Are Your Facebook Ad Dollars Really Paying Off?

Ashley Jensen | August 11, 2020

It’s no surprise that during this corona-halted economy companies are being more careful than ever with their advertising dollars. And the big tech companies are feeling it. Recently, Twitter’s ad sales plunged 25% and even Google dropped 10%. However, Facebook’s sales actually jumped by 11% showing that Facebook can still be a great place to advertise.

 

Facebook is a Powerhouse

Facebook continually shows great ad involvement across the board. Ads on Facebook dynamically engage its 2.60 billion active monthly users. And Facebook is the leading social platform, reaching 60.6% of all Internet users. Plus, 86% of US marketers use Facebook for advertising. 86%! It’s safe to say that Facebook is a powerhouse in the advertising sphere and a great place to reach users of all demographics.

But what about your business? Is it smart to advertise on Facebook, especially right now when each dollar counts? And how can you know if the money you spend on Facebook is even worth it? Enter…pixel code.

 

Facebook Pixel Code

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Facebook pixel is code that you place on your website that collects data. And who doesn’t love data? This data helps you track conversions from Facebook ads, build targeted audiences for future ads, optimize current ads, and even remarket to people who have already used your website. Doesn’t that all sound fantastic?

Facebook pixel works by placing and triggering cookies on your website to track users as they interact with your website and your Facebook ads. This data can then be used to ensure your ads are seen by the people who are most likely to take desired action. And this allows you to improve your Facebook ad conversion rate and get significantly better ROI (Return on Investment for all those non-investment nerds). It means that you get to make sure that the money you put into advertising actually works for you and isn’t just being flushed down the proverbial drain.

Doesn’t that all sound fantastic? Well, it did for one of our clients who recently decided to add Facebook pixel code to their eGOLDTrak Consumer website. This company wanted to be able to track the performance of loan applications that are generated from ads on Facebook. And they wanted to be able to use that information to improve their advertising to generate even more business. Makes sense, right?

Still not convinced? Well, let’s run through this again.

 

Benefits of Facebook Pixel

There can be so, so, so many benefits to using Facebook pixel on your website, but let’s hit the big ones.

 

Conversion Tracking

Facebook pixel helps you see how people interact with your website after viewing your Facebook ad. Do they apply for a loan? Wander around for a minute and then leave? Click on something? It even lets you see if they click on your ad from a mobile device but then switch to a desktop to fill out the loan application. And all of this information can be used to your advantage to help you refine your ad strategy.

 

Find Like-minded Consumers

Facebook can use its targeting data to help your company build an audience for your ads of like-minded consumers. The ads can target people with comparable interests and demographics to people who have already interacted with your website from similar ads. This increases the likelihood of further engagement while expanding your potential customer base.

 

Retargeting

Had a potential customer visit your website? Maybe even begin a loan application but then abandon it? Facebook’s retargeting data and dynamic ads allow you to show targeted ads to these very people. Perhaps giving them the final nudge they need to finish that forgotten loan application.

 

More Metrics

Want to know exactly how effective your advertising dollars are? Facebook pixel allows you to track metrics like the cost per lead and the cost per conversion. With these metrics you can see for yourself if the money you’re spending on advertising is really working and learn what you can do to improve your numbers.

 

So Many Tools

Have you ever wanted to use Facebook’s web conversion campaigns or dynamic ads? You can only use these awesome tools if you’ve installed Facebook pixel. Facebook pixel allows you to track standard events such as purchases, leads, registration completions, adding payment info, loan initiation, contact, find location, and more. It even allows you to add more detail to standard events to be able to track custom events so that you can tailor the Facebook pixel to your specific needs and website. There is just so much data and so many tools at your disposal. And, as my husband always says, who doesn’t want more tools?

 

Are you ready to unleash the power of Facebook pixel? Are you ready to know exactly what all those advertising dollars are really doing and how to make them work even harder and smarter for your business? Do you want the ability to take advantage of Facebook’s 2.60 billion active monthly users? Who am I kidding, of course you do. So, what are you waiting for? Add Facebook pixel to your website today.

Tags: Facebook Ads

Ashley Jensen | August 10, 2020

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