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Brand awareness campaigns on Facebook are great—they allow you to improve the visibility of your brand and products, and enlarge your fan base.
But, when it comes to driving users to perform specific actions on your website or app, conversion campaigns are your best allies!
Unlike branding campaigns, conversion campaigns usually need not only a more detailed plan and sophisticated structure—they also require a more specific and timely optimization, along with an impeccable bidding strategy.
Every situation and project has its own peculiar characteristics, and needs to be considered carefully in developing the right strategy. But, you can follow some basic steps that serve as a mini-guide on how to master conversion campaigns on Facebook.
Tracking
Before you launch a conversion campaign, always make sure you’re able to properly track your conversions. You should only have one Main KPI—which we’ll discuss in the next section—but you should also have perfect visibility of the whole conversion funnel, in order to be able to answers questions like:
- How many users left the website right after viewing a product without converting?
- How many “add to cart” events did your campaign generate?
- What’s your bounce rate on each step?
You can answer these questions with intermediate, specific events that you track along with your main KPI.
Main KPI
Choosing the right Main KPI enables you to accurately evaluate your campaigns, and optimize them towards your central objective.
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Pick the Pixel or In-App event wisely. Main KPIs that generate poor volume—like the purchase of a very expensive product—or metrics that will most certainly be performed outside of the attribution time frame, may complicate campaign optimization. If you don’t achieve enough conversion volume, you won’t be able to analyze your campaign results properly and take the right course of action to optimize them.
CPA Goal
Make sure your desired cost per conversion is achievable, and that it ensures a transparent analysis of your campaign.
If you’re new to the publisher or launching in a new market—or simply unsure of the best cost per conversion you can get with your campaign—start by optimizing on CPC or other delivery metrics.
It’s easy to estimate the average CPC and CPM, so use this as a good starting point for your new digital advertising activity.
Bidding
Conversion-focused optimization is the most precise way of bidding in conversion campaigns. But, you may want to start with a CPC or CPM optimised bidding model, especially with small audiences.
Once you get your first conversions and a decent volume (and your audience is ample enough), you can switch to oCPM and let Facebook’s algorithm optimize your bidding towards your Main KPI.