• Wall Street Journal, Wednesday, June 14, 2017 7:09 AM

Facebook announced new tools to help marketers make their ads perform better and target consumers most likely to buy their products. Facebook said the tools will enable advertisers to use purchase data to optimize their campaigns to target consumers who spend the most. Advertisers are already sharing purchase data from their websites with Facebook to determine whether ads on Facebook are generating sales, but the new tools will go a step farther. The goal is for the tools is "to reduce the amount of money advertisers spend targeting the wrong people—known in the ad industry as wastage," according to a Wall Street Journal report. "Facebook is hoping its algorithms, which take advantage of the rich set of data it has on its 1.9 billion users, will be able to do some of this job for them, or at the very least help them focus their ad campaigns on driving real purchases rather than just clicks. If Facebook can prove it is driving sales, advertisers are likely to increase their spending with the platform," the Journal reported.

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