It sounds weird to say a tool from the very advertiser you’re spending money with can actually save you ad dollars, but in regards to the Facebook pixel, it’s absolutely, 100-percent true.
When used to track the right events (searches, purchases, content views, registrations, etc.), the Facebook pixel can give you powerful information that can not only strengthen your campaigns but, you got it, save money on your advertising.
That means more money for additional ads or, if you’d rather, just more money in your pockets. And who wouldn’t want that?
Here are just a few ways the pixel can help your organization save cash and better utilize its ad dollars overall:
1. It helps you find a winning strategy faster.
Ultimately, the aim of the Facebook pixel is to help you determine 1) what’s working and 2) what isn’t. By determining what types of ads lead to actual, on-page actions, you’re able to hone in on a strategy that not only reaches the right types of leads but succeeds in converting those leads into real, paying customers – and at a faster rate.
Without the pixel, it’s all just guesswork; you have no real statistics to back up your strategic decisions, and you’re really just shooting in the dark. The pixel ensures you reach a stronger, more effective strategy in less time, therefore saving you money.
You can also use your pixel insights to drive advertising efforts across your entire organization – and not just on Facebook. Use what your pixel results teach you to drive your PPC campaigns, content marketing and SEO efforts, and even your print or broadcast campaigns. Information is power, and the Facebook pixel can give you lots of both.
How to do it:
- Create custom reports that contain insights that YOU specifically need to track success. Though default reports can contain some useful information, they count every event triggered as a conversion, and this can often muddle the data and make it hard to act on.
- To create your custom report, you’ll need to use Customizing Columns. Check all the events you want to track individually – add to cart, view content, purchase, etc.
- Delete unnecessary columns, and drag and drop until your report is organized in a simple, easy-to-understand format.
- Click “Save as Preset,” and give your customer report a name. Hit “Apply,” and now your customized report will be available via the “Reports” button anytime you need it.
- You should also configure Google Analytics with your ads. This provides yet another level of data that can help power your campaign strategies.
2. It lets you get specific
The drilled-down data the pixel can provide you is one of its best assets. You can determine what times of day your ads convert best and even build custom audiences to really tailor your messaging and imagery.
Armed with this data, you can customize your advertising campaign down to the most minute detail; while this may cut down on the number of clicks and exposure your ad gets overall, it ultimately results in better, more qualified leads – users who are ready and willing to do business with you right this very second.
How to do it:
- Go to the Tools section of your ad campaign and select “Audiences.” Choose “Create Audience” from the drop-down menu.
- Choose “Customer List” if you want to create a custom audience of emails, phone numbers and other data you already have, opt for “App Activity” if you want your audience based on in-game or in-app actions, or select “Website Traffic” to build an audience built around users’ web activity.
- You can then select events, conditions, and exclusions that will qualify your audience, and give your custom list a name. Group by the amount of money spent, specific products bought, times of day they were active or any number of other factors and traits.
- Once set up, you can use these custom audiences to tailor your ads for each unique group of customers, thereby increasing your ad relevance and your conversions.
- Be sure to create custom audiences that can improve your results. Audiences based on past website visits, Facebook likes and even similarities shared with your current fans/customer base are all great options.
3. It lets you optimize for events
Because the pixel allows you to track dynamic events, not just simple clicks and views, you can actually optimize every single one of your ads for very specific, desired actions on your website.
Want to build your email list? Create a targeted ad that encourages users to sign up for your newsletter, and let the pixel do the rest. Looking to create a list of leads for your sales reps to get in touch with? Optimize your ad to drive traffic to your contact forms, and use the pixel to measure how effective your efforts are.
How to do it:
- Configure your ads to measure dynamic events. (See this video for help!)
- Once your events are set up, click “Increase conversions on your website” as your ad’s objective, and select your desired event as the conversion.
- Facebook will begin to optimizing your ad for your desired action. It will seek out users that are most qualified and likely to convert toward that action, and display your ads to them accordingly.
4. You can delay events
Retargeting is a solid strategy for bringing in new customers and more sales, but unfortunately, it can also be a huge waste of money if not done properly. Just think: About half of the users clicking your ads are going to leave your site within seconds. The majority of those probably aren’t qualified leads.
The real money lies in the users who clicked through and stayed for a bit longer – maybe browsed a page or two, checked out a product or even added something to their cart. With the Facebook pixel, you can delay your event tracking by a desired number of seconds. This allows you to eliminate those quick-bouncers (who probably won’t ever result in a sale), and instead focus your retargeting efforts on more qualified leads who stuck around a bit longer.
How to do it:
- In the general event setup area, simply input a number of seconds into the Delay box.
- Click “Enable on Posts,” “Enable on Page” and “Enable on Taxonomies” to ensure events are properly tracked across all portions of your website.
- Check out our recent Pixel Help post for more tips on event delays.
Without the proper tracking tools in place, you’ll never know if an ad really works – that is, if a customer actually makes a purchase or contacts your company after clicking through an ad. After all, if a click-through isn’t leading to an action or a user is just bouncing the second they hit your page, then your ad has, at its core, failed. It either reached the wrong consumer – someone who either wasn’t ready to buy or wasn’t the right demo for your products – or it had the wrong messaging.
Either way, the dollars you spent on that click are gone for good. The pixel makes sure your ad waste is minimal, so your dollars are spent on what they should be: Bringing real, qualified leads to your website.
Overall, the Facebook pixel gives you three powerful tools in your arsenal – detailed insights into your target audience, a higher return on your investment and more cash in your pockets. Make sure your site is properly equipped with the newest version of the pixel, so you don’t miss out.