Running Facebook ads for your business? Unsure of the success? Facebook’s tracking pixel is on hand to make conversion tracking, optimisation and remarketing easier than ever (hooray)!
Like many, you might have asked yourself this very question ‘am I wasting time marketing my business on Facebook?’. You may have relatively good engagement with your audience but Facebook tracking allows you to get right down to what we all want to see - is your Facebook activity driving return on investment for your business?
Despite having the conversion pixel and the custom audience pixel, Facebook has released the Facebook pixel which combines the power of both allowing advertisers to measure, optimise and build audiences for ad campaigns. It’s worth noting, if you’re still using the conversion pixel, it will be removed in the second half of 2016 as the Facebook pixel will have the same functionality plus more.
Why introduce the Facebook pixel?
Well, the Facebook conversion pixel is the only tool which report multi-device conversions and conversion tracking has risen 680% since 2013 and growing. So, developing a pixel which incorporates the functionality of this, plus more, was a no-brainer for this savvy social network.
The Facebook pixel can be used for a number of things:
The most standard function of them all, the tracking pixel allows you to accurately identify conversions which occurred as a direct result of the Facebook ad campaign. Of course if you use Google Analytics for tracking visitors and activity on your website you can see how many visits you have had from social channels with the option to delve deeper into each channel. However with the Facebook tracking pixel you can see richer insights within the Facebook Ads Manager where you can see any behaviour which was a direct result of the Facebook ad to fully attribute the value i.e. a purchase on an ecommerce site.
After the tracking pixel has been set up you can automatically bid for conversions. This pixel allows your ad to only be shown to audiences who are likely to convert or who are known to have converted in the past.
Build custom audiences
This allows you to remarket to either everyone who has visited your site or to refine even further, remarketing to specific groups of people. You could take this opportunity to remarket to customers who have viewed certain products on your site and target them either with relevant products or products they viewed but didn’t add to their basket. Additionally, when your pixel has tracked a minimum of 100 conversions, the Facebook pixel allows users to create lookalike audiences providing the opportunity to find new customers who are similar to your website visitors.
How are your ads performing?
You can identify how your adverts are performing by using either standard events or custom conversions and both make it very simply to see what’s working well for you. Standard events represent the type of actions your customers make on your site and this can be set up by adding a snippet of code to your Facebook pixel. This could be used to remarket similar products to them at a later date. Custom conversions on the other hand allow you to track your conversions and set up remarketing by entering the URL you wish to track in the Ads Manager.
How to set up the Facebook pixel?
The Facebook pixel is made up of two main elements, the base code and the standard event code. The base code has to be added to every page on your website whereas the standard event code will have to be customised. There are 9 standard event codes to choose from including add to cart, made a purchase, added payment information and viewed a key page as well as a number of other events. The installation of the Facebook pixel involves three steps and you can find out more about implementing the tracking pixel here.
Well hopefully we’ve given you a basic insight into the benefits of the Facebook tracking pixel and if you're running Facebook ads currently, it's definitely worth trying. If you need any more information or assistance in implementation, please drop us a line to [email protected] our social marketers will be more than happy to lend a hand.