Here’s What Marketers Need to Know About Facebook’s New Ad Metrics
Fresh off of hitting the 2 billion user milestone, Facebook is rolling out a series of new metrics for advertisers.
In an effort to give advertisers and business owners deeper analytics when it comes to how people are engaging with their brands on Facebook, the platform has released a new series of reporting metrics slated to roll out in the coming weeks.
The announcement follows an expressed commitment from Facebook to improve its measurement standards through a partnership with comScore and the shuttering of thousands of fake accounts that were leading to inflated impressions and engagement figures being reported to advertisers. Facebook dominates the online display landscape, and it’s estimated that the network—which just reached the 2 billion user milestone—will capture 40 percent of the U.S. display market by 2018.
In a blog post, Facebook said the release of new metrics comes as a response to feedback from advertisers and business owners that they are seeking greater transparency and understanding into the performance of their investment on the platform. Per the announcement, Facebook will be releasing new metrics “about every month” so that businesses can continue to improve their understanding of the data they are collecting via paid ads and Page activity.
Here’s a quick rundown of the first round of newly announced metrics:
- Landing page views: This metric will allow marketers to better understand how people are converting once they click through an ad to a new page. Pages that are not optimized for mobile and/or have slow load times can result in higher bounce rates. This metric will allow marketers to understand how much traffic they’re missing out on due to poor mobile web experiences.
- Pre-impression activity breakdown: Designed to help marketers gain deeper insight into their audiences, this metric shows which engagements or clicks are coming from people who are new to their website or app, vs. those who have had prior exposures. This metric is particularly of interest to businesses running ads against wider audience cohorts (i.e. the messaging is reaching people beyond their own customers) and to advertisers running creative based on associated product recommendations.
- Enhanced insights for Page owners: In addition to the new advertising metrics, Facebook will release three new metrics for Page owners. The first provides a more in-depth look at Page followers and includes additional details around growth and decline of followers over time, follower demographics, and the breakdown between organic and paid followers. The second metric gives Page owners insight into preview impressions—that is, how many people saw a Page description in a hover state without clicking through. Third, Page owners will soon be able to see how many times their page has been referenced in a recommendation.
Facebook hopes these efforts will create a win-win-win situation for its own platform, its growing roster of advertisers, and its community. Earlier this month, Mark Zuckerberg released an updated mission statement that touts the importance of community moving forward, with an added focus on Groups. While marketers are already working on what their strategy for Groups will be moving forward, Facebook’s core product for brands will continue to be its ads, which offer sophisticated targeting at enormous scale.
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