50: Valerie Shoopman on Tracking Your Facebook Ad Performance

What this episode covers

One of the most powerful advertising platforms that has ever existed is Facebook. Marketers have more data and more opportunities to display their advertising to their exact qualified target audience than ever before. Here to show us the “how-to” of tracking your ad performance so you know which ads are performing the best is Facebook Marketing Expert, host of the Entrepreneur Power Hour Podcast, and Life on Fire Elite-level coaching client, Valerie Shoopman! Step 1 in the process is placing your Facebook conversion or registration pixel. This is a small piece of code that is triggered (“fired”) when a person lands on a certain page. The purpose of the conversion pixel is that it is only trigger when someone “converts”. Meaning, if the initial step in your marketing funnel is for someone to input their name and email address, you want to know what percentage of people are doing that. By placing the conversion pixel on what’s referred to as the “thank you” page (which is the page people are redirected to right after they submit their name and email address), the pixel will only fire for people who see that page. Then, by comparing the number of people who clicked on your ad vs. the number of times your pixel fired, you will be able to determine your conversion ratio. A second conversion pixel can then be created to track the number of sales you generate. The process is very similar. This piece of code would be place on the thank you page that gets displayed to anyone who places and order with you, therefore allowing you to track your entire sales process from start to finish! To place the pixel code on your pages, the code needs to be place between what’s called the “head” tags. With easy to use software such as LeadPages you can set up a thank you page and input the code in seconds! You’re now ready to create your ad in Facebook! Using Facebook’s tracking pixels, Val suggests using “Website conversion” tracking. You would attach the conversion pixel you created (not the sales pixel, that is addressed in the next step) to this ad so Facebook knows how to track your ad. The next step is to dive into the Power Editor in Facebook and attach the sales pixel to your ad. This is what allows you to complete the tracking loop from the first click on your ad until an eventual sale is made! And, finally, to see all of this tracking and what the progress and results of your ads are, it is helpful to customize Facebook’s reporting features. This will allow you to display only the information you need to focus on so you can pause the ads that are underperforming and potentially increase your ad spend on the ads that are doing the best! Great stuff, Val! For more great how-to trainings from Valerie and interviews with top entrepreneurs search for “Entrepreneur Power Hour” in iTunes and subscribe, rate, and review the show! Thank you for subscribing to our podcast in iTunes! We believe in you!

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