Facebook Conversion Tracking Tool: Is It A Game-Changer for Your Business?

Facebook conversion tracking toolIf you’ve ever spent money on marketing your business you know how important it is to be able to track your success.

You need a system in place that allows you to clearly see the return on your efforts and money spent.

Otherwise, why would you go through the trouble in the first place?

Let’s take generating leads on Facebook, for example.

You can implement the best lead generation strategies in the world but if you’re not able to track your success you’re wasting your time and money.

In my mind, the ability to correctly track your Facebook marketing efforts is THE most critical step in lead generation (and any marketing efforts, for that matter).

That’s why when the Facebook conversion tracking tool recently became available, I did backflips in my living room.

I was so excited (yes, oddly, this sort of thing excites me) as I’ve been waiting for it for a while now.

I’ve been relying on Google Analytics data for my ad campaigns for far too long, which I didn’t trust.

Let’s take a closer look at this new conversion tracking tool and dive into how you can use it to better your Facebook advertising.

Is This Tool A Game-Changer?

I don’t know yet whether it’s a game-changer but the ability to now track the success of your Facebook advertising from within Facebook’s Ads Manager is a huge step in the right direction.

For too long, unless you’re a big brand spending thousands of dollars a month on specialized software, precisely knowing the success of your ad campaigns was a challenge.

This new tool should help make it easier.

Here are some actions you can now clearly track:

  • email opt-ins
  • product downloads
  • sales checkouts
  • webinar registrations
  • views of a particular page
  • adding a product to a shopping cart

How Does It Work?

Ok, stay with me now.

To track these conversions, you generate a unique short piece of code in either your Ads Creator or Power Editor (whichever one you prefer to use) by clicking the “Create Tracking Pixels” link.

Facebook conversion tracking tool

You’ll then give this conversion a name like “book sale” or “webinar registration” and choose a category from the drop down menu that best describes the type of conversion you are tracking (checkouts, registrations, leads, key page view, adds to cart, or other website conversions).

Note: Facebook will report the conversion events in your ads manager by category.

The unique tracking code is then generated.

Copy and paste this code on the page of your website where the conversion happens (or if you’re like me and don’t know squat about coding, send the code to your web guy and ask him to do it).

For example, if you want to track email opt-ins, the code would be pasted onto your “thank you” page that someone lands on after they opt-in to your email list.

Likewise if you want to track checkouts, you would put the conversion tracking pixel on the checkout confirmation page that people see after completing a checkout.

Still with me?

Facebook then connects this conversion back to the ads you’re running.

The cool thing is, Facebook will track conversions that happen within 1 day, 7 days, and 28 days after a person clicks on or views your ad.

So, even if someone sees your ad but doesn’t click on it, and within 28 days they go to your landing page and opt-in (or register or buy…), Facebook will count this as a conversion.

Keep in mind you need unique code for EACH action you’re tracking.

For example, if you’re running two Facebook ad campaigns, one promoting an upcoming webinar and another advertising your free downloadable ebook, you want unique code placed on the respective “confirmation” or “thank you” pages for each campaign.

I know this all sounds a little confusing, but you only have to do these setup steps once.

Once you set up the tracking code for each of the conversions you want to track, all you then have to do moving forward is click the “Track conversions on my website for this ad” box and choose which action you want to track.

Step-By-Step Video for Getting Started

I know all of this sounds a little overwhelming, but it’s really not that hard.

I created this video for you that takes you through step-by-step exactly how to setup and use this new conversion tracking tool.

Where Do You See Your Conversions Reporting?

In Ads Manager, there’s a “Conversion Tracking” link in the left column. Click on it to see a list of the conversion tracking pixels that you created.

If the conversion tracking pixel has been successfully implemented and a conversion event has been recorded, it will be reflected in the Pixel Status column.

If you’re using Power Editor (woohoo!), there’s a conversion tracking link at the top of the page.

I’d love to hear from you. Have tried Facebook’s new conversion tracking tool? Let me know in the Comments below.

 

8 Responses to Facebook Conversion Tracking Tool: Is It A Game-Changer for Your Business?

  1. Bnpositive says:

    Looking for an answer to a “best practice” kind of question. When you’re setting up the tracking pixels, what account should they be created under? If there are a team of individuals working on a project and multiple Admins on the page, can all admins see the data or ONLY the person who created? Is the data transferable to another account once it’s been setup (or in the event of an admin being removed or changed after it was created?)

  2. Janna says:

    How is this different from the Facebook Custom Audience to Your Website tracking? I heard you talk about that strategy on Amy’s podcast and am just now getting around to implement it but found this and now I’m confused.

    • Good question, Janna. The conversion tracking pixel is used to track conversions on your landing page, i.e. – opt-ins, webinar registrations, sales of your product, etc. The conversion tracking pixel goes on your THANK YOU page or the page somebody lands on after they opt-in or buy.

      The website custom audience pixel goes on your website to track people who are coming to your site. It only needs to be placed once on your site, in your site’s theme before the closing head tag. If you’re not sure where that is, I recommend simply sending the pixel to your web person and letting them know where it goes so they can take care of.

  3. Casey Wong says:

    Hi Rick, can U explain or illustrate under what marketing objectives to achieve and which page on a website that the conversion code should be pasted?

    eg when does one chooses registration instead of lead categories? What is their difference in circumstances?

    Can U explain each of the FB conversion pixel category and explain under what circumstance that each category should be chosen over the other?

    I like your website and page and I look forward to hearing from U at this point.

    • Hey Casey, the conversion tracking pixel is going to go on the “thank you” page after the conversion you are after. So for example, if you are collecting an email address, the pixel would go on the next page after someone opts in.

      The categories are really up to you. They don’t have any significance other than organizing for you. For example, leads and registrations might be the same thing.

      Thanks for reading.

      -Rick

  4. Dino says:

    Hi Rick,

    There is still one thing I’m wondering in regards to tracking. Is there any way that I can separate the 1, 7, and 28 day tracking? It feels like a 28 day span is a bit far-fetched and customers might have been impacted in other ways by then.

    • Hey Dino, yep, just create multiple retargeting audiences, one each for the amount of time you want to track. So if you want to track 1, 7, and 28 days, just create one audience for each. Hope that helps!

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