OCTOBOARD INTRO The answer to all of your questions lies within one word - Data. You need loads and loads of data to be able to spot trends and get to insights on Facebook Advertising and see what works precisely for you. But raw Analytics can only do this much. Put your metrics around these practical questions and make sense out of your Facebook Ads Analytics!
QUESTION 1 Can I track my Facebook Ads Performance in real time? IMPRESSIONS, CLICKS and CTR are metrics you should keep track of on a daily basis. These metrics indicate whether your Facebook Ads reach your desired outcomes. IMPRESSIONS - Number of times your Ads have been displayed to your audience CLICKS- Number of times Facebook users clicked on your Facebook Ads CLICK-THROUGH-RATE- Ratio of Ad Clicks relative to Impressions CTR = TOTAL AD CLICKS / IMPRESSIONS
QUESTION 2 How often are my Ads displayed, to how many people and how frequently? Use REACH to evaluate and fine-tune definitions of your Ad campaigns. It could be useful to correlate REACH and IMPRESSIONS with user actions. If your REACH grows but the amount of user actions declines, it can indicate a low content relevance. IMPRESSIONS - Number of times your Ads have been displayed to your audience Note: if one person sees your ad twice (on your and some other feed), it counts as two impressions REACH- Ad reach tacked over time Note: if one person sees your ad twice, it counts as one reach FREQUENCY - Average number of times your ads are shown (per visitor)
QUESTION 3 Do people react to my Facebook Ads? High ENGAGEMENT is a sign of smart and relevant advertising. Define what actions you want to target - likes, conversions, app installs, event responses - and check whether your ads resonate with your audience. ACTIONS- Actions (likes, conversions, app installs, event responses) over time ACTIONS RATE- Rate of Actions relative to total number of Ad Impressions AR = TOTAL ACTIONS / FACEBOOK AD IMPRESSIONS CTR- Ratio of Ad clicks relative to Impressions
QUESTION 4 How much am I paying for Facebook Ads? Is it worth it? Understanding if you are getting return on your Facebook Ad investment is crucial. Correlate your COST PER CLICK with dollar value of one Ad Click. Ad CLick dollar value can be calculated from CONVERSION RATE (a Google Analytics metric) and Revenue that comes from conversions. COST - Ad cost tracked over time COST PER MILLE - Cost per 1000 Impressions over time (CPM) COST PER CLICK - Cost per Click tracked over time (CPC) CPC = FACEBOOK ADS SPEND / AD CLICKS COST PER ACTION - Cost per Facebook Action tracked over time (CPA) CPA = FACEBOOK ADS SPEND / FACEBOOK ACTION
QUESTION 4 How much am I paying for Facebook Ads? Is it worth it? Octoboard allows you to combine Google Analytics widgets with your Facebook Ads Analytics to get more insights on the ROI for your Facebook Ads. ADS BY RELEVANCE - Ads ranked by Relevance Score (RS) Relevance Score: A number from 1 (low) to 10 (high) provided by Facebook that suggests how well the ad is expected to resonate with your audience ADS BY CLICK-THROUGH- Ads ranked by CTR ADS BY ACTION RATE - Ads ranked by Action Rate
OCTOBOARD CONCLUSION Start from these simple questions first. Ask them daily (or any time with octoboard.com). Once you get comfortable, you can always ask for more and get more value from your data. Remember, this is your data. Get smarter now by using data you already own. These selected metrics have been prepared for you by OCTOBOARD. Go ahead, it will take seconds to set up. It is FREE.
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