New Facebook retailer measurement tools and ad options are available, starting today; making it easier to collect historical data from different channels…
Facebook experienced a 63 percent advertising growth in the second quarter and now, it’s seeking to bolster future revenues. On Tuesday and Wednesday, the social giant announced it’s expanding its return on investment by offering new retailer measurement tools and ad options. To this end, the network will partner with other companies to deliver more data to businesses promoting on the platform.
Five New Facebook Retailer Measurement Tools and Ad Options Now Available
Five new Facebook retailer measurement tools and ad options are now live, with as many strategic corporate partnerships. One is Nielsen Catalina Solutions, who will provide consumer package goods companies with data on Facebook and Instagram in-store purchases. Lift API, by Oracle, will offer information regarding about how likely consumers are to buy a product with or without seeing an ad. Additionally, Visual IQ and Neustar will provide insight as to which ads deserve credit for purchases.
Facebook explains the goal is to assist with the 49 percent of in-store purchases influenced by consumer digital interactions. (More than half of these in-store transactions occur via mobile devices.) The social network states the new formats will allow brands to customize ads, not only based on consumer shopping behavior, but also, targeted for specific locations.
Major companies testing these tools are Macy’s, Abercrombie & Fitch, Pottery Barn and Target. Recently, a survey conducted by Gordon Borrell found Facebook local advertisers are increasing while legacy media buys are shrinking. The social media giant also just expanded its Audience Lookalike tools to allow businesses to market to international consumers. Facebook is the largest social network with 1.7 billion active users worldwide.
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