Average Facebook Ads Conversion Rate Of 2024 And 5 Tips To Improve Yours

Facebook Ads Conversion Rate is a critical metric to measure the ad performance and reflect how good are your ads compared to others in the same industry. In today’s article, we’ll discuss this ad metric, have a look at the average Facebook ads conversion rate in 2024, and learn how to improve your conversion rate for Facebook ads.

What is Facebook ads conversion rate?

Facebook ads conversion rate (abbreviation: CVR or CR) is the percentage of desired actions completed after Facebook users click on your Facebook ad. These actions could be: making a purchase, signing up a webinar, filling out a form, etc.

Formula to calculate Facebook ads conversion rate

To calculate your own conversion rate, use the formula below:

CVR = (Number of conversions / Number of clicks on a Facebook ad) x 100%

For example: Your Facebook ad has 50 ad clicks and 4 sales, so the conversion rate is (4/50) * 100% = 8%.

What is the average conversion rate for Facebook ads in 2024?

According to Wordstream’s data, the current average Facebook ad conversion rate for all industries is 9.21%. 

However, Facebook ads average conversion rate can vary a lot by industry. For example, the Fitness industry boasts the highest average conversion rate Facebook ads at 14.29%. Meanwhile, Industrial Services has the lowest Facebook advertising conversion rate average at 0.71%.

Here’s the detailed benchmarks of Facebook advertising conversion rate for each industry:

Note: While advertisers can choose different objectives for Facebook ad campaigns, only ad campaigns with conversion objective were counted to calculate this average conversion rate on Facebook ads in 2024. 

What can you infer from your Facebook conversion rate?

Facebook ad conversion rate is one of the key metrics to evaluate ad performance, alongside CPA (cost per action), CPC (cost per click), CPM (cost per mille, or impression), CTR (click-through rate), etc.

>> Read more: Average CTR For Facebook Ads: Everything You Need To Know About This Ad Metric

By analyzing these ad metrics, you can know how well your ad is performing, is it compelling enough for audiences to take actions.

A high conversion rate may indicate convincing ad content and vice versa.

Of course, there are also other factors that can affect your Facebook ad conversion rate, like your ad settings and landing page.

How to improve your Facebook ads conversion rate?

If you find your Facebook conversion rate too low, you can improve it by optimizing your ads. Below are some suggestions to do it.

Optimize your ad content

Content is king in marketing, so if your conversion rate is low, maybe your content is not compelling enough.

Here are some tips to improve your ad content:

• Your copy should emphasize the benefits, not the specs
• Use a headline that piques curiosity and encourages further exploration.
• Use a consistent brand voice and tone
• Use relevant keywords to optimize search and relevance
• Avoid words that are banned on Facebook. 
• Use a CTA that creates a sense of urgency, encouraging immediate action (like ‘Limited time offer’,  ‘Only for today’).
• Ensure your images or videos are highly related to your products
• Use suitable visuals for your target audience
• Followed the 20 percent text rule
• Use the recommended size for Facebook ads (1200 x 628 pixels)
• Integrated your ad visual with your website or landing page where your ad redirect audience to

Optimize your ad objective for conversions

Also, you need to pay attention to your ad objective. If your goal is to increase conversion rate, you should choose one of the following objectives:

• Engagement
• Leads
• Sales

Note: In the past, advertisers can directly choose conversions as an ad objective. However, Meta has simplified the original 11 ad objectives into 6 and omitted ‘conversions’ option.

Optimize your landing destination page 

If your click-through rate is high, but your conversion rate for Facebook ads is still low, probably the issue lies on your website or landing page.

Check if your website’s loading speed is fast enough, as most people will leave a page if it takes more than 3 seconds to load. Also, remember to optimize your page for mobile devices, and provide customers with every information they need before making a purchase.

Finetune your target audience

Make sure that you have chosen the right audience for your products. You can combine different Facebook ad targeting methods to optimize your audience. 

>> Read more: Facebook Ad Targeting Methods: Core Techniques For You To Learn

Optimize your ad placements

You should experiment with different placements to decide which are effective or not. Then, exclude underperforming ad placements to improve your conversions. Some placements that often have low conversion rates are in-stream videos, instant articles and apps.

Conclusion

Facebook ads conversion rate is one of the key Facebook ad metrics to measure the success of your campaign. By comparing with the average conversion rate for Facebook ads of your industry, you can determine if your ad performance is performing well enough and take further actions, such as optimize, scale or pause ads.

Working with a Facebook agency can help you increase the likelihood of conversions by improving click-through rates and maximizing your audience reach. For more details, please refer to our Service Policy.