Amongst all the allegations surrounding the provision of personal information to Cambridge Analytica which was later used to manipulate voters in the 2016 US Presidential Election, Facebook launched a new analytics tool at its developer conference, F8 on 1st May 2018.
Called as Journeys, Facebook ensures that this tool acknowledges the privacy of the users completely and makes all their data anonymous and aggregated. This tool primarily aims at businesses in making their digital marketing campaign more sublime.
This new tool by the social media giant uses machine learning to automatically detect revenue funnels throughout multiple channels, insights on funnel conversions, and custom insights as well. With Journeys, businesses can influence their marketing on broader levels and aid in fast conversions.
Marketers will also get to uncover various drawbacks in their campaign. They can find opportunities and make product experience better for users.
The Facebook Analytics app launched by this social media company will further help marketers on the go. Available for both Android and iOS, this app allows businesses to get details of their marketing performance coherently.
The app delivers automated insights of a business in addition to others like new users, unique users, purchase conversion rate, retention rates, etc. Other data they would receive includes app installs, add to wishlist, app launches, and more.
With insights, they can get demographic data of conversion rates from app installs to purchases, gender-specific retention, etc.
Businesses would also get notifications alerting them of any peculiar activity pertaining to their data.
With this analytics tool and app, marketers will get more insight into user actions and preferences owing to the omnichannel data and reporting. They can learn the exact activities users are taking part in which lead to conversion.
The entire overview of Journeys and the Facebook Analytics app was summarised in the company’s blog in their Analytics website. It talks more about how businesses can improve their digital marketing tactics.