This new free Facebook attribution tool, powered by Facebook Pixel, is designed to give marketers a more holistic view of the customer journey, both on and off Facebook. It will allow marketers to report on campaigns across Facebook, Instagram, Audience Network and Messenger and use machine learning to account for incremental conversions driven by ads across its platforms.
According to the latest CMO survey, marketers are expected to expand social media spend by 66% in the next 5 years, even though social media is perceived to make modest contributions to overall company performance. According to the report, 39.3% of business owners are still unable to show the impact social media has on business results.
Will this new tool help to close the loop between social media spend and its impact on business results? It’s definitely a good start! “Using the new data-driven attribution model, you can see how your ads on Facebook, Instagram, Audience Network and Messenger are contributing to incremental business results compared to if you were not running ads,” writes Facebook on its business blog.
This new tool will arm marketers with a better understanding of user interactions across touchpoints, fuel the data vault, and help agencies make more data driven recommendations in the social space.
Read more about Facebook Attribution on Facebook Business.