TOP FACEBOOK METRIC EVERY MARKETER MUST KNOW
FACEBOOK METRIC EVERY MARKETER MUST KNOW
It’s extremely difficult to pick and choose from the number of metrics that Facebook offers. So you basically need to limit your focus on tracking particular metrics if you want to increase your profits.
Here are four most important Facebook advertising metrics that you should start tracking.
1) Real Conversions
“Are your ads influencing individuals to complete the intended action for your brand?” The answer to this question is imperative and so conversions in terms of your Facebook ad metrics need proper attention.
While tracking conversions, one becomes acquainted with the advantages of the content for the target audience. Since this is the only metric that can be directly tied back to the return of investments, this should be considered as one of the top metrics when you present your marketing report.
What you should be particular about is, which conversion style metric to choose. The ones supporting your true objective results should be your focus. Ensure that you go for a metric that is relevant to your campaign and one that demonstrates an immediate effect on revenue or closing a deal.
2) Cost per result (CPR)
Another metric that is ideal to accompany conversions is Cost per Result or CPR. A balanced marketing report that shows more than just sales is much needed for any business. CPR causes you to see the amount you spend on every conversion.
This metric is calculated in a similar way as AdWords determine the cost per conversion, which is the total amount spent divided by the number of results. CPR exclusively lets you know whether your expenditure on acquisition is too much or not. CPR on conversions should be possibly the lowest.
3) Frequency
Frequency is the average number of times your ad has been viewed by each person. No one enjoys watching the same ad over and over again. This creates a negative impact on the viewer who may hide or report your ad because of sheer annoyance. This increases your chances of getting beaten over quality and audience targeting besides driving your costs higher. Thus, increased frequency results in lower relevance scores and higher costs. As frequency increases, the click-through rate decreases and cost per click increases, which is definitely not good.
Frequency is a key metric to track with regards to making sure that you don’t waste your campaign budget unnecessarily.
As for the solution, advertisers can limit their ad frequency to specific views per person. Facebook principles to streamline and automate this process can also be used if one prefers not to spend each day only for checking the metrics and ensuring that the frequency number remains low.
For beginners, go to your Facebook ads manager and create a rule to apply for a number as the greater than value. This ensures that your end action will kick in automatically when the frequency surpasses the specified number.
4) Click-through rate
The click-through rate is taking the total number of clicks on your ad by the viewers and dividing it by the total imprints. For example, for 50 clicks and 1,000 impressions, the CTR would be 5%.
High CTR obviously implies that your audience targeting is on point and that your creative and ad copy are influential enough to interest people and drive clicks. When your ad CTR is low, you need to review it immediately.
To deal with this metric in a better way, you can create a new rule for the manager that increases your everyday budget by a particular percent when you hit a certain CTR. This is similar to setting everyday goals.
To advertise your brand on Facebook, contact Digital Mojo. It is one of the leading digital marketing companies that is based out of Hyderabad. The company has a wide service spectrum including SEO, social media, PPC, display advertising, email & content marketing. Thus, plan your next Facebook campaign with Digital Mojo.
-Anushree Srivastava
