Measure your Impact on Marketing with Facebook Attribution

facebook attribution - www.ruleranalytics.com

Facebook Attribution allows marketers to see which of their ads are driving conversions and contributing to sales. In this article, we discuss the benefits and challenges to Facebook attribution and show you an alternative method to help connect online and offline sales revenue directly to your Facebook campaigns.

93% of marketers admit to using Facebook advertising regularly, which doesn’t come as a surprise.

Facebook is the most popular social media site in the world right now, with over 2.6 billion monthly active users as of the first quarter of 2020.

With that said, marketers are leveraging Facebook advertising to increase exposure and traffic, generate high-quality leads and create a scalable, repeatable revenue machine.

Understanding how users move across channels throughout the customer journey is essential when determining which ads are driving the most conversions and sales.

With Facebook attribution, you can gain a holistic view of your campaign performance to help make informed decisions to improve lead quality, and more importantly, increase revenue.

In this article, I’ll show you:

  • How Facebook attribution works
  • How to step up Facebook attribution
  • The challenges to Facebook attribution
  • An alternative method to connect sales revenue with Facebook leads.

Without further ado, let’s get started!

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What is Facebook Attribution?

In November 2019, Facebook moved its attribution tool out of beta, making it easy for marketers to spot actionable data points for optimisation and measure ad performance across, accounts, campaigns and channels.

Facebook attribution is a valuable piece of kit as it gives advertisers access to reports that include cross-device conversion data and purchases resulting from paid, organic and direct sources.

 

How to setup Facebook Attribution

Before you can use Facebook’s Attribution solution, you need to make sure that you have the following points set up in advance:

  • You must have an active business manager account on Facebook.
  • The Facebook ad manager account you would like to analyse needs to be connected with your FB business manager account.
  • The Facebook pixel, event and conversion tracking must be implemented your website.
  • If most of your conversions happen offline, then offline conversions need to be uploaded into your Facebook manager account. Here’s how to upload offline conversion events. You can also upload the data using the offline conversions API or partner integration.

Once the steps above are in place, you can go ahead and set up the Facebook Attribution tool:

Step #1: Go into your Facebook ad manager account, click on “Business Tools” and select “Attribution” from the drop-down menu.

Facebook Attribution - step 1 - www.ruleranalytics

 

Step 2: Click on the “Get Started” button.

Step 3: Now it’s time to create your line of business. For the sake of clarity, a line of business groups assets together to ensure that your reporting contains all of the relevant data to measure the performance of your marketing. Assets include:

  • Ad accounts
  • Data sources
  • People

Now, you need to select the option that best matches your business setup.

Facebook Attribution - step 3 - www.ruleranalytics

You have three options to choose from:

  • Single business: If you have one business that all of your ad accounts, pixels and other data sources are associated with.
  • Business conglomerate: Your business is separated by brand, vertical or region, or you have multiple businesses. You have multiple pixels and other data sources for each.
  • Agency: If you manage reporting on behalf of other businesses or clients. You have multiple pixels and other data sources for each client.

Facebook Attribution - step 4 - www.ruleranalytics

Note: For the remainder of this step-by-step, I’m going to set up the Facebook attribution using the “single business” option.

Step 5: Once you have chosen the option that best matches your business, you will then need to select which ad account you want to use. Ad accounts can only be assigned to one line of business at a time. If you change your mind, you can assign your ad account to a different line of business. Once you have selected your ad account click on “Next”.

Facebook Attribution - step 5 - www.ruleranalytics.com

 

Step 6: Choose the Facebook pixel, apps and offline events you want to include in your line of business. You can go back and add or remove data sources from this line of business at any time.

Facebook Attribution - step 6 - www.ruleranalytics.com

 

Step 7: You can select people to view your reporting in attribution and can add or remove accounts from your line of business at any time. You can also add partners or people from outside your network.

Facebook Attribution - step 7 - www.ruleranalytics.com

 

Step 8: Now it’s time to verify your time zone and currency. Based on your details, Facebook will recommend the appropriate time and currency values automatically. Keep in mind that you can’t change these options once you’ve created your line of business.

Facebook Attribution - step 8 - www.ruleranalytics.com

 

Step 9: Choose a name for your line of business and then click “Confirm”.

Facebook Attribution - step 9 - www.ruleranalytics.com

 

Step 10: Once you’ve confirmed your details, it’ll take a few hours for Facebook to receive data from your ad campaigns and conversion event.

 

Choosing Your Facebook Attribution Model

Setting up your line business is just the first step. You will now need to choose your attribution models and windows.

Editors Note: If you’re not clued up on attribution modelling, then I suggest that you check my following articles on attribution:

Setting up your line business is just the first step. You will now need to choose your attribution models and windows. Before we jump into the list of the Facebook attribution models, I’ll to briefly explain how attribution modelling works.

Attribution modelling is the process of tracking the touchpoints that lead to a conversion or sale. It is a set of rules that allow marketers to allocate appropriate values to each marketing touchpoint based on its contribution to the sales cycle.

Facebook allows you to choose the following attribution models:

Facebook Attribution - Attribution Models - www.ruleranalytics.com

  • Last-Click Attribution: 100% of the credit for a conversion is attributed to the very last click or visit the user made in the customer journey.
  • Last-Touch Attribution: 100% of the credit is attributed to the first click or visit the user made in the customer journey. If there was no click or visit, then the credit will get attributed to the impression.
  • Equal Credit: credit for a conversion is distributed evenly across each touchpoint the user interacted with.
  • Positional 30%: The first and last touchpoints both receive 30% of the credit. The remaining credit is spread evenly across any touchpoints in the middle of the journey.
  • Positional 40%: The first and last touchpoints both receive 40% of the credit for a conversion. The remaining credit is spread evenly across any touchpoints in the middle of the journey.
  • Time-Decay Attribution: The time decay attribution model gives an increasing percentage of the credit for a conversion to touchpoints as they get closer in time to the conversion.

There’s no such thing as the “perfect attribution” model.

Each attribution model comes with its own advantages and disadvantages.

You can ask yourself the following questions to understand which attribution model best compliments your business:

1. What is the exact end goal of my marketing activity?

2. What am I trying to achieve with my Facebook ad campaigns

3. Which attribution model will help me measure these objectives best?

 

Selecting your Facebook Attribution Window

Now that you have chosen your attribution model, it is time to select your attribution window.

An attribution window is the number of days between when a person viewed or clicked your ad and completes a conversion.

There are 17 options to choose from:

Facebook Attribution - Attribution Window - www.ruleranalytics.com

So, what is the best attribution window?

Again, there is not a one-size-fits-all solution.

If your business sells low ticket prices or drives short sales cycles, then I would suggest that you stick with the default option: 28-day click and visit, and 1-day impression.

Although, if you operate in the service industry, or sell high ticket items such as cars, jewellery or retail, then a 90-day attribution model might work out better, as it is the longest window available on Facebook.

 

The Challenges to Facebook Attribution

Despite being packed full of features that allow you to assign credit to the campaigns that drive conversions and traffic, Facebook does come with its limitations get’s between systematic sales and marketing alignment.

Let’s take a look at some of the barriers.

Limited Channels Available

As it stands, the data is limited to Facebook, Messenger and Instagram, which is troublesome for marketers that use other platforms, such as Twitter and LinkedIn to drive conversions.

Attribution Window Limited to 90-days

As we’ve just discussed, the longest attribution window Facebook offers is 90-days. The sales landscape looks vastly different from that of just a few years ago. The path to conversion is not as simple as it once was. If your customers advance through a complex sales journey, then a 90-day window isn’t going to cut it.

 

Connect Facebook Leads With Multi-Touch Attribution Software

Ruler Analytics provides marketers with the tools they need to track offline conversions generated by Facebook ads – as well as every other online and offline campaign you have.

Here’s how it works:

Facebook Attribution - buying cycle - www.ruleranalytics.com

Ruler creates a user for each person that visits your website, capturing the referral source (Facebook ad, Google search, social media post, etc.) alongside any details you know about the visitor.

If, or when, an anonymous visitor requests a demo, schedules a sales call or fills out a form, Ruler will capture that data and passes it along to your CRM.

When a lead is closed into revenue in your CRM, that data is passed back to Ruler—including the amount of revenue generated from the sale.

With Ruler Analytics closed-loop solution, advertisers can create detailed reports showing exactly what Facebook campaigns prospects interacted with prior to the conversion and show how much revenue each individual campaign, adset or ad generated for the business.

In addition to this, Ruler Analytics can provide you with unique phone numbers for call-only ads or offline marketing campaigns, allowing you to track which Facebook campaigns produced the most valuable phone calls.

You can learn more about that here.

Offline Tracking - Banner - www.ruleranalytics.com

 

Final Thoughts

Marketers who are responsible for spending money on Facebook to generate revenue should have a solution in place to see if their ads are driving real value.

Effective Facebook attribution allows you to filter your performance data, improve your campaigns, reduce waste, and more importantly, demonstrate how your efforts are driving revenue for your businesses.

Ready to learn more about marketing attribution? Book a call with one of our sales representatives and start focusing on the revenue impact of your marketing initiatives today.

Written by

Digital Marketing Manager at Ruler Analytics with a background in SEO, analytics, content marketing and paid social. I help people (like me) close the loop between marketing-generated leads and revenue.