According to the social network, utilizing this feature is as simple as copying and pasting. Once you’ve added a snippet of code to any page on your website — such as a checkout or registration page — you can keep track of visitors who access it from a Facebook Ad.
The code snippet will then “ping” the social network, adding the conversion to a count in ad manager. Later, when you begin the ad-creation process, you can choose optimized CPM bidding — which was also updated to serve more relevant ads — and Facebook will automatically display ads to the members most likely to convert.
Facebook noted that design retailer Fab.com is one of the beta testers of the new self-serve feature, and has reported a 39 percent reduction in cost per acquisition by using optimized CPM bidding. Of course, other factors might have played into that, but the conversion-measurement feature is worth keeping an eye on if you’re a serious Facebook advertiser.
The company expects a public roll out of the self-service conversion-measurement feature at the end of November. We’ll keep you updated on any changes that might occur alongside its release.