I will setup facebook conversion API pixel, server side tracking with GTM

Facebook Pixel is a piece of code that you place on your website to collect data that helps you track conversions from Facebook ads, optimize ads based on collected data, build targeted audiences for future ads, and remarket to people who have already taken some kind of action on your website.

To set up a Facebook Pixel, go to your Facebook Events Manager, create a Pixel, and then add the Pixel code to the header of your website. Facebook provides step-by-step instructions on how to do this, including how to check if your Pixel is working correctly.

The Facebook Conversion API allows advertisers to send web and offline events directly from their servers to Facebook's servers. This helps in measuring, optimizing, and building audiences for advertising campaigns, maintaining privacy and accuracy in a cookie-restricted internet environment.

Using both tools allows for more comprehensive data collection. While the Pixel captures browser-based interactions, the Conversion API can track additional data points or events that occur on the server side, such as purchases completed through a call center.

Yes, you can use the Conversion API independently of the Facebook Pixel. However, using both in tandem is recommended for the most comprehensive tracking and optimization capabilities.

Using Facebook Pixel and Conversion API can significantly enhance your ad performance. Accurate tracking enables better targeted and retargeted campaigns, optimized ad spend, improved conversion rates, and ultimately, a higher return on investment (ROI).

Configuring the Conversion API involves generating an access token in Facebook Event Manager, setting up event data parameters, and coding these events into your server’s backend. Detailed developer documentation is available on Facebook for Developers to guide you through the setup process.