The Expert’s Guide to Facebook Conversion Ads You Should Review Before Publishing Your Campaign

Last updated on by Stephanie Mialki in Facebook Advertising

Facebook Ads is always looking to develop new ways for brands to improve their metrics and grow their success, whatever that may look like.

In fact, the average Facebook Ad conversion rate across all industries (9.21%) is more than double Google’s average search conversion rate (4.40%):

Yet, as with any platform, there’s always room for improvement — especially in those industries with below average rates, like apparel (4.11%), retail (3.26%), technology (2.31%), and travel & hospitality (2.82%).

That’s 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.

What are Facebook conversion ads?

Any Facebook ad with the website conversion objective is considered a Facebook conversion ad. Whether your goal is page visits, sales, video views, or another action to help grow online business, Facebook website conversion ads encourage potential customers to visit your post-click page to do take action:

This ad objective helps you:

How to set them up

Getting started

When optimizing for conversions, Facebook recommends getting about 50 optimization events within your conversion window per week.

Note: These 50 optimization events must be attributable to your ads. If they don’t result from someone seeing/clicking (depending on your conversion window) one of your ads — or if they happen outside your conversion window — then they don’t count towards the 50.

Also, simply selecting the conversions marketing objective doesn’t mean your ad set’s delivery will be optimized for conversions. You have to choose a specific conversion optimization event from the “Conversions” section of ad set creation:

You also need to make sure Optimization for Ad Delivery is set to “Conversions:”

Selecting the right conversion

To help you choose the right conversion strategy, check your Meta Pixel events. Your approach to using conversion ads (and if you should even be using them at all) should be based on how much activity your website receives, which is determined by how many pixel conversion events occurred on your website in the last month.

Here are some benchmark numbers to give you context around whether or not website conversion ads are right for your business:

Note: The number of pixel events is a measure of all website activity, not just the activity driven by Facebook ads.

Here are some conversion options Facebook recommends when creating your ad set and optimizing through your pixel:

Creating your target audience

Facebook recommends setting up the following ad targeting methods with ads manager:

Setting up your bid strategy

When adding the conversion optimization objective to your Facebook ads, you may want to adjust your bid strategy. Since conversion results tend to be closely in line with your ultimate business outcome, you’re better able to assign a value to them.

By giving Facebook’s delivery system this value in the form of a target cost or bid cap, the system can further refine the types of results it generates to meet your goals:

If you use a target cost or bid cap, you need to figure out what amount to set. Although that amount will be different for everyone, it’s best to start by determining: What is a conversion within your conversion window worth to you, whether on average (cost target) or at most (bid cap)?

Note: To answer this, consider lifetime value too (for instance, if you get a new customer to purchase, that could lead to future purchases). Start with this number and raise it if needed.

Understanding your results

The only way to increase conversions is to analyze them correctly so that you can make the necessary adjustments.

Although this isn’t a comprehensive list — and metrics will vary based on which pixel code you’re tracking — you can use the following metrics under their corresponding category as a starting point when conversion tracking:

Metrics for cost per conversion:

Metrics for total value of conversions:

Note: These metrics refer to conversions for a website (using a pixel) or mobile app (using Facebook SDK).

If Conversion ads aren’t an option…

Conversions vs. link clicks

Conversion optimization isn’t always an option if you can’t place a pixel on the post-click website or thank you page. For example, it may not be possible if you’re sending people to:

In any of these cases, you’ll have to optimize your ad for link clicks instead of conversion event:

With this selection, Facebook will show your ad to people within your original targeting demographics who are ALSO more likely to click links.

Conversion ads vs. lead generation ads

If you’re unable to set up the Meta pixel, or you’re giving away something for free, you can use Lead ads as an alternative to conversion ads. The main difference between Facebook conversion ads and lead generation ads is that lead ads don’t send prospects to a dedicated post-click page as conversion ads do — so you may not see as many conversions. However, you can still track conversions from the ad.

Connect your conversion ad to a relevant post-click landing page

No matter what you’re offering or what your conversion event is, it’s important to always link your Facebook campaign to a post-click landing page because that’s where the ultimate conversion happens.

To see how Instapage can help you create relevant post-click landing pages at scale to improve your conversion rates even more, Instapage 14-day free trial today.

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