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What are the different Campaign Objectives for Facebook & Why this is important?

For any advertising campaign to start it is very important to have business goal so as to choose the right objective. Basically, it comes in to three stages: Awareness, Consideration and Conversion.

Based on the campaign goals we can either make the above three stages in one campaign or individually with span of time. It entirely depends on the objective of the campaign. 
In short if business goal is set we can choose the objectives as per requirement as mentioned below:

Awareness

Objective Your business goal is to:
Brand Awareness Increase people's awareness of your business, brand or service.
Reach Show your ad to as many people as possible in your target audience.

 

Consideration

Objective Your business goal is to:
Traffic Drive people from Facebook to any URL you choose, such as your website's landing page, a blog post, app etc.
Engagement Reach people more likely to engage with your post. Engagement includes likes, comments and shares but can also include offers claimed from your Page.
App Installs Send people to the shop where they can download your business's app.
Video Views Share videos of your business with people on Facebook most likely to watch it.
Lead Generation Collect leads for your business. Create ads that collect info from people interested in your product, such as sign-ups for newsletters.
Messages Connect with people on Facebook, communicate with potential or existing customers to encourage interest in your business.

 

Conversion

Objective Your business goal is to:
Conversions Encourage people to take a specific action on your business's site, such as having them to add items to a cart, download your app, register for your site, or make a purchase.
Catalogue Sales Show products from your e-commerce store's catalogue to generate sales.
Store Traffic Promote your brick-and-mortar business locations to people that are nearby.