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.