Facebook’s New Attribution Dashboard: Is it Worth the Hype?
Facebook Attribution is a statistical model developed by Facebook which “assigns fractional credit for a conversion to Facebook touchpoints based on their estimated incremental impact.”
Ummm, so what exactly does that mean? This new dashboard gives us a holistic view of the customer journey, both on and off Facebook by combining all of the data from FB insights, FB pixel, app events and offline conversions for up to the past 90 days. It tracks advertisements from Facebook, Instagram, Audience Network and Messenger, and can take anywhere from 15 minutes to an hour to receive the data.
With our business managers, T3 will have access to see all of the data from advertising campaigns and offline campaigns for all paid and organic content.
Businesses like airBaltic have already seen success with this tool. By utilizing Facebook Attribution, they increased their understanding of their customers’ actions and increased bookings by 5.4X. This Latvian airline learned that 75 percent of bookings came from a user journey that encompassed desktop and mobile prior to the actual purchase. Equipped with these insights, airBaltic chose Facebook’s flight ad unit to allow them to further tailor the dates and places in the messaging to make it more relevant to consumers.