Facebook
Inc(NASDAQ:FB) has started rolling out a feature that would let e-retailers to
monitor purchases made by Facebook users, who have viewed their adverts. The
venture comes at a time when the largest social network in the world keeps up
its efforts to explain its investors that it can monetize its billion-strong
base of users. For e-retailers, the new tool could aid in gauging the
effectiveness of online marketing initiatives on a specifically modular level.
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As
per Reuters, Facebook’s conversion tool is designed more for direct response
marketers and less for long-standing brand-building. It would let marketers to
assess the number of people that purchased a specific product after viewing an
advert, which seems to be an interesting feature for many online retailers.
However,
the feature would not let marketer to access information that could make out
Facebook users.
Ever
since Facebook started with its record-breaking initial public offering, shares
have shot down sharply. Many analysts ha ve predicted that the company may not
be able to make it as a truly profitable and evolving enterprise. To counter
the trend, Facebook has been rolling out a number of marketing initiatives and
e-commerce tools aiming at transforming its huge user base into dollar signs.
Presently,
the conversion calculation tool for marketers is still in its developmental and
experimentation phase. Facebook is expecting that the feature would be fully accessible
at the end of the month.
A
product manager for ads business of Facebook, David Baser has said that
calculating ad effectiveness and results is immensely crucial to all kinds of
business and marketers. He also feels that conversion measurement feature has
been a top customer demand since a long time.
Baser
has also said that the sales data that advertisers get is largely anonymous.
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