What Does It Do?
Previously, there were two different pixels:
Conversion - allowed you to measure cross-device conversions such as purchases.
Custom Audience - allowed you to create audiences and remarket to them.
Basically what it does is that it allows you to measure, optimise and build audiences for your Facebook campaigns to effectively advertise to your potential clients.
Now, the new “ Facebook Pixel” does both!
Meaning that from September 15th - you will no longer be able to create a new conversion tracking pixel. October 15th - Signals team (Basically, the Facebook pixel team) - will no longer support conversion pixel and in February 2017 the conversion pixel will be gone forever.
What does this mean for someone who has been advertising on Facebook for a while now? You will have to change this pixel.
You’re someone who wants to start advertising on Facebook? Save yourself the hassle and just generate the Facebook pixel. Don’t even go near the conversion pixel!
How to Use It Now?
Simply just add it to your website or ask your developers to do it for you. Both the base code as well as the event code.
The base code will track the activity across your website and it should be added to every page of the website (between the head tags) to better monitor your user’s activity and actions.
As for the event code, it will allow you to track specific actions taking place on certain pages. For example, “Add to cart”, “Checkout”, “Complete Registration” and much more. These are the pre-defined events that Facebook has done for you and are recommended to be used whenever you can.
Note, these events should be only added to the pages where these actions are most likely to occur and make sense to have them. For example, don’t put an “Add to cart” event on your blog page.