How do I measure Facebook?
For marketers who are getting started, Facebook can be measured using LastClick attribution reporting that Facebook natively offers. For more mature marketers, Facebook’s true contribution towards sales or other busieness outcomes have to be measured using advanced marketing measurement techniques.
MMM, MTA and DoEs are three different approaches that provide different insights to Facebook measurement.
DoE, when expertly designed, has the ability to to deliver on the promise of incrementality measurement at the campaign, audience and ad set level in a way that MMM cannot due to practical limits on data granularity and degrees of freedom and MTA cannot due to the aforementioned limitations on user level impression data. DoEs carefully select a subset of users for to serve as the control group, showing them a PSA advertisement usually for a charity of the marketers choice in order to determine the true incrementality of Facebook impressions. A carefully designed Facebook DoE can go into much more detail than simply channel level incrementality and instead can execute always-on simultaneous experimentation at the campaign, audience and ad set level with the only limitations being the number of days required to achieve statistical significance which is driven by reach at campaign/audience/adset level. For most mid-market advertisers as scale this statistical significance is achieved in a matter of weeks, and can be meaningfully updated afterwards on a weekly basis and be used to inform tactical campaign optimization at the weekly level.
MMM measures Facebook impact on aggregated business outcomes at the channel or sub-channel level, providing insights into channel contribution relative to other addressable and non-addressable media and informs strategic planning and forecasting at the annual or quarterly level.
MTA, due to the inability to track user level impression data, can only attribute credit to Facebook ads via connecting click through to site data to conversions at the user level. It is widely known that click only attribution misses 80%+ of total Facebook media attribution, as the number of Facebook impressions in converting sequences vastly outweighs the numbers of clicks in converting sequences. This renders MTA unable to measure holistic Facebook contribution or incrementality both in total and with respect to other media channels.