When Facebook announced that they were releasing a conversion tracking pixel earlier this year, I thought “Finally! We’ll be able to see conversion data all in one place.”
No such luck.
It wasn’t until this week that we spotted a new dashboard that includes magical, ne’er-before-seen-in-Facebook figures such as ‘Conversions’, ‘Conversion Value’ & ‘Cost Per Conversion’. Imagine that.
Here’s a peek at the new dashboard in a small campaign with two variations:
For years now, if you wanted real data on conversion rates for Facebook Advertising, you’ve had to dig deep to match the actual amount of money you spent with conversion rates. Most folks were using external tools, building their own reporting systems, or spending lots of time caring for their cumbersome spreadsheets.
With the amount of effort it took, I honestly have to think Facebook didn’t actually *want* us to put the cost together with the conversion rate.
I don’t blame them. (With average click-through rates starting with “0.0”, I wouldn’t be in a big hurry to make that information available either.)
Facebook is slowly rolling this dashboard out to all users.