We all know there have been a significant number of changes to Facebook advertising over the last year. However, when I was looking for one place that fully outlines what all these changes are, I came up short. Let’s first review 2013 up to October 1st. Here’s a visual:
Of these changes since January, I think the most important ones are Custom Audiences, Lookalike Audiences, and conversion tracking. The ability to load your own email list into Facebook and subsequently ask the platform to find you people that look like your customers is absolutely the most powerful layering tool to date on Facebook. It allows complexity in campaigns and further refinement allowing an almost unmatched marketing tool.
Additionally, conversion tracking finally helps track how your campaigns are doing on Facebook. You get to see how much your conversions are, what your cost-per-X is, and thus spend money where you’re actually making money. This also proves that Facebook finally accepts and understands the fundamentals of how advertisers are using Facebook. Some of us use it to sell product, some use it to sell and scale audiences and grow communities – and the pixel proves they’ll let us prove our worth as Facebook marketers.