Facebook is the social network that is constantly changing, and although many people complain and roll their eyes at first, almost all Facebook changes are adopted and people forget the way it used to be. Whether it is the design of Facebook or certain features that are added or deleted, it is no secret that Facebook has some control (the networking giant had over 1 billion active users as of September 2012). Their latest new feature is for small businesses and advertisers looking to make the most of Facebook advertising: Facebook Conversion Tracking.
What Is Facebook Conversion Tracking, and Why Does It Matter?
Just five months ago Facebook announced its new conversion tracking tool as a way for direct response marketers to measure the ROI of their Facebook ads. This is done by counting relevant user actions with ads on Facebook including such as registrations, sharing a post, and checkouts, so any direct-response industry should benefit (ecommerce, retail, financial services, travel, etc.). Conversion tracking will also help businesses control optimized cost per impression (oCPM) to show ads to people on Facebook who are most likely to convert.
In short, if you’re using Facebook ads and sponsored stories to hopefully send readers in a specific direction, this new feature allows you to understand the ROI of the ad as well as how to improve that number for your future campaigns.
How to Get Started with Facebook Conversion Tracking
Getting started with Facebook conversion tracking does seem overwhelming at first (and when you’re just reading about it), but once you get started going through the steps it actually is quite easy. Below are just __ simple steps to help guide you through the process:
1. Manage Ads
You first have to find the conversion tracking link, which you can find on the left hand navigation in your ads manager. You can also click on the conversion tracking tab in power editor in Chrome; although the first option is more popular. Once you get there, you will see an option called “Conversion Tracking” in the “Campaign, Pricing and Schedule” section of the ad tool, which you will want to click.
2. Create a Tracking Pixel
This is where things seem tricky. You need to actually create a conversion tracking pixel, but Facebook will do it for you. Click “Create Tracking Pixels” to be taken to another screen where you can name it and determine which category you want to track (checkouts, registrations, etc.). Facebook will then generate a piece of code for you to keep for the next step.
3. Add the Pixel to Your Page
Are you a company that uses Facebook conversion tracking? How has this new feature helped you succeed? Is there anything you wish could be improved? Let us know your story and your thoughts in the comments below.
Image: Facebook by Shutterstock