Increase in applications since implementation of conversion pixel custom audience
Decrease in cost per acquisition since implementation of conversion pixel custom audience
Increase in conversions since implementation of conversion pixel custom audience, with cost of conversions decreasing 32%
The client had a considerable presence in pay-per-click advertising, and had entered into Facebook marketing in order to expand the reach of the product.
Initially, the campaign used interest targeting and “lookalike” audiences created off of email lists of recent converters. This strategy led to a baseline number of weekly conversions and cost-per-action (CPA) over a period of five months, which provided the client with additional conversion volume at reasonable CPA.
With the addition of the tactics described below, the client’s paid social campaign saw vast improvement in overall number of applications, conversion, and CPA.
The Facebook conversion pixel is placed on the “Confirmation” or “Thank You” page of the client’s website, creating a pool of converted users that can be used as a model for a “lookalike” audience of Facebook users that are likely to convert.
Another successful tactic used in conjunction with the Facebook conversion pixel audience was implementing a day parting strategy to the campaign. Instead of continuously funding the pre-existing campaign in the morning time period, a test was designed to reach users during the evening hours, consistent with what was known about the audience profile of the customer base for the product.
Day parting is used in paid social campaigns to ensure that budgets are allocated across different time periods throughout the day. This is done in order to reach specific users that are within the client’s target audience.
Facebook Conversion Pixel
|Number of Applications||CPA||Conversions||CPA|
Evening Day Parting
In the first month of the test, the late evening day parting segment drove 36% of all applications, and did so with a 31% lower CPA as compared to the morning strategy. In the second month, the evening test drove 58% of applications, with a 27% lower CPA. This strategy successfully exploited a previously untapped user base, which drove additional volume in addition to previous efforts, and did so in a more efficient manner.
|Number of Applications||CPA|