While a few social media newbies might be tempted to report effectiveness that is based upon the amount of impressions or clicks, measuring Facebook advertisements isn’t a process that is one-size fits all. Here are some crucial steps you should take to find out if your advertisements are working for you:
Determine your Facebook advertisement campaign goals
Companies create Facebook advertisements for various reasons. Some wish to boost social media engagement, whereas others have a desire to encourage app downloads or promote sales directly. No matter what the goal is, you have to keep it in mind as you start determining what metrics you’ll monitor for every campaign.
As you create your strategy for Facebook ads, consider what you’re attempting to accomplish with your ads. As you start creating your campaigns for Facebook ads, you’ll have to pick a goal. Which actions do you wish for your target audience to take? These unique goals won’t just assist you to develop compelling advertisement content, but they’ll also be critical in determining what metrics you utilize to measure success.
Select metrics which make sense
Now that the goals are defined clearly, you must select the metrics which permit you to measure what’s most important. Although there are several metrics you may measure to discover campaign effectiveness, utilize the below as your guide to begin based upon content objectives:
• Generating Leads –cost per lead, leads, CPC (cost-per-click), CTR (click-through rate), amount spent, frequency, CPM (cost per 1000 impressions), impressions
• Generating Sales –cost per checkout, checkouts, CPC, link clicks, CTR, amount spent, frequency, CPM, impressions
• Creating Content Awareness – cost-per-lead, leads, CPC, link clicks, CTR, amount spent, frequency, CPM, impressions
Observe these metrics and make a report
As you’ve selected the suitable metrics for your goals for Facebook ads, it’s time to begin to measure and monitor. You may utilize Facebook Ads Manager in order to observe numerous metrics or you may choose to use a 3rd-party tool which will create reports for you based upon the metrics you have outlined.
As you have created your first report, you may use that as your baseline for future reporting. Think about how your progress will compare to your expectations and how it may compare to the campaigns of your competition. As time passes and you gather more information, you’ll have the ability to gain critical insights which will assist you in becoming a success in future campaigns.
As it’ll come to the actual report, you’ll want to involve benchmarks and additional data which makes it clear what the numbers mean and how the campaign will contribute to your overall ad objectives. Graphs and additional visual data also is useful. It’ll help you justify ad spend.
Over time, modify your strategy for measurement
As you’ve developed a measurement strategy, you’ll have to periodically review this to make sure that it still is effective.
For more information on how to make Facebook ads work for you contact Soaring Away at (910) 471-5030.