Facebook Pixel’s - A Beginners Guide to Maximizing Revenue

Facebook Pixel’s - A Beginners Guide to Maximizing Revenue

Facebook pixel is Facebook's most powerful marketing tool - You might have heard of it several times but always wondering what it is and how to use it in your favor. 

This single tool is powerful enough to get the most out of your Facebook ad budget. It takes less than 5 minutes to setup and helps you save thousands of dollars a month by giving you better targeting.

In simple words, Facebook Pixel is a way for Facebook to track how people engage with your website. Then, you can use this data to better target your ads by creating custom or lookalike audiences.

Pretty neat, right!?

Today I'll discuss in detail what a Facebook pixel, how to implement it, and, most importantly, how to use it in your favor. 

Let's dig deep 

What is Facebook Pixel? 

Facebook pixel is a piece of code that you can add to your website in order to collect your customer's data and better target your ads.  

Pixels collect data that helps you track conversions, optimize ads, build targeted audiences for future ads, and to retarget people who have already shown some interest in your products or services. 

Technically, the code at as a cookie on your site - when someone visited your website through an ad and took action like completing a purchase, your Facebook pixel will trigger the action in your Facebook ad manager. This will help you see if your visitor has completed the desired action like purchasing a product, filling our landing page, or adding elements in the cart without making a purchase - all on Facebook. 

How To Utilize Pixel Data 

Since Facebook pixel is logging customers' valuable information, you can utilize Facebook Pixel tracking data to target your Facebook ads to people that are already interested in your product.

Interest-based targeting helps you improve your Facebook ad ROI and boost your conversion rate. 

Don't you love the sound of that?

You can also use website visitors data collected from your Facebook pixel to refine your distribution strategy in various ways; 

#1 - Facebook Ad Retargeting 

You can setup a Facebook ad remarketing campaign - target people who have already visited your site and showed interest in your products and services. You can decide to get granular here. For Instant, you can target your visitors with an ad for the exact product that they abandoned in a shopping cart. This will help your visitor think that you really care about their interest. 

#2 - Facebook Ad Targeting With Lookalike Audience 

Facebook Pixel's data help you create a lookalike audience of people who have similar likes, interests, and demographics as of people who have visited your site in the past. This way, you can get your products in front of relevant new eyes.

#3 - Optimize Facebook Ads for Conversions

With Facebook pixel tracking data, you can optimize your Facebook ads for specific conversion events on your website. Without pixels, the only conversion you can optimize for is link clicks. Where pixels can let you optimize for conversions that align more closely with marketing goals, like purchases and sign-ups

Should Your Brand Use Facebook Pixel?

A Big YES! 

Regardless of what type of product or service you offer, you must add the Facebook pixel to your site. There are zero downsides of using Facebook pixels; it will not only boost your profits, but you will also experience a better Facebook ROI.

Even if you're not currently using Facebook ads, the data you'll collect from Facebook Pixel will be super helpful when you ultimately make the jump to Facebook ads.

What Actions Can Facebook Pixel Track? 

There are two different types of events that Facebook pixel can track;

1.Standard events 
2.Custom events

    An event refers to an action that a visitor takes on your website. 

    Standard Events 

    Standard events are advanced features of the Facebook pixel. There are 17 standard Facebook pixel events that you can take advantage of; 

    1.View content -  Track critical page views 


    2.Search - Track searches on your website 


    3.Content - someone contacts your business


    4.Add to cart - Track the items added to cart


    5.Add to wishlist - Track items that are added to wishlist


    6.Initiate checkout - Track people who entered in the checkout flow


    7.Add payment info - Track when a customer adds payment information during checkout.  


    8.Make a purchase - Track purchases completion 

     

    9.Lead - Track when a web visitor becomes a lead


    10.Complete registration - Track when the visitor completes a registration form


    11.Customize Products - Track customer selection of product version


    12.Donate - Track when someone donates.


    13.Find a location - Track when someone searches for your business location.


    14.Schedule - Track when someone books an appointment.


    15.Start trial - Track when someone signs up for a free trial. 


    16.Submit application - Track when someone applies for your products or services.


    17.Subscribe - Track when someone subscribes to a paid product or service.

        Custom Events 

        A custom event is a great way to create an effective automated ad sequence off the back of a custom audience. Still, there are a ton of different custom audience building that Facebook pixel provides. The more data the pixel grabs, the more viewers you can build, so make sure you install it as soon as possible! 

        Custom conversions make use of URL rules built on specific URLs or URL keywords. So, for instance, you might use Facebook pixel tracking to evaluate views of a particular category of products on your website, instead of monitoring views of everything using the "view content" standard event.

        How Other Brand Taking Advantage of Facebook Pixel 

        Perks of using Facebook Pixel are endless. Let's look at some of the world's top brands using Facebook Pixel. 

        AdEspresso 

        They use the Facebook pixel to test campaign optimization types; 

        1.Conversion 
        2.Link Clicks
        3.Reach 
        4.Engagement 

          Their main goal was to find out how these different optimization types impact their key metrics like CPC, CPM, CTR, etc.

          The results are shocking - they found that the cost per lead was more than three times higher for link clicks optimization than for conversion optimization.

          Wolford 

          They use the Facebook pixel to test two different lookalike audiences based on the custom audience from the past Facebook ad campaign.

          One lookalike audience was based on past customers while the other based on interest. 

          Wrapping up: 

          Facebook pixel is a very powerful tool for developing a strategy to meet specific business objectives. It also helps you understand how to engage with current customers and find new leads. 

          If you wish to be able to monitor your campaigns' ROI precisely and utilize off-platform retargeting, you need Facebook's tracking pixel.

          Don't forget to share your experience of using Facebook Pixel with us on our community forum.