Facebook revealed several analytics-related updates at its F8 annual developer conference in San Jose, Calif., this week.
The social network introduced Journeys from Facebook Analytics, saying in a blog post that it enables users to “see omnichannel data and reporting, giving you a holistic view of the different interactions people have with your business before converting, making a purchase or subscribing.”
Facebook said all information is aggregated anonymously with the goal of helping users understand the impact of different channels and identify behavior patterns that lead to conversions, adding, “For example, you may find that the people most likely to convert first browse your website on mobile before ultimately making a purchase on desktop. Or maybe, the people who interact with your business on Messenger ultimately spend more in your mobile application. You can then use these insights to optimize your marketing strategy and grow your business.”
A new Facebook Analytics mobile app was released for iOS and Android, enabling users to keep tabs on key metrics in its overview tab, create dashboards with reports saved via desktop, browse automated insights about their businesses’ pages and receive notifications about significant changes.
Finally, the social network added the following features to Facebook Analytics:
- Auto-detected funnels: Advertisers can leverage machine-learning algorithms to identify the most frequent paths users take through their apps and websites and across multiple channels. Facebook said, “This enables you to identify friction in your marketing and product experience and uncover opportunities to optimize for conversions faster.”
- Insights based on custom parameters: Brands can add custom parameters to their events and receive insights tailored to specific questions such as: Which product or item categories are correlated with higher retention or usage frequency? Which products are your best sellers overall or with a specific audience? Which sections of your app or website are correlated with higher purchases for a user segment? Which promotional codes or payment methods are correlated with higher average transaction sizes?
- Funnel conversion insights: Advertisers can create funnels tailored to their businesses, and the social network will surface related insights on which segments are more likely or less likely to result in conversions. Facebook wrote, “With funnel conversion insights, Facebook Analytics does the work of analyzing people’s progress and finding relevant optimization opportunities in your funnels for you.”