October 30, 2018
Two weeks ago, the Facebook attribution system was released after being in Beta for more than a year. The system allows marketeers to analyse and examine their campaigns across multiple devices and across the whole Facebook Family – including Instagram, Facebook, Messenger, and the Audience Network.
If you have already set up your Facebook Pixel or Facebook SDK for app events, and you’ve already been using UTM parameters with Facebook ads, then no additional setup is necessary. Facebook has the ability to support offline conversions which can be uploaded using the Facebook offline conversions API.
There’s 7 attribution models to choose from in the Facebook attribution system (as seen below) with attribution windows of up to 90 days. Data shows both paid and organic activity and it’s possible to add in impressions and clicks from other platforms also. It is possible to view each individual model to understand the various values assigned to your marketing efforts.
Whilst it’s free, the Attribution platform is reporting and doesn’t offer any intuitive ability to begin ingesting any other data sources, such as customers, products. Nor does the intel feed back into influencing bidding strategy. It’s widely believed that this mechanism is thought to entice advertisers back to Facebook advertising due to its discrepancies and lack of transparency with reporting, and the inability to match up with reporting systems such as Google Analytics. This has frustrated marketeers over the years as it has been difficult to understand the incremental value of campaigns.
According to Facebook, 45% of digital touchpoints are missed by the traditional last-click model (1). Using what Facebook call people-based measurement, as opposed to cookie-based measurement, mobile a higher amount of conversions compared to desktop. Moving to this form of measurement, the average return on advertising spent in mobile was as high as 1.9 times versus cookie-based.
Time will tell whether the platform has the ability to deliver more confidence to advertisers. As it’s purely functional for reporting only, insights are limited. Whether more data points to create actionable deliverables will be available in the future is yet to be seen. But rest assured, Facebook has a track-record of keeping up with what the market requires.
Watch this space…