If you are interested in leveraging the actions that people take on your website, reducing your cost of conversion, or even re-marketing to people who have visited your website, then utilising the power of the Facebook Pixel is something you must do.
Before we look at what the Facebook Pixel does, I will give you a brief explanation of what it is. The Facebook Pixel is a piece of code that sits on every page of your website and fires information to Facebook based on actions taken by people who have found your website via your Facebook advert.
The Facebook Pixel also sits on specific pages of your website, to track conversions on specific actions, such as someone completing an enquiry, or purchasing a product etc. The Pixel is an information gatherer and it fires off lots of useful data back to Facebook for you to use and generate more sales at a lower cost than if you weren’t using it.
This sounds a bit technical
Don’t worry, it’s not. To set your Pixel up you just need to generate the Pixel code in your Facebook Adverts Manager and send it to your developer to inject it into your website. Once it is set up, the information is returned to your Facebook Adverts Manager and a whole host of new opportunities are now open to you.
If you have ever run a Facebook advert that generates clicks through to your website, you will have more than likely seen the report on your advert set in Adverts Manager that breaks down the cost per click. However, what if your advert was targeting something specifically? What if you were advertising a specific car, or trying to acquire finance leads, or even upselling Warranty packages. The cost per click for these isn’t the metric you will be most interested in; you would be more interested in knowing how many people converted and how much each conversion cost.
A conversion can be anything from sending an enquiry form, completing a finance application, and so on. With the Facebook Pixel, you can track this cost and receive information on how your adverts are performing, which means no more wasted money or only knowing the cost per click.
If an advert set isn’t performing properly and you aren’t converting a lot of people, but you have a heap of them on your website, then you will know something is wrong. Try changing your advert, or the message, and re-measure the results. With the Facebook Pixel activated you will be able to find what resonates with your customer base, and before you know it you will have adverts converting at a lower rate than before, and you won’t be losing money chasing clicks that don’t result in conversions.
Optimise your adverts
With the information the Facebook Pixel is gathering, Facebook can ensure that your adverts are automatically shown to people that are most likely to convert.
You get rich insights into how your adverts are performing and you will even be able to see how customers move between devices before converting.
It is likely you have seen re-targeting adverts around the internet. They are very effective and the click through rate they receive is 10 times higher than that of an advert that isn’t re-targeting.
Once a customer has visited your website and viewed a specific car, why let them leave and potentially forget about it? 68% of people put items in their shopping cart and don’t purchase them, but with re-marketing they are 70 times more likely to convert.
If you like the sound of those odds, then re-marketing your stock to people that have viewed it and are interested in it is a great way to reach people that you aren’t physically able to.
The Facebook Pixel is a powerful tool and it works hard to keep your marketing costs low, target people who are more likely to convert, and ultimately drive you more sales. We will look at how to use it to its full potential in a later blog post, including custom audiences.
You don’t need to be a main dealer or large dealership to utilise Facebook advertising to its full potential. Since you can target your advert sets quite specifically and with all the data the Facebook Pixel collates for you, it makes it easier to receive a good ROI. Marketing your dealership across the largest social media site could be one of the best moves your company makes in 2017!
- Jeremy King Media Motors
Thanks for reading!