Facebook’s conversion tracking setup is critical for you to excel as an advertiser in this modern age.
It is not all about the measurement of your return on investment (ROI) via Facebook ads. You can actually increase the generated revenue from advertising on this platform, one of the biggest social media site.
Every advertiser aims to crush their competitors to stand out in the market, right? Achieving a positive ROI, indeed, an achievement, but boosted revenue is something much better. To simply state, when you get back, what you have initially spent feels good, but when you get a return higher than your initial investment, it is the best feeling ever.
Using Conversion Tracking On Facebook
Before we explore more about why we should use conversion tracking on Facebook, let’s discuss the reasons why it is important to set up in the first place before you icorporate Facebook ads and Facebook event manager .
Measure and Return Investment
The feature enables you to track the number of conversions that you have received, be it form completions, sales, email subscriptions, or anything else that your ad campaigns aim for.
You are allowed to measure your A/B tests’ performance. This way, you can easily continue to improve your campaigns and make necessary changes when required. If you do not know which of your ads are sources of conversions, you cannot do much. You will not be able to make data-driven and well-informed decisions. Tracking conversion allows you to see where it is coming from, helping you make the right decisions.
Conversion tracking benefits you by allowing the optimization of facebook’s algorithms to provide you with better results. Bear in mind that the algorithm is very smart. It tracks conversions on your ads and utilizes that data to target more customers. Hence you get a good number of conversions. Facebook helps you attract a relevant audience. If you do not set up conversion tracking on Facebook, you are missing out on something great.
Here we will discuss two ways of implementing Facebook conversion tracking. Both of these methods typically depend on the availability of the Facebook pixel. If you have it installed on your site, you are good to go!
Now let’s see two methods that you can choose from:
Conversion Tracking Methods
When it comes to Facebook, we have two different options for tracking our conversions. However, none of them can be labeled as the right way. It is all about choosing what works best for you!
Facebook Custom Conversions
Ever heard of custom conversions? No need to worry if you do not know what this is. We have got you covered. Custom conversions are the easiest way to set up your conversion tracking with Facebook. You do not have to pay any extra charges. If you have the new Facebook pixel installed, you only have to deal with the creation of Custom Conversions in the Ad Manager of Facebook.
You only need to identify your post-conversion page’s web address, or you say, its partial URL, insert a value, and voila!
Yes, it is that easy!
If you have no idea what is post-conversion page, here is what you need to know:
What Is A Post-Conversion Page?
When people convert, they are directed to a page, and that page is known as the post-conversion page. For instance, a thank you page that your customers see right after they have signed up for your newsletter, or after they are done placing their order with you.
Moreover, you can also choose a conversion value for each of your custom conversion. It means when any new conversion is recorded, the value you have specified will be assigned to it by Facebook.
When you assign values to conversions, the conversion tracking becomes a lot easier, and it is possible to track your return on investment if the ad manager.
Facebook Standard Events
The second method is conversion tracking on Facebook via Standard Events.
However, this method is complex to implement as compared to Custom Conversions. It is because it requires a slight modification of the Facebook pixel. But it is the most suitable solution. It is an optional event that can be added to the base pixel code of Facebook.
However, these are only placed at certain pages and not on each page with the base pixel code. Pages that have Standard Events are those that track user behavior, such as tracking conversion.
Simply to say, your base pixel code is on every page, but pages where you want to track your conversions, you should use the slightly modified Facebook pixel code along with Standard event code.
Now you might be wondering why someone will use this complicated method over the simple one, i.e., custom conversion?
The reason? The provision of data to Facebook.
You modify your pixel code to send a certain type of data to Facebook. That data is solely based on the website that your customers visit. You are enabled to add data to the code according to what your customers are signing up or buying from you.
You are required to have some prior experience with coding, or you can ask your programmer friend to do it. Hire a professional if you must.
Here is how an example for you:
For instance, you own an e-commerce website, and you sell shoes. So when your customers make a purchase, they will be directed to the same page that all customers are taken to when they shop from any website. This page is updated with their order details. You have added the standard event code ‘purchase’ to the Facebook pixel on this page.
At the same time, you have also added a code that automatically adds the total value of your customers’ order to that code along with product details such as type and category.
The Verdict: Which Method Should You Use For Conversion Tracking on Facebook?
If you are still confused about what method to use, here are some highlights to make it easier for you:
Why Choose Custom Conversions?
- Your conversion tracking events are less than 100.
- Each of your services and products have a unique order confirmation page of their own, and the purchase value never changes.
- You are in search of the easiest way to implement Facebook Conversion Tracking.
Why Choose Standard Events?
- The conversion events that you have to track are more than 100.
- You feature a dynamic check out system, and you need to track values.
- You want to integrate additional parameters to your Facebook for advanced tracking and custom audience creation.
- Setting up the Facebook pixel and modifying its code is not an issue for you.