Facebook is more than a social networking site; it’s a business with many complex features working together. Once a small website (for only Harvard University students), Facebook has long since shed its small-town ways for bigger, flashier effects in the horizon. Facebook now combines the best of social networking tools and online marketing tactics to create a single platform that is attractive to both users and businesses, and it is only getting started.
Facebook continues to roll out enhancements to its advertising options, particularly on the mobile side, announcing Monday that mobile applications can now be promoted via cost-per-action buying, and videos can now be included in creative for ads promoting mobile apps.
Facebook recently launched a new conversion metric, making it easier for businesses to tell if users made purchases based on advertisements on the social network. Social media expert Jon Loomer illustrated how businesses can use this new practice to create offsite pixels, which signal events that happened while users browsed websites.
In an effort to help marketers better track sales, Facebook launched a new conversion measurement Tuesday, allowing advertisers to measure the return on investment of their Facebook ads by tracking user actions such as registrations and shopping cart checkouts motivated by people seeing the ads. It allows marketers to track when someone sees an ad on one platform and switches to another to make the purchase.