Facebook recently launched an updated pixel that combines conversion tracking and custom audience functions. The new Facebook Pixel is a great tool for small businesses because it allows them to track multiple user behaviors and then use them for advertising purposes. The new pixel needs to be implemented only once on the pages you want to track. In other words, the pixel helps small businesses track things like people who added something to the cart, visited specific pages, or filled out a contact form.
Why Tracking Behavior Matters
Instead of running Facebook ads and seeing how many impressions and clicks you get, you can see more in detail what people do once they clicked. This way, you can sort the people who clicked on your ad into three categories:
- People who click and do nothing on your website
- People who click and browse your website
- People who click and convert (e.g. filled out a contact form or bought your product)
You can of course do more sorting such as the people who visited your training page versus the people who visited your consulting page or by people who browsed your service page versus people who went on your contact page and so on.
By sorting website visitors and using the new Facebook pixel to keep track of them, you have created the base to be able to do the following:
- Never show an ad again to people who clicked on your ad but did nothing on your website
- Show ads again to people who browsed your website but didn’t buy or contact you
- Show ads to people who are similar to the people who converted
For those of you who are already familiar with this, feel free to skip this! If you are interested in conversion tracking, here is a brief run-through.
First of all, tracking conversions is always recommendable. Secondly, it’s easier than you think. The only thing you need to do to track conversions for your Facebook ads is have the URL of the page that people visit after converting. So if your goal is to have them fill out a contact form, you would implement the pixel on the page that comes up after they hit “submit.” For instance, a thank you page that says something like “Thank you! We have received your message and will get back to you within 24h.” Having a contact form filled out would be one thing you track and you can actually track up to 20 actions, also referred to as custom conversions. You will still be able to assign specific goals to your campaigns so you can track only what you want and to get the conversion statistics you need.
Please find instruction on how to install the Facebook pixel here.
How to Use the New Facebook Conversion Pixel to Maximize Results
There are countless ways small businesses can use the pixel to get more out of their budget and scale up results of Facebook ads.
Examples of how the new pixel makes campaigns more effective:
Tracking conversions enables CPA bidding (Cost per acquisition) for your campaigns. CPA bidding is the most effecting bidding method as long as you have enough conversion data before you start with CPA bidding. Facebook analyzes the users that are converting on your site and optimizes the delivery of your ads to get the most conversions at the lowest CPA for your campaigns based on that info.
Create lookalike audiences based on behaviors such as website visitors, page likes and any other custom conversion. Lookalike audiences are additional target methods for your campaigns and the users in the audience are similar to the ones of the original list you created them from (e.g. website visitors or any other custom conversion.) Facebook looks at likes, behaviors, and other data points that distinguish the users in the original list and finds additional users whose data points match. This is a great way to increase reach. You can use small data sets to then develop big target audiences. Small businesses typically have small data sets, so this is ideal!
Use the Facebook pixel to set up remarketing campaigns. The pixel can be used to create a list of users that visited your site to then use it for advertising campaigns. Another good use of the Facebook Pixel is to use it to target people that already bought from you by creating a remarketing list based on people that visited your thank you page and then up sell them with other products.
Disadvantages of the Facebook Pixel
The only disadvantage of the Facebook Pixel is that you can only create 20 custom conversions and you cannot modify or delete them once created. This means that you have to be extremely careful with what you want to set up because once you reach 20, you cannot add any other goal because 20 is the max and nothing can be deleted to make space for other goals. I have spoken to Facebook and while they couldn’t tell me anything specific, they hinted that they are working on a solution to this issue.