Learning Session: Meta Conversion Campaigns
Meta is the number one social media platform for driving conversions; according to AdEspresso, the average conversion rate for Facebook ads is between 9-10%. This is why it makes perfect sense for businesses to take advantage of Facebook’s unique ad formats, targeting options, and ad objectives–specifically, the conversion optimization objective.
Setting up a Conversion Campaign
When optimizing for conversions, Meta recommends getting about 50 optimization events within your conversion window per week (and they must be attributed to your ads). Your approach to using conversion ads should be based on how much activity your website receives (i.e. how many pixel conversion events occurred on your website in the last month).
Are Conversion Ads Right for Your Business?
Benchmarks to help you decide whether or not conversion ads are right for your business.
Audience Targeting
Targeting the right audience is key for the success of any campaign. Having a hyper-relevant target audience will help you maximize conversions.
For your prospecting campaigns, the most commonly used audiences rely on interest and intent as well as 3rd-party data segments. When it comes to mid and lower funnel campaigns, it’s possible to target audiences in more detail, while strengthening your campaign’s success.
Targeting Strategies
Collect users who start the checkout process, but end up abandoning it. They’ve shown a lot of interest in a service or product, so creating a segment of those users is a great retargeting opportunity. Deliver them a new ad that reminds them about your brand and incentivizes them to purchase. You can even use dynamic retargeting — where you show them the exact product they considered buying before abandoning their cart.
In order to collect these users, you’ll need to place a tracking pixel on all pages of your website. This will enable you to cookie all those who visit your site, build the audience list for retargeting and to enable you to track conversions for campaigns.
Create lookalike audiences to amplify your campaign reach. Lookalike audiences enable you to create a list of users who mimic the online behaviors of those who have visited your site, ensuring that your campaigns reach users who have characteristics that align with your brand’s customers.
Leverage exclusion audiences. It’s just as important in a conversion campaign to indicate which users not to target. With a pixel placed on your website, particularly on conversion points, you can create a pool of users that your campaign will omit targeting (i.e. users who have already converted).
Excluding certain audiences from your campaigns can keep your costs down and prevent you from spending money on people that you know won’t convert.
Retarget users who have shown interest. With retargeting you’re able to deliver ads to a user based on their previous intent-based actions on the web. It’s an important tactic for re-engaging a user who has seen one of your ads before, or shown interest in your brand.
Your Ad is Only as Good as its Landing Page
When you’re determining where you’d like the conversion to happen, make sure you have everything in place to deliver on your ad’s promise. Two things to keep in mind:
Your Pixel should be set up on the page where you want conversions to take place, so it’s ready to track events.
Make sure your landing page matches your ad. In other words, you don’t want a user who is looking for shoes to be taken to a landing page that features tops.
Whatever platform you’re using, the principles of conversion are the same: keep the experience clear, direct, consistent, and enticing. Want to see how our team can help improve your conversion rates? Get in touch!