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Why do we need standard events or custom conversions?
Simple. Standard events and custom conversions allow us to track the conversion actions from our Facebook or Instagram campaign.
By tracking results, we’ll be able to calculate our return on investment (ROI), improve ad performance and make better marketing decisions.
What this means is that we’ll be able to get more results for the same marketing budget over time!
Standard events have the following goals:
- Add payment info
- Add to cart
- Add to wish list
- Complete registration
- Customize product
- Find location
- Initiate checkout
- Start trial
- Submit application
- View content
Standard event example
By tracking ‘add to cart’, an e-commerce business will be able to identify the customers that dropped out even though they added a product to their online cart.
This allows the business to run a retargeting ad to this specific group of customers.
Note: To track standard events, you’ll have to first install the Facebook pixel.
Custom conversions can be created based on events or URLs. These are easier to implement as to standard events. However, custom conversions have lesser flexibility in terms of tracking.
Custom conversions can be limited with regards to the extent of our tracking. For instance, in standard events we tie a standard event to a button click. However, custom conversions are mainly URL based, hence, the limitations.
Standard events vs custom conversions, what’s the difference?
|Standard events||Custom conversions|
|Implementation||Via Facebook Pixel Code or the event setup tool.||No extra code is required. |
Created via Events Manager using URL rules.
|Customization||Customised with Parameters.||Customised with Granular URL Rules.|
|Reporting||Aggregated Reporting.||Separate Reporting.|
|Dynamic Ads||Compatible with Facebook’s Dynamic Product Ads.||Not compatible with Facebook’s Dynamic Product Ads.|
Standard events are more versatile in terms of tracking as compared to custom conversions. In terms of setup, custom conversions can be set up quickly and easily as compared to standard events.
While both can be used to collect data, standard events can be used to optimize campaigns, build audiences and track conversion actions on your website.