In this multiple-part series, we’re highlighting how you can become a savvier Meta marketer by minimizing cost and maximizing results.
As announced at the 2024 Meta Marketing Summit, Meta is introducing a new release to help advertisers shore up their tracking and conversion data. It’s called Conversion Leads, and while it’s potentially useful for a lot of advertisers, it comes with one caveat that might curtail adoption in the short term.
The Great Things About Conversion Leads
First, the benefits: Conversion Leads allow advertisers to feed back CRM conversions that happen within 28 days of the initial event. This broadens the attribution window, which will be helpful for a variety of businesses.
Let’s say you’re selling, for example, a B2B software subscription. Someone fills out your lead form, and your salesperson has a backlog and schedules a follow-up call for the following week. That call—even if it ends in a closed deal—is beyond the seven-day window, so the conversion will only be captured if you have Conversion Leads data integrated.
Give the Facebook bidding/targeting algorithm data from enough of those instances, and you’ll eventually be able to optimize not just for lead events, but for the upper-funnel lead events that have a better chance to convert in another step lower in the funnel—maybe a sales demo, a subscription, or an actual purchase. Essentially, this feature lets you optimize two conversion events at once.
Hold On a Minute, Though…
So…now for the caveat: to use this feature, advertisers need to use Meta’s Instant Forms. For many advertisers, the only viable path to conversion is using their own on-website flows that Instant Forms can’t smoothly translate.
For instance, if your form needs to be conditional based on a user’s geo (think of solar panel estimates, for example), Instant Forms aren’t a great option. Meta says Instant Forms can be made to work with third-party integrations like Zapier, but until they prove worth the extra resources, some advertisers will skip over Conversion Leads for the time being.
That said, if you’re already set up on Instant Forms, Conversion Leads are well worth the test and could be a really nice value-add to your campaigns.
Learn. Do. Grow.
Check out our previous posts in this series:
- Part 1: Consolidate Your Audiences
- Part 2: Use Advantage+ Shopping for Lead Generation
- Part 3: Consolidate Campaigns
- Part 4: Feed the Algorithm
- Part 5: Target Like an SMB
- Part 6: Use Creative Optimizations
- Part 7: Expand Your Product Feed
Need help with your Meta campaigns? Get in touch with Playbook Media’s experts.
