Why are Facebook ads all the rage?
Facebook advertising is critically important in this day and age. With 1.65 billion people actively using Facebook (1 in 5 people on the planet), it represents a huge opportunity for businesses to reach their audiences.
The majority of Facebook users are logged in and, lucky for Facebook, they typically remain
logged in across their various devices. For this reason, Facebook can identify individuals by their email address in addition to hundreds of other data points depending on the level of information Facebook has gathered about that particular user – information from their Facebook profile (phone number, birthday, gender, interests, jobs) and even information from outside of Facebook.
Not only does Facebook’s platform offer unmatchable reach (1 in 5 people on the planet) but it’s technology exceeds that of Traditional Display Advertising Platforms. It starts with the new Facebook Pixel.
Of course, you’ve seen pixels before. Those cookie based pixels that you have to have your developer drop every time you want to track something new on your web site. Want to track how your ads affect email sign ups? Add it to the dev queue. Want to track how your ads affect add-to-cart rate? Add it to the dev queue. Want to track how your ads affect the conversion rate of returning customers? Add it to the dev queue. And so on, and so forth.
With the new Facebook Pixel, you’re no longer required to set up individualized pixel tracking for every campaign. Once the new Pixel is set up, you’re ready to build countless campaigns, driving the KPIs of your choice while targeting the most profitable traffic segments, based on the behavioral events you deem most valuable to your website.
The second key tool of the Facebook ads platform is the Lookalike Audience algorithm. Basically, Facebook creates a new pool of potentially high-value prospects based on your website traffic and a Custom Audience list that you upload from your CRM. With roughly 100 data points tracked across all its users, Facebook devises Lookalike Audiences based on the degree of similarity between users who have never visited your website and those users included in your Custom Audience.
Still, while Facebook provides a lot of tools to up your ads game – you shouldn’t depend fully on the Facebook Ads platform to drive successful ads campaigns.
Check out our guide on Facebook Advertising to learn how you can unlock the most value from your Facebook ads: A Marketer’s Guide to Facebook Advertising – Designed for eCommerce..