One of the many benefits of Facebook advertising is the ability to optimize for a particular action. Facebook can learn from people's purchasing behaviors so that they can find more people in your target audience who are similar and likely to buy.
But here’s the problem: What if your product is new? What if only a couple of people or none have bought it so far? Facebook won’t have enough data to properly optimize.
In this document, we'll explore how our system leverages Facebook's conversion optimization and ensures that your campaign is optimizing for maximum results.
Before starting to use conversion optimization, make sure you understand the terms and tools related to the technique.
What Is a Conversion?
A conversion is an action taken on your website. This can include anything from visiting a page to completing a purchase.
What Does It Mean to “Optimize” for a Conversion?
When creating a target audience, you have to make an optimization event choice. This choice tells the delivery system what result to try to get for you. For example, some advertisers may want to optimize for link clicks while others may want to optimize for video views. One advantage of implementing a pixel is that you can tell the delivery system to optimize not just for link clicks to your website, but for an action taken on your website.
Each audience accumulates data. An audience (not a campaign) needs to receive a minimum of 15 weekly conversion events in order for Facebook to deliver it with stability and efficiency.
It may be tempting to jump right to optimizing for purchases, assuming that's what you ultimately care about. However, purchases are the rarest type of conversion. Especially when you're just getting started using your pixel for conversion optimization, we recommend choosing more common ones.
Optimizing for an event that occurs more often, such as view content, will give the system more signals and data to hone in on the best delivery and optimization for your campaign.
Why Would the Conversion Event I Optimize Change Over Time?
To help optimize for the right conversion event, our system checks your pixel events before you launch your campaign. Based on your previous pixel events and ongoing events converted by your ad campaign, the system will determine the best conversion event to optimize toward.
For example, instead of optimizing for purchases immediately, the system will optimize for adds-to-cart or content views. Both events are more likely to lead to a purchase than, say, someone engaging with a post on your Page, but may occur frequently enough that we can consistently get you that result (whereas purchases may not at first).
This conversion event will change over time as your ad campaign becomes more successful in receiving conversion events. After each audiences receives the minimum amount of conversions events, it will prioritize to higher quality signal.