Written by James Scherer
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Chapter 6: Facebook Ad Conversion Tracking

The same pixel which allows you to create custom audiences, also allows you to track the monetary effect of your Facebook Ad campaigns.

This, of course, means you can track your ad's ROI to determine if you're getting your money's worth (and take steps to improve your success).

While I've written previously on how useful Facebook Ad's conversion tracking is for ecommerce companies, it's also useful for B2B and SaaS.

Step by Step Guide to Installing and Using the Facebook Pixel:

Step #1: Copy and paste the pixel code provided by Facebook.

Facebook Ads

That pixel should look something like this:

<script>  
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;  
n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;  
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,  
document,'script','//connect.facebook.net/en_US/fbevents.js');  
fbq('init', '380173818834214');  
fbq('track', "PageView");</script>  
<noscript><img height="1" width="1" style="display:none"  
src="https://www.facebook.com/tr?id=390177818864214&ev=PageView&noscript=1"  
/></noscript>

In their words...

Instructions

  1. Copy and paste the following code between and on the page of your website you want to track actions. For example, to track registrations, place the code on your 'registration completed' web page.
  2. To include a monetary value for each conversion, edit the code to assign a conversion value using the 'value' and 'currency' fields. You'll also need to modify the JavaScript code and image URL. Learn more.
  3. To verify that the pixel is working correctly, test it by navigating to the web page you put the pixel on. If it's working, the pixel will send that information back to Facebook.
  4. Come back to Facebook to start using your website conversion-tracking pixel in your campaigns.

Step #2: Head to "Tools" in the toolbar and choose "Custom Conversions:"

Facebook Ads

Step #3: Choose a tracking method: Standard Events of Custom Conversions

Facebook Ads

If you select "Standard Events," you'll open a screen that looks like this:

Facebook Ads

Follow the instructions on the screen and copy your selected conversion goal into the code of your existing pixel.

If you select "Custom Conversions," you'll open a screen that looks like this:

facebook ads

For ecommerce sites, custom conversion tracking is awesome because you can determine how many of your Facebook Ad "clickers" went all the way through your funnel and converted on your products.

For SaaS or B2B sites, you can use custom conversion tracking to track the number of Facebook Ad "clickers' who went to your signup page, and even which plan they converted on.

For instance, drop "https://www.saasacme.com/dashboard/?upgrade=true&id=59&plan=pro&type=monthly" into the URL box, choose "Purchase" and label your custom conversion as "monthly plan purchase completion" with a value of $59 (or whatever your monthly plan is). That "value" box will very effectively allow you to track ROI on your ads, as you'll be able to see the exact end-value of people who clicked on your Facebook Ad.

Step #4: Test your tracking pixel is working by going incognito and watching your pixel reporting page within Power Editor:

facebook ads

Note: By the way, Facebook Power Editor has a "Duplicate' function for your ads, which makes it super easy to create ads with the same target audience but different messaging or images. If you're driving the same target audience to different products or plans, for instance, you can use this duplicate function alongside custom conversion tracking to track the success of your ads for different products.

Written by James Scherer

James Scherer is the content editor at Wishpond. When he's not writing or designing for Wishpond he's risking his life biking around the city. Reach out to him on Twitter @JDScherer.