on your site”.
Facebook has realized that the more tools they can provide to advertisers, the more likely advertisers will be to spend money on the platform in the future. And then there was light. ;)
View Conversion Tracking Tutorial (Slideshare)