The new feature has been brought in to try and prove to retailers the success that adverts on Facebook have and that adverts really do convert into revenue when placed on the site.
Facebook has been at the centre of criticism and has failed to impress on Wall Strret with investors concerned about the actual amount of revenue the company can generate and with problems that it has placing adverts onto mobile devices accessing the site.
It is hoped that the tracking feature will prove to businesses that the Facebook adverts really work and that this is the place that they should be spending their advertising cash.
According to a report by ibnlive the move is a crucial one for Facebook.
David Baser, a product manager for adverts on Facebook said: “Measuring ad effectiveness and outcomes is absolutely crucial to all types of business and marketers.”
He added that the new feature has been one of the most popular customer requests made to Facebook and the company therefore has responded.
Anyone concerned about issues surrounding privacy have been reassured by Facebook that the information passed on to retailers will be totally anonymous and would only let the businesses see how many people had bought their product as a result of viewing their advert on Facebook.
The tool has been developed to show retailers about direct buys and is aimed at companies that look to see an immediate sale as a result of an advert. It is not designed to show how an advert may influence a potential buyer over the long term.
Debra Aho Williamson from eMarketer told ibnlive that the path to purchase was not as easy on Facebook as it is on Google search but that this new information tool should help not only to increase advertisers on the site but should also help to build confidence in Facebook from existing advertisers.
Currently the tracking tool for businesses is only in the testing stage but Facebook have said that the intend to have the tool fully available for all businesses by the end of this month.
This latest new feature is just one of many that Facebook have been working on to try and address the concerns of advertisers on the social network and we will now have to wait to see if all the changes will help to turn the mood of of potential and existing advertisers with Facebook.