Facebook is among the most efficient advertising platforms in the market. It’s not a secret. Advertisers from across the world lean towards Facebook marketing tools because of the huge audience reach it provides.
Moreover, Facebook targeting capabilities allow you to tailor your marketing message to any type of audience. You can reach new clients based on their interests, geo settings, and other targeting settings.
Facebook also allows you to re-engage your existing clients and show them your product updates or any other relevant offer.
What is Facebook Conversion Rate?
Since Facebook provides so many different targeting and setup options it becomes really important to get everything right and avoid targeting people who are not actually interested in your product.
If you aim to get more clients while advertising on Facebook, it becomes one of your primary targets to optimize your efforts for customer conversion.
In this article, we will cover what Facebook Ads Conversion Rate (CR) is, how you can track it and how you can boost it.
Conversion rate is the percentage of visitors that have taken the desired action on your website or landing page. These actions might take the form of a purchase, registration, app download and so on.
What can be considered as a good conversion rate?
A good question. But there is no simple answer to it. Obviously, conversion rates cannot be similar across different ad types and industries. Based on industry research, the average conversion rate for Facebook Ads across all industries is somewhere around 9.21%. But this average Facebook ad conversion rate shouldn't be something you need to rely on: every industry has its own average; the same thing with the average ROI for Facebook advertising.
Fitness ads are enjoying a whopping 14.29% average conversion rate, while industries like technology and industrial services gain only 2.31% and 0.71% respectively.
Conversion tracking in Facebook Ads
You can see your conversion records directly within the Ads Manager dashboard. All you need is Facebook Pixel, a Facebook Ads account, and an active ad campaign. All the basic information can be found without any extra tools.
Having Facebook Pixel installed on your website will allow you to create and track actions that are completed on your website.
Identify what you want your site visitors to do on your website that will qualify as a conversion.
When you set up your Pixel you will have to choose between one of nine pre-existing preset events or create a new custom event.
After that, you will receive a conversion code that you will need to install on your website.
You will need to add events for every action that you want to track on your website. Then you need to add your conversions to your reporting dashboard.
What are the reasons behind low conversion rates?
There are multiple reasons for low conversion rates. Some of them are rooted in the way your landing page or website is optimized (or not optimized) for conversions. Since this article is focused on Facebook itself, let’s suppose that your landing page is perfect.
Facebook Ad problems may vary from targeting issues ending with underutilization of certain built-in tools.
Let’s look deeper into what you can do to boost your Facebook Ads Conversion Rates.
How to optimize your Facebook ads for conversions.
Let’s begin with the basics. Make sure that you have Facebook Pixel installed on your website. While it doesn’t fix your CR per se, statistics gathered by this piece of code will give you access to powerful tools you cannot activate without it. We will cover them in a second but one last point about the pixel: install it before you launch your first campaign.
eLama Advisor will display a notification if your website is missing Facebook Pixel and will redirect you to the page where you can fix this issue.
Revise audience and targeting settings in your campaigns
Facebook Ads provide you with a wide set of targeting options. You can select everything that can affect the accuracy of your ad messaging. For instance, you can target people based on their geolocation, language preferences, and even their potential interests.
Beginner advertisers make all sorts of mistakes when targeting. One of the most recurring problems here is interest stuffing. People often stuff as many relevant audience interests in a single ad set as possible. This leads to your ads being displayed to the wrong audience. This audience will see your ads as irrelevant which will mess up your conversion rates.
Another problem here is forgetting to detail your audience settings in terms of language and geo settings. For example, you can forget to turn off impressions for people who have visited the place you are targeting your ads. eLama Advisor tool will show you recommendations if it identifies that your ad is lacking certain settings.
Make sure your ad copy is compelling
Compelling ad copy, eye-catching imagery and a proper call to action. These ingredients are key if you really want to break through the noise in the over-saturated market. Especially since it’s getting harder and harder to fight for customer attention.
I’m not trying to paint a grim picture. It’s just how it is. Advertisers need to adapt to this market and find new ways to catch the audience’s eye.
There is no perfect recipe for a good ad copy, but one way to approach this problem is to always run A/B tests. These tests will allow you to run ad campaigns against each other in order to see which one converts better or at least drives more clicks.
Also, don’t forget to experiment with ad images to identify the most efficient color schemes, patterns and copy location.
Use Custom Audience targeting options
The Custom Audience is created out of the list of your existing clients. It will allow you to target your ads to them on Facebook, Instagram and the Audience Network. In order to create one, you need to upload a hashed customer list so that Facebook will be able to compare your data with its existing user information.
You can use Custom Audiences to re-engage your existing client base when you decide to roll out a new product, service update, or any other new feature you think your existing customers will be interested in.
What’s better than re-engaging your existing clients? Engaging new clients that have similar behavioral patterns as your existing ones.
This type of audience can be reached with lookalike audiences on Facebook Ads. You choose a custom audience and use it in Ads Manager in order to let Facebook do its magic.
The audience that has already demonstrated an interest in your products and services are more likely to convert. So, it only makes sense to use tools aimed at these customers.
Create a constantly functioning retargeting campaign
Remember I told you that Facebook Pixel is important? Retargeting is another reason why. Nowadays one contact with your brand on social media is often not enough to convince somebody to make a purchase. Constantly reappearing in front of your audience is one of the ways to raise trust towards your brand and products.
So, Facebook Pixel will record instances when somebody has interacted with your ads and will let you target these people in your future campaigns to chase them with your new products or offers, aimed at converting visitors.
Retargeting creates amazing opportunities for any type of industry. Especially if we talk about e-commerce, mobile gaming and in-app purchases.
Making sure that your campaigns are optimized and set up properly will definitely play its role in conversion rate growth. Don’t forget that customers in your industry have a consumption pattern that might affect your average CR.
Use the Advisor tool to ensure you are not making costly mistakes with your campaign settings.
Don’t forget to do this every time you are about to launch a new campaign. Let Advisor scan your campaigns and come up with ideas on how you can boost their performance.