The digital landscape is evolving so rapidly that businesses are finding it hard to keep a track of the algorithm. One of the most essential aspects is to understand the attributes of your audience. Facebook launched a tool called Facebook Pixel that helps in gathering insights into the customer base and using it to derive more traffic. If businesses use this tool correctly, they can easily optimize their advertisement, increase conversion and maximize ROI. In this post we will explain the different aspects of Facebook pixel and how businesses can use it for retargeting.

What is this powerful tool: Facebook Pixel

Facebook Pixel is a code which business owners embed on their website. This code help businesses in collecting the information of the audience who are visiting the website and how they are interacting on the website. This enables marketers to retarget the advertisement, measure the performance of ads, and optimize  the marketing strategies accordingly. In simpler terms, Facebook Pixel is a bridge between your website and Facebook, collecting critical data about the users who are interacting with your website.

Understanding Retargeting with the help of Facebook Pixel

Let us first understand what is Retargeting, Retargeting is the process of reconnecting with your potential customers. These customers have shown interest in your product/service but have not converted into sales. Facebook Pixel helps in making a list of these customers and retargeting relevant advertisements. Below are mentioned the steps of how Facebook Pixel works:

Installation of Pixel: As mentioned above, Facebook Pixel is embedded on the website of the business. Make sure that the tool is added to all the relevant pages of the website where the customer data can be collected for maximum utilization. 

Custom-made audience: Gather insights from data collected on Facebook Pixel and understand the audience. Create a group of audiences which perform specific actions on the website. For example: one group of audiences that have just visited the website. Other groups will be the audience who have put items in cart but not completed the checkout.

Targeted ads: Facebook allows you to show targeted ads to the custom audience. As mentioned in the above point, One group will get ads to visit the website again to check the collection while the other can get more targeted ads to complete the checkout and get a specific percent of discount.

Retargeting is essential since it reduces the ad budget and shows the audience specific ads that will help them convert from audience to customer. By showing relevant ads you can maximize the conversion rate and ROI and also increase brand awareness.

How Facebook Pixel Enable Conversion Tracking

To understand the effect of an advertising campaign, the business must understand and keep a check on the conversion rate. Facebook Pixel allows business owners to track the conversion, keep a check on website visitors. Keep a track on the audience when they enter your website till the time they convert into leads.

Key Conversion Events: 

Purchase: Customers who actually purchase your product/service on the website. 

Lead Generation: Customers who fill a form or create a profile on your website. 

Add to cart: Customers who add products to the cart and do not complete the purchase. 

Website visit: User who checks the content on the website and does not engage on the website.

It is highly important to check which user on your website is performing which of the above events. It will help in gaining valuable insights and can make data-driven decisions to optimize your campaign. Identify high-performing ad sets, refine your targeting, and A/B test different ad creatives and landing pages to maximize your results.

Advanced Pixel Features: Standard Events and Custom Conversion

To streamline the process of conversion tracking, Facebook has provided standard events which will track common website actions. However if you want to track advanced audience decisions there are custom conversion features. 

Standard Events:

• Add to Cart
• Initiate Checkout
• Purchase
• Search
• View Content

Custom Conversions:

• Sign-ups
• Newsletter subscriptions
• Video views
• App downloads

Website owners need to carefully select the standard events and custom conversions to understand user behavior and optimize advertising strategy accordingly. 

Tips and Tricks for Successful usage of Facebook Pixel

• Install the tool correctly on your website. Install the tool on those pages which can help you track relevant data of customers. 
• Select Events which will provide appropriate data which will matter to your business the most. 
• Very important point is to adhere to the privacy of users. Take appropriate permission from users to collect data. 
• Regularly monitor the events and custom conversions that you have setup in website. If the data you are receiving is not relevant then make changes and optimize. 
• Within the tool there is an extension which will help in troubleshooting and checking pixel implementation.

All the above mentioned tips will help you in strategically managing Facebook Pixel. You can consistently optimize your advertising campaign and unlock the potential of retargeting. Keep in mind that the key to successful digital business is to understand you specific audience, create relevant and to the point content, and measure the impact of your advertising campaign regularly. 

Conclusion

For business owners, Facebook pixel is an important tool which can help in optimizing the marketing efforts, show relevant content to the audience and increase the conversion rate. In the above post, we have discussed how to effectively use the tool for retargeting and conversion tracking. To be relevant on digital platform, one thing is important to understand your audience which will become easier with pixel. Gather relevant data, optimize and retarget your ads and drive relevant ROI with the data collected from pixel. Remember the two key terms for maximized ROI: Optimization and Retargeting.