The payments firm Square has announced Facebook integration allowing small businesses to not only buy ads on the world’s most popular social network, but also easily measure these ads’ effectiveness.
Small businesses processing payments through use of Square can now use the company’s software to buy and target Facebook advertising. The arrangement will enable Square to make money from subscription fees, The New York Times reports.
As Facebook ads bought in this way will be connected directly to sales activity and data, the businesses will be able to better understand how successful their ads are in attracting both new and repeat customers.
Saumil Mehta, Square’s customer engagement lead, explained: “There’s a lot of excitement around buying Facebook ads, but the critical missing link is, if I put down $5, how do I know if it worked? The ability to track and close the loop from advertisement to sale — that’s the holy grail.”