Both brick and mortar and online retailers are beginning their gear up for the holidays. You probably imagine a cartoon toy store manager nervously pulling at his collar with a group of adults shoving and holding money in the air. Not quite. Though, surely that frenzy still exists out in the retailer ethos — Tickle Me Elmo, last year’s Hatchimals, and Turbo Man from the seminal classic Jingle All the Way being obvious examples — a large percentage of consumers order products online. You can get your holiday shopping done in a few hours, while your other half bakes cookies and brings you hot chocolate cough *wine* cough.
So, where is this blog going? Where everything else goes… Facebook.
How Facebook Pixel Can Help You This Holiday Season
Expanded Event Codes
When the pixel debuted about a year ago, it was pretty exciting. Advertisers could track how many people actually made it to a landing page after clicking on the ad or link. It seemed like enough until retailers wanted more information. Now you can get a specific event code to add to the standard pixel code for nine different events such as “add to cart” and “complete registration.” Below is a guide to finding and deciding which event code you want.
In the past month, Facebook has already changed where you find the code in the process of setting up the ad.
Where to Find Them
Choose Objective: Conversion. The next page looks like the this:
A drop-down menu with the event choices. If a pixel is already installed for an event and is being used, it will have a green dot by it; all others have a red dot.
What Each Event Means
View Content: When a key page is viewed (i.e. product landing page)
Search: When a product search query is made
Add To Cart: When a product is added to the shopping cart (i.e. “add to cart” button is clicked)
Add To Wishlist: When a product is added to a wishlist (i.e. “add to wishlist” button is clicked)
Initiate Checkout: When a person begins the checkout process (i.e. clicked “checkout” button)
Add Payment Info: When payment info is added in checkout flow
Purchase: When a purchase is made or checkout flow is completed (i.e. thank you/confirmation page)
Lead: When a sign up is completed
Complete Registration: When a registration form is completed
How the Events Work With Actual Products
The above company is focusing their results on what is added to the customer’s cart and what makes it through purchase. This way, the company can understand the buying habits. Say this is a clothing retailer geared towards the outdoors and multiple people added a sweater on sale for $20.95 and a bag for full price at $79.99. Instead of saving an item for later, people will simply leave stuff in their shopping carts. Once the purchase of the sweater has gone through, the actions can be examined and the findings might be that people were putting the same bag and other full price items in their carts along with sale items. The deduction can be made that the full priced items are just a little too expensive to order at the time but they want to return later when the price is lower.
So many consumers leave expensive items in their carts now that most retailers will send you update emails with subjects such as “An Item in Your Shopping Cart has Dropped in Price” or “Don’t Leave Me in Your Cart!” You might even get one surveying you about why you didn’t purchase it with the other items.
How Pixel Tracking Can Help You During the Holidays
You will be able to estimate the following:
- holiday pricing
- sales, offer bundles
- how much stock you need
- what kind of ROI/profits you will see
- where you’ll be at for the new year
You also won’t have to rely on outdated information on the ads you are running. You get real-time updates in your Pixel dashboard, so if you see something that’s not working it can quickly be changed. Beware though, Facebook has already changed how to setup the Pixel a few times in the last month or so. This guide might be outdated soon but I will try to keep it as updated as possible.
If you have no idea what Facebook can do for your business in the next four months, we have just the experts to help you (such as the brilliant woman who wrote this blog!) We also have a fabulous Web Development team that will get your codes up and firing.