If you’re currently managing Facebook ads or thinking about doing it, one of the primary goals of your campaigns should be a good conversion rate. This is true regardless of what your end goal is, whether it is to get more video views or obtain more purchases through your website.
In other words, your conversion rate is a key metric for most, if not all, of your Facebook ad campaigns. It’s especially important if your end goal is to obtain more subscriptions, leads, downloads, or sales.
Our focus today is going to be on how conversion rates of Facebook ads work and some tips and tricks to improve them. Stay with us.
What is a conversion rate?
Before we get into the topic of Facebook ads conversion rate, let’s first clarify what exactly a conversion rate is.
A conversion rate is the main metric that marketers use to measure the success of an advertisement. It tells you the exact percentage of visitors that converted from your ad. The term conversion varies depending on what your goals as a business are. It can be a visitor completing a survey, booking a phone call, downloading a trial, or making a sale.
So, the formula for getting your conversion rate is quite simple:
Conversion Rate (%) = (Number of conversions / Number of visitors) x 100
So, for example, let’s say your Facebook ad gets 200 clicks, that’s 200 visitors to your website. And only 20 of those people ended up making a purchase upon visiting your website. This would make your conversion rate 10%.
And for this reason alone, conversion rates are important. Usually, the better your conversion rate is, the better the profit.
What is a good Facebook ads conversion rate?
As a metric, the conversion rate is dependent on a lot of different factors. For starters, on Facebook, conversion rate statistics can vary depending on your campaign goals and what industry your business is in.
According to WordStream, the average conversion rate for Facebook ads across all industries is 9.21%. So, it’s fair to say that a good conversion rate for your Facebook Ads should be something in the 10% area.
However, according to our initial point, conversion rates can vary depending on industries. For instance, according to the same report, the clothing industry gets a 4.11% conversion rate on average. Something like the fitness industry, on the other hand, can average up to 14.29%.
How to create a conversion-focused ad on Facebook
Creating a Facebook ad that is focused on gaining more conversions is an easy and straightforward process. It goes as follows:
Step 1: Pick the conversions objective, obviously!
When you’re just starting to create your ad using the Facebook Ads Manager, you will be asked to select an objective. Go ahead and pick Conversions. After that, name your campaign, and move to the next step.
Step 2: Choose your events
After you pick your campaign objective, you will be prompted to choose your ad category as well as your budget options. After that, you’ll have to pick your Conversion Event Location. It can be your website, mobile app, Messenger, or WhatsApp.
Here, you’ll have to choose the events that you want to track. It can be anything from signing up to making a purchase. And in order to properly record these events, you’ll have to set up your Meta Pixel.
Step 3: Use the dynamic creative feature
After you select your conversion event location, you’ll find a window titled Dynamic Creative. We highly recommend that you enable this since it will try to mix and match your images and copy to find the most effective combinations that drive conversions.
Step 4: Complete your ad
Once you go through these steps, you can proceed with creating your ad. Set your budget and bids and get your creatives up and running.
Of course, you’d want to make sure that you’re sending people to the proper landing page. No one likes to be sent to a homepage after clicking an ad about your products, no one. Each different Facebook ad of yours should have its own respective landing page.
Step 5: Tracking your conversions
Facebook’s native tools can give you most of the information that you need to know about each campaign, including your conversions. Not only that, but Facebook also provides its users with how much they paid on average for each conversion.
In other words, marketers on the platform can determine both their conversion rate and their ROI (return on investment). These two metrics can help you have a near-complete idea of how well your campaign is doing.
Anyway, to access your metrics, simply head to the Facebook Ads Manager. There, you can customise your reporting dashboard by adding additional columns of relevant information.
Our focus, in this case, would be on Conversions and Standard Events. Facebook allows you to access the total number of conversions as well as unique conversions. It also allows you to access your conversion value and cost.
Here are some converting ads examples:
Tips & tricks for improving Facebook ads conversion rate
Everyone wants a higher conversion rate on their Facebook ads. It’s a metric that translates to effectiveness and better results. And if you want to improve on it, here are some tips and tricks that you can follow:
Tip 1: Relevance is key
When it comes to Facebook ads and any other format of digital ads, relevance is extremely important. It’s basically one of those hidden metrics that can affect how much you pay for each conversion (CPA) as well as how many conversions you end up getting.
At a time, relevance was simply referred to as the Relevance Score in the Facebook circle. However, that metric soon met its demise but is still relevant (no pun intended!) to this very day.
A prime example of keeping your relevancy high is targeting new audiences with ads that introduce them to your brand. On the other hand, people who are already familiar with your brand shouldn’t be introduced to it once again. Instead, you would offer them updates on your business as well as discounts if you wish so.
Additionally, your business could be targeting other small businesses. In this case, your ads would focus on affordability and time-saving since most growing small businesses are short on either time or money.
Tip 2: Highlight value in ad copy
If you want people to click on your ads and then convert, you need to tell them exactly what to do and what to expect. Of course, you want John and Emily to sign up for your email list, but what will they get out of it? They and the rest of your audience don’t owe you anything.
In other words, you need to focus on the benefits more than the features when writing your ad copy. Here are a few examples of what that would look like:
- “Subscribe to our email newsletter to get exclusive access to the latest industry news not found anywhere else.
- “From no listing fees to less competition – Learn the 10 reasons why merchants prefer Shopify to Etsy”
- “See imbalances that your personal trainer can’t. Track muscle effort, muscle fatigue, heart rate, and respiration all in real-time”
Tip 3: Have good CTAs
In the examples provided above, you can tell what action these marketers are trying to get users to take. Subscribe to an email list, sell products on the website, and download a mobile app.
Facebook has a clear-cut list of CTA buttons that you could attach to your ad. These include Apply Now, Book Now, Download, Get Offer, and more. Most of these options are pretty straightforward and almost impossible to be missed by the average viewer.
So, your sole job now is to attach the right CTA button and ad to the right landing page and “converting” action.
Tip 4: Fine-tune your landing pages
A landing page is one of the foundations upon which your Facebook conversion campaign is built. With a beautiful ad, you can get as many clicks as possible, but they will be all for nothing if your landing pages aren’t done properly.
Here are some tried and true best practices when it comes to landing pages:
- Rely on a persuasive headline at the top of the landing page
- Use an image or a video or any other creative. This should preferably be located somewhere in the centre of the page
- Insert any social proof you might have (testimonials, “as seen on”, reviews, etc.) under the creative
- Keep the number of forms to a minimum but don’t completely eliminate them
- Create customised headlines for each audience group
- Experiment with adding or removing social proof components
Tip 5: Monitor and tweak your campaigns
In case you haven’t noticed already, advertising on Facebook isn’t necessarily hard. But it’s not that easy either.
It takes a lot of hard work to get where you want. There are a lot of steps that come together to help transform complete strangers on the Internet into customers.
The first step that you should take in the monitoring journey is to add the Ads Manager to your homepage. We know this sounds like a silly, yet straightforward step, but a lot of people overlook it.
Next up, constantly check your Ads Manager reports. They’ll show you a summary of what’s going on with all of your campaigns. This includes things like click-through rates, engagement, daily spending, and more.
This corner of the Ads Manager is especially great if you have multiple campaigns running at once and you want to see how they compare. This can help you to concentrate on better performing campaigns and perhaps ditch bad performing ones or just improve on them.
And of course, lastly, you want to check the appropriate stats for your campaign. And in that case, this is conversions. However, you shouldn’t stop there. Instead, try to see the correlation between the conversions and what you’re doing with your ad. In other words, try to test different ad variations to see which works best.
Ready to scale up your Facebook efforts?
If you need help increasing your Facebook Ads conversion rate, simply schedule a discovery call with us. One of our paid advertising experts will be in touch shortly.