Originally slated for a 2012 release, Facebook has just announced the global launch of its conversion tracking tool.
Conversion measurement allows you to measure the ROI of your Facebook Ads by counting relevant user actions — such as registrations and shopping cart checkouts — driven by people seeing ads on the social network.
This is done by copying and pasting a snippet of code to the page you’d like to track — a key ability for e-commerce and other direct response advertisers who use Facebook Ads to drive traffic to third-party websites.
Incorporated into the self-serve ad tool sometime over the weekend, advertisers will now see an option called “Conversion Tracking” in the “Campaign, Pricing and Schedule” section of the ad tool. Click “Create Tracking Pixels” to create a conversion pixel, name it, and designate which action you’re tracking.
For example, you can track checkouts, registrations, leads, key page views, adds to cart, and so on. Facebook will then generate a piece of code for you to put on the page of your site you want to track. Later, these actions will be reported in the ads manager.
We should note that Facebook doesn’t offer conversion tracking for Sponsored Stories or other ads that link to Pages or Apps on the social network. You can learn more about the conversion tool in Facebook’s Help Center.