<< by on February 26th, 2013
When I entered the world of online advertising, I quickly learned that Google leads and all other platforms follow. This was true with Bing’s Microsoft adCenter and has held true into the social space with Facebook and LinkedIn advertising. While Facebook and LinkedIn advertising offer unmatched demographic targeting options, the advertising platforms are a bit behind the times and the reporting leaves much to be desired.
Late last month, Facebook finally tried to make up some ground by releasing a new conversion tracking process. This is crucial for direct response advertisers who use Facebook ads to lead users to third-party sites. With conversion tracking, Facebook can now show that the ads led to a sale, purchase, or action you wanted the user to take on a specific website (or Facebook page). This measurement tool will provide further optimization potential for the advertising campaigns, as it will become easier to see what works. Since Facebook knows their users (and they are typically forever logged in), a user who views an ad on their mobile phone, but then converts on their desktop computer will be tracked!
Previously, we relied on Google Analytics to provide this information, but now conversion measurement and optimization can be used through the Facebook ad platform on all ads and sponsored stories. With the conversion announcement, optimized CPM bidding was addressed, which has been shown to reduce cost-per-lead, since Facebook knows who is likely to click and convert on ads due to the habits tracked on site.
To get started with conversion measurement:
- Click on the conversion-tracking tab in power editor or on the conversion-tracking link on the left hand nav. in ads manager.
- Create your conversion-tracking pixel. Name your pixel something relevant and select the appropriate category: Checkouts, Registrations, Leads, Key Page Views…etc.
- Copy the code and implement the code within the head element of the desired webpage – typically the thank you page. The pixel status should now change from Unverified to Active!
- Create ads and select “track conversions on my website for this ad” and the appropriate conversion action (if you have more than 1).
- Set a budget and choose optimized CPM to deliver the ad to the people most likely to convert.
- Monitor performance of actions/conversions and optimize your campaign!
Facebook will always be challenged in delivering leads because users are not actively seeking the information advertisers provide, while Google ads catch consumers at the end of the funnel, when they are ready to buy. While this is true, Facebook can be targeted to reach the right consumer and perform very well.
Have you used Facebook conversion tracking yet? I’d love to hear what you think! Share your thoughts below or find me on Twitter @Lokitis.