Facebook Pixel is an analytics tool developed by Facebook for business owners to monitor conversions efficiently. Conversion is not just sales but multiple other actions that take place on a business website but eventually add value to it. Facebook Pixel lets its users monitor and analyse such conversions by adding cookies on the website. By effectively using Facebook Pixel one can easily check how a Facebook ad is performing and to what audience is it being shown to.
Facebook Pixel provides you with data on the dashboard according to the events created. By event, it is meant the set queries to which Facebook Pixel marks a conversion. This tool lets its users create 17 standard events and other custom events to collect more details about the ad audience and its insights.

How Facebook Pixel Works?

Facebook Pixel sets cookies on websites for which events are created. By using Facebook Pixel, you create a code that when embedded on the website key conversion functions, provides you with the pixel data. The data provided by Facebook Pixel is then used to analyse ad performance.
The 17 standard Facebook Pixel events of which standard codes can be used are:
Purchase – when someone successfully check-out of the cart after making a purchase.
Lead – when someone on the website identifies itself as a lead.
Complete Registration – when someone fills a registration form on the website.
Add Payment Information – when someone adds payment information while making a purchase on the website.
Add to Cart – when someone adds a product to the shopping cart of the website.
Add to Wishlist – when someone drops an item in the wishlist on the website.
Initiate Checkout – when someone begins the checkout process on the website.
Search – when someone uses the search bar to look up for something on the website.
View Content – when someone lands on a specific page of the website.
Contact – when someone fills the contact form or initiates contact in any defined way.
Customise Product – when someone adds a specific product based on colour, size or any other variation to the cart.
Donate – when someone donates on the website for your cause.
Find Location – when someone searches for your business’s store location.
Schedule – when someone books an appointment on the website.
Start Trial – when someone on the website subscribes for a trial.
Submit Application – when someone applies for services on the website which take time to process, such as debit card.
Subscribe – when someone subscribes to a service or product.
These events can be further analytically broken down by using other parameters and small bits of extended codes such as currency, content type etc.
The custom events on the same end, let you analyse conversions in a more precise way by creating rules for events or URLs. These are custom created and can cater to two sets of conversion queries at a time. For example, for an ad campaign selling shoes worth $30-$100, the event created with value and collection query will only shoot a pixel when the right product is ordered within the query value range.
To set up these you need to access the Facebook Events Manager and choose Pixels.
Next, you need to create a pixel and fill out query forms and choose the events to program it according to the need. Set up standard events and you are good to go with!
For creating the custom conversions event access the Facebook Events Manager and instead of choosing Pixels, choose Custom Conversions. Create these by adding the action URL to the form and set queries.
These pixel cookies are enabled on your website once that the code generated by Facebook Pixel is added to it. These when active start shooting pixels every time a chosen event takes place filling the dashboard with analytics and audience demographics. But how to use Facebook Pixel data effectively? Here’s how you can make the best out of the pixel data.

Ways to Effectively Use Facebook Pixel

Facebook Pixel data can be used very effectively to add value to your business and boost sales in most cases. The conversions are essential for online businesses to grow and Facebook Pixel facilitates business owners to make crisp decisions. Following are the ways to effectively use Facebook Pixel:

Conversions Tracking

With Facebook Pixel you can easily track the number of conversions that take place on your website. This means that all users that redirect from a Facebook ad to the website will be taken into consideration before shooting a pixel on the dashboard.
If an ad does not perform well, it can be optimised later to meet the expected results.

Facebook Retargeting

By using conversion insights and Facebook retargeting data can be used to create effective dynamic ads. The conversion data is retrieved by analysing user activity, data is then generated to show what product pages did the user visit describing its potential interest. By using this data, you can successfully remarket your products to the audience that had shown interest in them.
This is an efficient way to make conversions possible. By remarketing products and services, you directly target the user’s interest.

Build Lookalike Audiences

To expand the lists of your potential customers you can use the retargeting data and build a lookalike audience. Facebook helps you with this, it uses the Facebook Pixel data and automatically generates lists of potential customers based on their preferences, interests, location etc.

Optimise Facebook Ads

If an ad campaign does not perform well, it is essential to optimise it. With the regular Facebook ad insights, you might be able to optimise the ad by redesigning it or changing the link or ad copy, but with Pixels, you can do wonders. The Facebook Pixel data due to its precision, lets you optimise ad campaigns according to business goals and purchases.

Optimise Ads for Value

By having data based on product purchase and value, you can optimise ads according to the purchasing power of the audience. By optimising ads using these insights, your ad will only be shown to people that might have made similar value purchases before.
Facebook Pixel with its dynamic insights has made Facebook advertising and conversions fool proof! Facebook Pixels may sound terrifying and complicated, but it is not that complex. Need someone to run successful conversion campaigns? We have mastered this art! Comment below to call a quote.