The Facebook pixel is the gold gem of Facebook’s advertising platform. The pixel’s ability to monitor how successful your Facebook marketing campaigns, as well as create extremely targeted and profitable audiences, allows business owners the opportunity to achieve higher ROI than other traditional marketing channels.
Did you know… a recent experiment conducted by AdEspresso showed that a $1,000 budget optimizing for link clicks resulted in 3.4 times more per conversion than when optimizing for conversions using the Facebook pixel.
That means that you’d have to spend $3,400 while optimizing for link clicks to get the same results as only spending $1,000 while optimizing for conversions.
USE THE FACEBOOK PIXEL!
What if you aren’t currently running Facebook ads to your website? Should you still use it? Simply put…
YES, YOU SHOULD STILL INSTALL THE FACEBOOK PIXEL REGARDLESS OF WHETHER OR NOT YOU ARE RUNNING FACEBOOK ADS.
The Facebook pixel collects data from all traffic coming onto your site, not just traffic coming from Facebook.
Every user visiting your website has a unique signature and Facebook is generally able to assign that unique signature to a Facebook ID.
Bottom line?
Even if you aren’t currently running Facebook ads, the Facebook pixel will allow you to start building a data set so that when you eventually do begin running Facebook ads, you won’t be starting from scratch.
DATA IS WORTH MORE THAN GOLD.
Let’s look at four major use cases for using the Facebook pixel:
- Facebook Conversion Tracking
One of the most powerful things the pixel can do is see how people interact with your website after viewing your Facebook ad. Being able to track your customers across their devices (think computer -> mobile, or mobile -> tablet, etc) lets you see if people first see your ads on one device and then purchase on another. The ability to optimize your ad strategy based on the data the pixel picks up will allow you to build stronger campaigns (such as mobile-focused ad strategies if the majority of your traffic is purchasing from a mobile device). - Retargeting
We’ve all heard of retargeting, right? It’s 50% of the “golden” conversion equation. The Facebook pixel data, along with dynamic ads, allows you to show extremely targeted ads to people who have already visited your site. You can be broad and simply show previous warm traffic your latest sales or narrow and advertise the exact product that they abandoned in your shopping cart. Facebook Business released a case study showing that “Brava Fabrics” saw a 30% jump in ROI while utilizing retargeted ads. Powerful stuff! - Lookalike Audience
The other half of the 50% “golden” conversion equation. The Facebook pixel allows you to create extremely (extremely) targeted lists based on an audience who have similar interests, demographics, purchasing patterns, geolocation, etc. LLA’s as they’re called are able to essentially grow your potential customer base without actually having them ever interact with your website prior to seeing your ads. - Optimize Facebook Conversions
The single most powerful tool that the Facebook pixel brings is the ability to optimize for conversions. As we referenced above with the AdEspresso experiment, the conversion campaign allows Facebook the opportunity to show your ads to people who it believes have the highest percent chance of purchasing.
This is just a small list of things you can do to help decrease your ad spend, increase your conversions and ultimately take your ROAS (Return On Ad Spend) to new heights.
In today’s age of big data, whoever can properly collect, optimize and execute will have a distinct advantage over their competitors.
Start outcompeting TODAY.
