Tracking results – Facebook ad metrics
When it comes to metrics that evaluate results, some are far more important than others. The likes, shares, and clicks that your Facebook ad generates, the conversions that occur from that ad, leads generated from that ad: are all important to evaluate the overall success of your advertising campaign.
Here are 5 important metrics that you need to know in order to determine if your ad campaigns are helping your business grow or if you are just throwing your money out the window.
This is defined as the number of times your ad is shown. The more impressions you have, the more brand awareness you can create. If your main goal is to get attention for your new product or for you as a brand, impression metrics is an important one for you.
You should look at the cost per thousand impressions (CPM) of your ads.
Here is how you calculate CPM:
Cost per thousand impressions (CPM) = ad cost x 1,000 / # of impressions
With limited ad budgets, CPM metrics can help you decide where to spend your money in order to maximize your ad impressions and reach more people.
This is the number of times your ad is clicked on. Clicks are a way to measure customer engagement and level of interest. You can go further to compare the clicks in Google Analytics and see which sites the users visited, if they purchased, or entered your sales funnel.
This called click through rate (CTR).
Here is how you measure CTR:
Click through rate (CTR) = # of clicks / # of impressions
There is another important metrics with clicks, the cost per click (CPC) of your ads. If you have a lower budget, you want to spend more on ads with lowers CPC.
Here is how you measure CPC:
Cost per click (CPC) = ad cost / # of clicks
If you run video ad campaigns, another metric that can be interesting for you is video views. But the problem is that Facebook counts 3 seconds or more as a view, which is sometimes not enough to create any kind of brand awareness, let alone clicks and purchases.
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Checking these metrics regularly will give you an idea of how well your campaigns are doing.
Determining the proper metrics to evaluate your campaign allows you to optimize your Facebook ads strategy.
Because always remember that at the end of the day, you’re marketing to sell.