Discover Which Facebook Ads Are Driving Conversions
Facebook launched a measurement tool back in January called Conversion Lift in an effort to help marketers understand the value of Facebook Ads. Now, Facebook has announced that it is expanding the capabilities of this tool.
According to the social network, the new capabilities added to Conversion Lift help marketers understand which of their Facebook ads are best driving their ad objective. For instance, Facebook notes that previously conversion lift studies measured the effectiveness of Facebook advertising by separating an advertiser’s audience into two groups – a random test groups that saw ads and a control group that did not. This type of study shows how effective Facebook ads are at driving their intended goal. Now, however, advertisers can compare multiple ads with the same objective against each other. This enables advertisers to not only see if their advertising is working, but also which ad approach is driving the best results for their goal.
In addition to helping advertisers determine which ad units perform best for their specified objective, the updated Conversion Lift tool will help advertisers can compare the effectiveness of brand and direct response ads, identify the value mobile ads are driving and determine whether lifestyle creative or product-focused creative works best.
Facebook gives the example of Wix, which ran a conversion lift study with multiple test and control groups to determine whether direct response ads in combination with band awareness video ads would drive more premium subscriptions than just using direct response ads. The test revealed that while both campaigns grew subscriptions, the combination of direct response ads with video ads resulted in even more subscriptions.
It is important to note that conversion lift studies can be set up to measure lift across purchase channels including stores, websites and apps. This allows advertiser to get a complete view of their ad performance.
To run a conversion lift test, advertisers need a campaign that isn’t live yet and that will be able to power meaningful and accurate results, as well as accessible conversion data.