Facebook Launches Grant Program to Help Small Businesses

On Tuesday, May 17th, Facebook announced an upcoming grant program aimed to help SMB retailers during COVID-19. It will consist of $100 million in cash grants and ad credits for up to 30,000 eligible businesses. Facebook COO Sheryl Sandberg expanded on the importance of this initiative in her Facebook post:

Small businesses are the heartbeat of our communities, and many of the people who run these businesses are heavily affected by the crisis …We’ve listened to small businesses to understand how we can best help them. We’ve heard loud and clear that financial support could enable them to keep the lights on and pay people who can’t come to work.

The program is aimed to help businesses cover things like rent and operational costs, as well as connecting with more customers and keeping the workforce strong. For those interested in applying, stay tuned, as more details will be available in the upcoming weeks. You can also sign up for updates directly from Facebook here

In the meantime, Facebook has updated their Business Resource Hub with a page specific to managing and building resilience during this ordeal. It includes ideas for staying in touch with customers (like pinning your important updates) and other concrete steps for the unexpected challenges we’re facing. 

We love and support our SMBs. Tiger Pistol is here to answer any questions you may have.
Facebook Pixel Uses and Best Practices

The Facebook Pixel | Uses & Best Practices

According to Facebook, “The Facebook Pixel is an analytics tool that allows you to measure the effectiveness of your advertising by understanding the actions people take on your website.”

But what does that really mean?

The Facebook Pixel is a piece of code added to a website that tracks user data through cookies, allowing you to access useful analytics about customer website behavior. This data can then be used to inform strategy and find new potential audiences. Here are just a few concrete ways the Pixel helps advertisers: 

  1. You can now show social ads specifically to people who visited your website.
  2. You use your website visitors to build a Lookalike Audience to find and target new customers that have similar interests/behaviors/demographics as your current ones.
  3. You can utilize more more Facebook optimizations, such as Landing Page Views.

The Facebook Pixel is like a net that catches all user activity (referred to as events) and allows marketers to use these events to optimize and create more powerful ads. Facebook has seventeen standard events set up, such as  ‘Add to Wishlist,’ or ‘Complete Registration. ’ Custom events also allow users to add input their own categories.

This has clear and instant appeal for e-commerce, but the Pixel offers unique opportunities for all advertisers. The Pixel also gives retailers the chance to create custom audiences that can be useful in re-marketing efforts. Additionally, Pixel data can also be used at scale with the ability to share information across SMBs or rolled up into corporate systems. This way, brands can use location level data to help form more targeted audiences. 

The Pixel also offers the ability to create Lookalike Audiences from custom audiences. This creates a brand new audience which mirrors the preferences and values of the original. In “The Power of the Facebook Pixel,” Chris Mayer writes how Lookalike audiences are a great way to find new customers without relying on dwindling 3rd party data:

The lookalike process is anonymized: you won’t know exactly what traits the hash aggregates, but that’s okay. The resulting Lookalike Audience generated will include users with similar characteristics whom have not yet visited the website.

Clothing company Wren + Glory used value-based, international lookalike audiences on Facebook and Instagram to expand the company’s sales outside of the US.  They received 62% more orders compared to the previous period. 

In a world where data is crucial, the Pixel helps establish clear results. In fact, Gold’s Gym used data from their Facebook Pixel to learn that their recent Facebook ads produced a 2.2X lift in free trial sign-ups. Geoff Tobey, their Director of Digital Media mentioned that by “being able to jump into a Facebook testing opportunity, we learned that ads in Messenger Stories were more successful in driving an incremental lift in leads, and lowering cost per conversion, than we’ve seen on other channels.”

Whether you’re looking to test new optimizations, employ re-marketing strategies, or find new customers, social media advertising allows customization and proven results. The holidays may be a whirlwind, but the Pixel can help you stay on track along the way. 

Learn more about Facebook Advertising Best Practices from Tiger Pistol’s experts. Browse our resources now.