The Facebook Pixel
- August 24, 2018
- Facebook Marketing, Online marketing, SEO, Uncategorised
The Facebook Ads Manager has officially limited a significant amount of targeting options that have previously been available in the past. As of July 1st, people are no longer able to target their audience based off of where they work or anything in the education portion of their profile or target their income, such as their net worth or their income per year. This targeting has gone away from US-based accounts and the categories themselves have now been removed from your Facebook account.
The Facebook Pixel
This recent change is why the Facebook Pixel is becoming so important! The Facebook Pixel is essentially the brain of your particular advertising account. Every pixel is unique to the specific Facebook account. So, when we talk about the Facebook Pixel, that is essentially Facebook’s artificial intelligence that watches everything that happens inside your account. The Facebook Pixel is there to really help your advertising account narrow in on a specific niche or type of customer that you are looking to advertise to.
The pixel watches all the different interaction points that we have inside the advertisement. So, when somebody clicks on your ad, the pixel is able to see that. When someone fills out the form on one of your landing pages or if someone fills out a Facebook lead form, it’s able to see that, too.
Over time, as you advertise, the more money that you give Facebook, the more traffic that you show Facebook, and the more information that pixel gets, the smarter it becomes in being able to identify the customers that it should be bringing your advertisement to.
As we are running new ad copy, new images, testing new angels and new offers on our side to bring your cost per lead down, the Facebook pixel is working with us to accomplish this goal while also bringing up the lead quality.
It’s a constant cycle of getting rid of bad traffic and tweaking who you’re targeting, that way you are only getting responses from the people you want to work with, such as people with good credit. After this occurs, the second round of optimization is begun. During this round, we spend the exact same amount of budget, but we bring in more higher quality leads. From there, we continue to repeat this process.
Eventually, the leads that will be generated are the exact target that you are wanting to reach. So, when you run your ads, all you’re getting is great responses from the right customers.
Ad Costs Per Day
The main campaign that we’re running is an Open House Campaign. Typically speaking, when we launch an Open House Campaign, our leads are going to cost us around $10-$15 a day in the initial round of optimization. Based on the budget we are given for this campaign, this process can happen faster or slower. If you are spending $5 a day on ads it’s going to take longer, if you’re spending $50 a day on ads it’s going to happen a lot faster. It’s just a matter of data being able to get across your Facebook account, so Facebook can watch the people that come through the funnel.
More budget = More people = Faster movement
So, when we launch one of the Open House Campaigns, we’re typically looking at $10-$15 per day. We’ll do the first round of optimization and then our lead cost will go down, typically, by $2-$3 in the first round of optimization. We then re-initiate the account by turning new ads on inside the existing ad set and we go through the optimization process again. Then your ad cost should decrease again by another $2-$3 per day.
For specific statistics on what our Connection Inc. team is spending on a cost per leads basis, please visit our “Facebook Pixel” YouTube video HERE.
Who to Target
As Facebook is going through this process, it is finding out who the right people are and separating them from the wrong people. As Facebook watches the traffic come through, they see who is actually filling out the lead form every single day and they break that down by demographics. By going into your demographics of this particular offer, you can review your results and see who this ad reaches out to the most, i.e. what gender or age range. If your demographics show that your ads are more successful with women in between the ages of 49-54, you can go in, create an ad set and just target that specific marketplace.
You can also view the placement and see which placement is working for your ad, such as mobile or desktop ads. You can then go through and do the same thing where you are optimizing your ad and drop your cost per lead AGAIN! At the same time, Facebook is looking at your total audience and your total reach and impressions and is only showing your ads to the specific people that are actually filling out the form.
We can’t stress enough that this is a patience game. Most people are boosting their Facebook posts one time and are targeting potential people in this market who are interested in real estate. But that doesn’t give ongoing learning to the Facebook pixel, so every time you run a Facebook ad, you’re just crossing your fingers and hoping you luck out in reaching the right person. That’s why we campaign every single account that we have, instead of “one and done” promotions. They’re ongoing advertising campaigns so we can teach your Facebook Pixel inside your account to ultimately get you to this very profitable and very responsive traffic.
The purpose of us telling you all this is to give you more insight into what a more advanced campaign is going to look like and why we need your patience in order to get these campaigns to the point where the pixel is seasoned. Because on the majority of the accounts that are at 30 days, we’re getting responses of “hey these leads are no good”, which is expected to happen the first round of optimization.
What we’re ultimately focused on is the 4 – 7% of very good leads that are being filtered by Agent Legend LO and are then reaching out and contacting you as a result of that system following up with them. We want to keep you away from the bad leads as much as possible, let the automated follow-up system, Agent Legend LO, do the ring-less voicemails, text messages, and emails so that when Facebook generates the leads, you only get the high-quality people coming through.
For more information on the importance of the Facebook Pixel, or if you are interested in finding out how to grow your business online, please contact the Connection Incorporated Team at 1-855-432-3990.
A thriving Canadian entrepreneur. A loving father and husband. A blossoming philanthropist. The CEO of an innovative Digital Marketing Agency. Johnstone has mastered the art of digital marketing on numerous platforms (Facebook, Google, YouTube, Instagram - to name a few) which has given him the unique ability to assist hundreds of loan officers, realtors, lawyers, financial planners, and insurance agents with growing their businesses online. He continues to grow his skills and hone his craft and is ready to bring you up to speed on the latest and greatest in the digital marketing world!
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