Facebook Pixel setup

The Facebook pixel is a tool which is added to your website, in order to track conversions or certain actions that your customers take, such as Add to Cart. The Facebook Pixel is generally installed in your 'Thank you page'.

If the user of the website is an external website, measuring conversions such as adding a product to a cart or clicking a button to buy a product is impossible unless you install the pixel.

Before, Facebook had two different ad pixels: the Custom Audience pixel and the Conversion Tracking pixel. The Facebook pixel simplifies things for advertisers by combining the two existing pixels and allows you to place one single pixel across your entire website to report and optimise for conversions, build audiences and get rich insights about how people use your website. You can pass structured data as parameters for enhanced audience building, optimisation and measurement.

This article from Facebook Developers explains how to create the pixel, read the pixel code, install the pixel, etc.