A few weeks ago, we wrote a post about the Facebook Pixel and the wonderful way it can improve your social media marketing analytics. However, it wasn’t until we ventured further into the murky realm of the Pixel that we realised its true potential.
What is the Facebook Pixel?
The FB Pixel is a piece of code that allows you to track conversions, optimise adverts for conversions and retarget audiences who have engaged with your brand. Let’s break it down a bit more…
As mentioned before, the FB Pixel allows you to be very specific about who you advertise to and why. In order to do that, one needs to understand the three main benefits or purposes of the Pixel before you can apply it to your social media marketing strategy:
- Tracking Conversions
- Optimising adverts for Conversions
- Retargeting your adverts
The FB Pixel allows you to track your conversions in a whole new way. It has the capability to tell you how much each individual conversion is costing you, allowing you to analyse whether or not your ad is COSTING you money rather than MAKING you money.
At The Nexus Agency, we sell a range of marketing solutions, each with their own value. If we put out two adverts, one promoting our social media management service and one advertising out SEO service, the pixel would allow us to establish exactly how much each conversion to each service cost us. And from there we would weigh the conversion cost against the value of the service. Thus allowing to determine whether or not it is the most cost-effective route to take.
In a nutshell, the Facebook Pixel allows you to gain a more accurate reading of your R.O.I in terms of marketing spend.
Optimised ads for Conversions
Facebook will optimise your ad for your audience, encouraging higher click-through rates and, potentially, higher conversions.
This is one of the best features of the FB Pixel! Say a customer was on your website browsing your selection of fine wine, they filled their basket with nearly £200 worth of product… then logged off and didn’t purchase. Frustrated? Yes, we would be too! But before you ask why, ask yourself, how do I get them back?
Enter the Facebook Pixel. The pixel will take retarget that customer with the same items they were interested in through ad placements on their Facebook feed. This method of retargeting has a click through rate that is 10x higher than normal ads, customers are 70% more likely to buy something as they already have an interest and they are also likely to spend 5x more than normal customers.
The statistics speak for themselves, existing customers are an audience not to be ignored! And the so is the Facebook Pixel. In terms of gathering a complete social media marketing picture, the Pixel is a tool that all marketers should be learning about and be utilising.
But why not let us do the hard work for you? The Nexus Agency offers the Digital Marketing Campaign (DMC). This is a fully integrated campaign that includes:
- Social Media Management
- Search Engine Optimisation
- Search Engine Marketing
- Online Content Management
To find out more click here or call us on 01294 315054