After or during an ad campaign, have you ever tried to figure out if it was even worth the resources you spent on it? Or did it bring you the desired results? Knowing how to analyze and interpret the metrics provided to you by the Facebook Ads reporting is as important as knowing how to set up a campaign.
You need to develop a clear understanding of which metrics are to be considered and which ones are to be ignored, otherwise you might just end up wasting your time and other resources on something which doesn’t even get you your desired results.
Looking at the Facebook metric page might seem like getting into something that is way too complicated. But do not worry.
Keep reading to get an understanding of which metrics to consider, which tools to use and what templates might get you more engagement.
1. RESULTS AND RESULT RATES
The results let you know the number of times the visitors or the users have acted a certain way your ad campaigns directed them to. These actions can be watching a video you want them to, clicking on your website, filling a survey for you, or maybe making a purchase. The results rate actually signifies the conversion rate, which tells you how many times the people who see your add act according to the way you want them to. It shows you which of your campaigns are good at driving your desired results, or which was the campaign that stimulated a particular action like “add to your cart”.
2. COST PER ACTION (CPA)
While analyzing your ad campaigns you must seriously consider the cost per action. This might also be found under the head “cost per click (CPC)”. The CPA denotes the amount you spend for each action that you are bidding on. It is important to check this to ensure that you are in a profitable position or not. You may also need to fix caps on the amount you are going to spend. Watch the numbers and study them minutely before you take a decision. Sometimes a bit expensive ad campaign which has a bit costlier click can fetch you higher quality of audience members than an economical click.
The reach lets you know about how many distinct individuals your brand has reached with an ad campaign within a fixed time frame. This is an amazing tool as you easily get to know how many people actually saw your ad. If you have a ‘reach’ of 5000, it denotes that 5000 people came across your ad while 5000 ‘impressions’, it means that your ad was seen 5000 times by the users which may be in any number. You need to make sure that your reach is as wide as possible to get your desired results out of your ad campaigns.
or the click through rate tells how many people clicked on the ad. It shows actual and clear interest by the user. They clicked because they really wanted to know what came after the ad, this shows their intent. It is an effective trouble shooting metric. There may be times when people would simply click on your ads but not convert into a customer and this might mean one of the following:
• The Facebook landing page needs to be even more stronger
• You are not targeting the right market segment, either the offer is too expensive for them or there is some other reason
• The ad is not expressive enough and the audience is not really getting what the offer is through the ad.
CTR is quite useful to analyze the overall health of your campaigns.
As you must be aware that frequency refers to the number of times of occurrence of an event. Likewise, Frequency metric shows you the number of times a single user sees the exact same ad within a fixed time span. Knowing this is quite essential because its far better that 10 different individuals see your ad in a fixed period of time rather than a single user sees that ad 10 times in that period. It is always suggested to set your frequency 3 or maybe less. A little repetition is fine, but too much of it is not going to get you your desired results.
6. QUALITY RANKING
Through its Quality ranking metric, Facebook lets you know how relevant and attractive your ad is to your target market segment according to their algorithm. Ads which have more engagement, high CTR and greater conversion rates have higher quality ranking. Your quality ranking will definitely affect your ad costs. It is okay to keep the campaigns with decent scores going if they bring you the desired results.
Also Read: Run Fantabulous Ad Campaigns Using Social Media Channels
Tell us about your current Facebook ad campaigns. What metrics do you value the most?