It is impossible to hit 100% of your intended targeted market. However with the Facebook Pixel, the ability of you reaching your targeted market increases exponentially. This is because the Facebook Pixel is an analytics tool that retargets your ads to customers in your specific market that have a greater chance of conversion.
How does it work?
Say for example you are interested in trips to Italy for a summer getaway. So you decide to search the internet for a great place to stay in Italy. When you log onto Facebook, an ad for the same resort you were just looking at is now in your Facebook feed.
Why is it there?
The ad is there because of Facebook pixels. There are many different types of pixels, but they all have the same goal. They are retargeting potential customers for a greater success at conversion. Retargeted customers are 70% more likely to spend, and receive 10 times higher click through rates. Not only that but retargeted customers typically spend on average five times more than a regular customer.
Facebook Pixel for Conversion:
Have you ever been part way through an online purchase, and a last moment decided not to complete the purchase? On average 68% of customers abandon their cart without completing the full transaction. By having a Facebook Pixel, it tracks your audience, and aims your ads towards your audience. The pixel works by creating an ad to remind your customer of their cart and to continue shopping.
The Breakdown:
The Facebook Pixel is a piece of code that you add to your website. There are multiple parts that make up the pixel, the most important one however is what is called “Standard Event Code”. The standard event code controls what the pixel does. You can manually tell the pixel to do anything from track when customers add items to their cart, track searches on your website, track the start of a free trial, track key pages that have been viewed, and so much more. The list below provides the full examples of what can be obtained with the Facebook Pixel.
The best part, is that with the Facebook Pixel, you have the assurance that you will be targeting the right people as well the ability to reach new customers. The main bonus is that you have the opportunity to target people that have visited your website and have the ability to draw them back before they get a chance to visit your competition. The Facebook Pixel also enables you to create look a like audiences to reach more people that are similar to your existing target market.
The Facebook Pixel was developed to track conversions and optimize ads for better conversions. Due to this, it should increase your overall sales, either online or direct sales goals. The great bonus of the Facebook Pixel, is the fact that it is an analytics tool. The Facebook Pixel allows you to measure the effectiveness of each of the ads. It also tracks the conversions that have been made, and allows you to see the cost per conversion.
