It’s important when choosing an objective to choose the one that aligns the best with you or your agent’s or advisor’s business goals. Naturally, advertisers want to reach potential customers who may be interested in their product or service. Facebook’s Conversions Objective takes this one step further, by targeting those customers who are not only interested but also most likely to take action on your offer.
Take for instance the example of a national insurance provider whose customers typically submit a form for a consultation and quote on their website. For the local Page running a campaign, tracking web traffic events on a Landing Page is invaluable information. This is where the Conversions Objective is a great way to optimize Facebook and Intsagram campaigns towards these form submissions on the individual landing pages. Running the Conversions Objective directs Facebook to find those customers who have shown intent for the Conversion Event you identify as relevant to your campaign. In this case, Facebook can find those customers who perhaps visited a competing insurance company’s submission form, but did not finish completing their information.
So, what does this look like at scale? Simple – utilize individualized landing pages for each of your locations but install the same Pixel on all Pages. Each location will be able to run its own individual Facebook campaign to its target sales area but can benefit from the national brand’s inbound corporate data while still enabling local campaign optimization. In this way, both local and global partners empower each other.
About the Conversions Objective
In Facebook’s arsenal, the Conversions objective is a strong option when you not only want to drive users to a destination but to encourage them to take a specific action on this page. To be able to track specific actions such as page visits or leads, a Facebook Pixel must be installed.
While “conversions” imply sales, in truth a “conversion” can mean many things, which is what makes the objective so flexible. For the insurance industry, a conversion might mean free quotes or scheduling a consultation on a landing page, whereas a brick and mortar QSR might consider a conversion someone viewing their menu online.
The key to the Conversions Objective is that it enables marketers a pathway to define what success looks like through data, and its power comes from its strategic flexibility. Ultimately, what you or a user predefined as the conversion event, Facebook’s algorithm will work to find users who will do exactly that. For Financial Services in particular, where there is a reliance on a combination of online and offline attribution, the Conversions Objective is the perfect choice to empower both ends.
Best Uses of The Facebook Pixel In Financial Services Conversions Ads
Though we can’t talk about the Conversions Objective without first discussing the Facebook Pixel, as the two are inextricably linked. The Facebook Pixel is a piece of code for your website that lets you measure, optimize and build audiences for your campaigns. Using your Pixel, you can use it to measure the effectiveness of your advertising by understanding the actions people take on your website, to drive sales, and most importantly, make sure your ads are being shown to the right people.
When it’s properly installed, the Pixel will fire when a user has taken an action on your site. This is inclusive of booking appointments, adding an item to their cart or even purchasing a product. These actions are known as “Events” and may be monitored via your Pixel’s Events Manager page. Once a user has taken an action that fired the Pixel, you’ll be able to reach this customer again through custom audience targeting.
Recommendations for Financial Services
The Conversions objective is particularly useful for the Financial Services vertical. Out of the 17 Standard Events available to install within a Pixel (either by embedding in the code or by using Facebook’s Event Setup Tool for Web), we recommend adding the following to your toolkit:
||A submission of information by a customer in exchange for a service provided by your business. For example, signing up for an email subscription.
||A telephone, SMS, email, chat or other type of contact between a customer and your business.
||When a person finds one of your locations via web, with an intention to visit. For example, searching for a product and finding it at one of your local stores.
||A submission of information by a customer with the understanding that they may be contacted at a later date by your business. For example, submitting a form or signing up for a trial.
||The booking of an appointment to visit one of your locations.
||The submission of an application for a product, service or program you offer. For example, a credit card, educational program or job.
By parsing out specified events – separate from the default “PageViews” event – you can find out more information about your business. This could include discovering which areas of your website are getting a little more love than others or even which buttons might be getting more clicks.
The Conversions Objective is a powerful tool for financial services firms to optimize the delivery of Facebook campaigns to the best customers for your products and services. Yet, leveraging the Conversions Objective across a network of agents or advisors has historically been challenging and time-consuming. Tiger Pistol’s Conversions Objective capabilities allows brands and agencies to deploy conversion campaigns at scale with a single click. We make leveraging the Conversions Objective at scale has never been easier for financial services firms.
To learn more about how your financial services brand can find your best customers by scaling your conversions campaigns locally, contact us today.
Related Article: Navigating Facebook’s Special Ads Category for Financial Services
Analissa Moreno is the Data Operations Lead for Tiger Pistol’s Client Success team. She has an MA in the History of Photography. As the data guardian, she owns all aspects of reporting as it relates to client support and manages non-engineering data projects. She also uses her creativity to elevate the business by making small, but impactful changes on a daily basis. When she’s not face-first in data projects, Analissa’s baking moderately complicated recipes, watching Harry Potter reruns, and having fun with her dog, Rollei.