5 Ways to Improve Your Facebook Ad Conversion Rates

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Facebook Ad Conversion Rates

Facebook is a gold mine. Literally! The massive audience it possesses and the amazing features it has offer great benefits to big, small, and medium sized businesses who choose to advertise on the platform.

However, if you’re running Facebook ads, you should have a clear goal: a strong conversion rate, brand awareness, lead generation, or others. In this post, UAWC marketing agency will be focusing on conversions.

Your Facebook ad conversion rate lets you know how many conversions occurred as opposed to the number of impressions your ad generated. It also lets you know how relevant your ad is to your target audience, how effective your ads are, what you need to tweak, and a lot more.

In this article, we’ll discuss what a Facebook conversion ad is, how to track Facebook conversion, and, more importantly, tips to improve your Facebook ad conversion rates.

What is a Facebook Conversion ad?

Facebook Conversion ad

Facebook Conversion ads are ads that are specifically set up to drive sales or specific off-site actions like registering, subscribing to an email newsletter or downloading a piece of content. They aren’t meant to drive traffic to websites or be used for lead generation. The actions that Facebook Conversion ads drive include signing up for a free trial and adding an item to the cart/purchases, amongst others.

Custom event tracking for Facebook conversion ads

Facebook is aware that business goals can be complicated and that sales aren’t the only conversion valuable to track. As a result, you may track various custom conversion events on the platform. This can be set up via the Facebook tracking pixel in the Business Manager.

Facebook Conversion

Some of these conversion events that can be tracked are:

  • Finding a location;

  • Adding items to the cart;

  • Scheduling an appointment;

  • Initiating Checkout;

  • Viewing Content ;

  • Submitting an application, and a lot more.

You can also code custom conversion events by yourself.

What’s the average conversion rate for Facebook ads?

Research has shown that the average conversion rate for Facebook ads is 9-10%. This is higher than the average conversion rate for Google Ads.

However, this standard Facebook conversion rate benchmark doesn’t apply to all industries or cut across all levels. Some campaigns and industries will most likely generate much higher conversion rates on their Facebook ads, while others will naturally run lower. The conversion rate of high-value, high-price specialist goods is often lower than that of affordable daily goods. For instance, the conversion rate of a $50 face cream that is aggressively promoted to older women will be quite lower than that of $5 lipsticks targeted at women in general.

Also, the familiarity of your audience with your product can increase or decrease your conversion rate metrics. Retargeting campaigns directed at current clients and audiences that have been introduced to your ads frequently tend to have greater conversion rates than other campaigns. This is not to say that ads targeting prospects at the beginning of their customer journey are not worthwhile; rather, you need to keep guiding them down the funnel so they can finally convert into paying clients.

How to track Facebook ad conversions

Are you ready to track your Facebook ads conversion rates? There are several ways to go about it. Keep reading to find out the various ways you can do it.

Tracking conversion rates with Facebook Ads Manager

Facebook’s regular features can provide you with vital information like your conversion rate for each campaign, the precise number of conversions received, and the average cost per conversion.

Use Facebook Ads Manager to keep track of your ongoing and prior campaigns. You can modify your main reporting dashboard by including extra columns with data pertinent to a particular campaign. To do this, select Columns: Performance, then scroll down to Customize Columns.

Conversion ad

After doing that, go to Conversions and Standard Events. In addition to data on the overall number of conversions, unique conversions, conversion value, cost, and unique cost, you may include as many other metrics as you need.

Tracking Facebook ad conversion rates with AdEspresso

AdEspresso is a platform for developing, publishing, managing, and tracking Facebook ads. It enables you to learn as much as you can about the effectiveness of your advertisements, the reasons behind your current results, and how to adjust your advertising strategy accordingly.

AdEspresso

AdEspresso produces customized recommendations on improving your campaigns to deliver maximum results at a lesser cost. It also allows you to view exactly how many conversions each ad in each campaign has received.

AdEspresso produces

Tips for improving Facebook ad conversion rates

Nobody wants to embark on a journey without the assurance of good results. The same goes for running Facebook ads.

If you want to improve your Facebook ads conversion rates, pay keen attention to these five tips.

Tip #1: Focus on relevance

Relevance is very important when it comes to Facebook ads. It is linked directly to the price you pay for each user action and can affect your ad delivery. Creating ads relevant to your target audience as much as possible is necessary. Get familiar with user segmentation.

Tip #2: Use Dynamic Ads

Use Dynamic Ads to match your product categories with the right audience. You can use Dynamic Ads to display the appropriate products to the appropriate users at the appropriate moment by drawing from submitted product inventories. For instance, users who recently clicked on an ad for shoes from a rival would see leather shoes on Facebook if a store like Lennards was marketing their inventory doing this. You may advertise your entire inventory to the most pertinent users while saving time.

Tip #3: Don’t cheap out

Of course! You want to gain the best results while spending as little money as possible. While that option is alright, it might not be good for you. Sometimes, you should take the pain of paying for quality. Facebook can link you with more valuable users who are much more likely to convert if your budget is higher. Aside from instant conversion, these clients are more likely to convert at higher average order values or keep coming back over the long term.

Tip #4: Create a copy that highlights value

If you want prospective clients to take a certain action, you need to tell them exactly what to do and the benefits they stand to gain from doing so. A good copy highlighting value can be structured like this; “Want to win a free pair of our limited edition AirPods? Create a wishlist and invite ten friends to use it for additional entries”

Tip #5: Have extremely clear CTAs

The copy in the previous tip clearly stated the action that the customer was required to take. This is exactly what a clear call to action should also do. It should help the prospects know exactly what action you want them to take and what will happen once they take the required action.

We hope you learnt a thing or two while reading this post. For further inquiries, comments or questions, feel free to contact us.

Read Also: The Best Free Programs and Websites for Converting Units and Currency