New Facebook ROI measurement capabilities

Posted on March 2, 2010 by Product Marketing Team

Today, we announced ROI measurement capabilities for Facebook. We’re very excited about how Seton Hall University and other Coremetrics clients deploy Coremetrics Impression Attribution on their Facebook fan pages, ads and applications. The solution helps clients attribute credit to the role Facebook plays in influencing subsequent website visits, behaviors and conversions.

This attribution happens whether visitors directly click from Facebook to the website (click-through traffic) or indirectly via a different channel (view-through traffic), such as paid or natural search.

Coremetrics Impression Attribution attributes credit to Facebook for both generating clicks and for increasing brand awareness and customer loyalty. And clients can apply this attribution to business-impacting metrics, such as sales, orders, conversion events, page views, and so on – not only to impressions and clicks.

I hope you’d agree that this is pretty awesome!

The ease at which clients can leverage Impression Attribution is amazing too. Simply add the Facebook Static FBML application to your fan page, add in the Coremetrics impression tag with the information you wish to report on, and voila! Let the Facebook attribution begin.

Advertisers with several Facebook assets can deploy several impression tags and get granular data about how each asset influences subsequent website behaviors and conversions.

More informing data can be captured and reported on by dynamically constructing the impression tag on custom Facebook tabs and applications. Advertisers can pull Facebook profile and activity data using the Facebook API and pass that data as tag attributes. Marketers can then group, filter, segment and report on these data attributes to understand what roles content preferences and user demographics play in influencing website conversions.

I hope to share more of how our clients leverage Facebook ROI reporting in future blog posts. In the meantime, please share your thoughts about these capabilities in the comments section.

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  • http://www.shu.edu Rob Brosnan

    Boaz, never in my professional experience have I seen the consumer and institutional response that I have to the insight that Coremetrics and Impression Attribution have brought to us in the last few weeks. Speed, speed, speed is the mantra. Insights, strategic course corrections and consumer responsiveness to the changes are all happening at the speed of the real-time web.

    Higher education isn’t typically a sector you would characterize as nimble or reactive. Seton Hall is no exception…until now.

    Little more than four weeks ago did we start to pay serious attention to click-through traffic from Facebook after we reanalyzed tit on a first-click attribution basis. We had previously payed only lip service to Facebook because the same session traffic was so minimal. But after the analysis, we knew we had to act fast to leverage the amazing characteristics of social sites that were revealed by the longer attribution window.

    Then we deployed impression attribution through a static FBML call. Talk about speed: we were collecting data in less than 15 minutes. A few days later the first attribution reports rolled out from Explore. Another week of testing and reporting and suddenly we were calling into question our strategy for display ads and lead generation.

    We realized exactly how much we were missing. Most of the Facebook consumer behavior operates on a Las Vegas model: it stays in Facebook. Except that it leaks out on view-through in another channel. First click and impression attribution exploded our cultivation model in two weeks time.

    Just today — 28 days since the first click analysis — I reported to senior administration on the click-through and view-through analysis. As a result, six days from now we will convene to reorganize our yield efforts for the Fall 2010 class. There is a palpable sense that the attribution data can make the difference right now.

    We have a sense of urgency that is truly delightful. Yes, I’d say that’s pretty awesome.

  • Boaz Ronkin

    Rob, it’s great to see such rapid and successful adoption of these new capabilities. You’ve hit it right on the head: attribution data that can make a difference. This is exactly the way that marketers and advertisers should approach their campaign investments. Well done!