One element that justifies any marketing budget towards digital media is measurement and being able to prove Return on Ad Spend (R.O.A.S). There are many ways to track and measure ad performance, but conversion tracking is easy for most people to understand. In simple terms, Conversion Tracking is when a piece of web code is placed on the confirmation page of your website, normally the “Thank you for purchasing/enquiring/subscribing” page. This code only renders after the desired action on the website has been completed, therefore a successful and accurate conversion is recorded. The conversion can then be attributed right down to a specific ad or keyword and in most cases is a powerful metric for determining campaign success.
Google AdWords conversion tracking has been available for a few years, but very recently Facebook woke up and gave all Facebook advertisers access to conversion tracking for ‘off-Facebook’ ads. These are ads that direct people away from Facebook and onto a different web address (i.e. your landing page/website). We have tested Facebook Conversion Tracking and it works much the same as Google AdWords:
To generate a Conversion Pixel, simply navigate to the Facebook Ads Manager and select “Conversion Tracking” on the left hand side.
Then click “Create Conversion Pixel” in a green button on the far right, give it a name and select the conversion category.
A Java Script code will be generated after you create the conversion pixel, copy this code and place it on the confirmation page of your website (instructions for your developer), then join all the dots in your Facebook Ads Manager by linking your ads to the Conversion Pixel (edit your ad, tick the Conversion Tracking box and select the corresponding Conversion Pixel). Next you’re ready to check the tracking status of your Conversion Pixel. This can be done by visiting the conversion page where the code was placed, thereafter in your Facebook Ads Manager, the tracking status should be updated to, “Active” (people who have visited the conversion page within the last 24 hours). The Facebook Conversion Pixel will only report conversions that happened as a result from clicking on a Facebook ad.
Along with conversion tracking, Facebook offers Optimised CPM bidding for conversion driven campaigns, not only focusing on clicks. Optimised CPM bidding will dynamically adjust your bids in order to capture the highest-value impressions that are most likely to convert, in-line with your campaign goals and hence delivering the best possible ROI. It is said that Optimised CPM campaigns will deliver better returns than CPC or CPM campaigns, but standard CPC or CPM bidding is still available for the automated skeptics.
Our tests over the last four weeks have converted post click and at a reasonable cost. Conversions fall under “Actions” in your Facebook reports, so you can run an “Actions by Impression Time” report and filter down to ad level, you’ll find your Pixel name under the “Action Type” column (post impression/click). Conversion tracking allows you to determine which ad delivered the highest ROI, so you can make data driven decisions regarding campaign or website optimisation.
It can be argued that users who are on Facebook, want to stay on Facebook and that purchase intent is much lower on Facebook, so why send people to a website? I think it all depends on the objectives and strategy of the campaign. At least now there is an additional way to attribute return from ‘off-Facebook’ ads.