7 Effective Ways to Analyze Facebook Ad Performance

19 Dec, 2019Business

 

Have you ever come across ads while scrolling down your Facebook feeds?

Well, the question should be who hasn’t?

With more than 1 billion active users on a daily basis on the social media channel, brands find it to be a lucrative platform to reach out to their target audience effectively. And if you wish to reach your target audience too, then it is time you get started with the creation of engaging Facebook ads now!

However, as one of the top online marketing companies in Australia, we tend to come across clients who are already running Facebook ads and would like to see how they are performing.

In case you can relate to such client of ours, then this is the blog post for you. We understand that amidst various social media marketing strategies, you’d like to see which one is helping your brand reach and engage well with the active users on Facebook. 

Worry not.

We aim to help you recognize the metrics you need to be made aware of when thinking of analyzing your Facebook Ad performance.

So, let’s get started!

7 Metrics to Analyze Facebook Ad Performance

By effective ways, we aim to emphasize on seven pivotal metrics that will allow your marketing team to get an in-depth insight on how your Facebook ads are performing in general. We will explore each metric and see how each one of them help you understand what needs to be changed in your current Facebook ad strategy.

#1: Ad Awareness

To see how many people are actually aware about your Facebook Ad campaign, you need to take a look at two pivotal KPIs. These are:

 

  • Reach
  • Impressions

 

Reach helps you understand how many people actually saw your ad, whereas impressions help you analyze the number of times a single person viewed that content. However, both the metrics hold individual value based on how your ad campaign was and with what goals was it initially created.

Impact?

Just in case the ratio of impressions is higher than the ad reach, then that means the same number of people have viewed your ad multiple times. In case they’ve been subjected to the same ad (God knows how many times!), then they’ll probably suffer from ad fatigue. How will you know whether they are suffering from ad fatigue – might be your next question.

Well, they’ll end up hiding your ad and at the end of the day your ad will see a drop in its relevance score. At the same time, the algorithm of the platform will start finding your add irrelevant, thus increasing your cost for reach again.

#2: Ad Engagement

To evaluate the ad engagement is really simple. All you have to do is check out a few metrics like:

  • Total Clicks
  • Shares
  • Likes
  • Comments

But yet again the importance of these metrics will vary depending on your the type of campaign you run.

For example, if you just want to create awareness about an upcoming product update, the important metric you need to look out for is public comments. And at best shares for that update. But in case you are planning a sale, then you need to gauge at total number of clicks and likes on the ad.

#3: Ad Click-Through-Rate

According to SocialMediaExaminer, “the average CTR for a Facebook ad is 0.9%, compared to 1.51% for a Twitter ad, and 0.26% for a LinkedIn ad.

The reason why you need to keep a track of CTR is because it helps you understand how your paid ad campaigns are actually performing. Plus, it helps you understand whether the ad quality is good or not. In a nutshell, if you have too many views and clicks for the same ad, then it is relevant and help you engage the target audience better.

#4: Ad Referrals Via Social Media

Another pivotal metric that you should look into to gauge whether your Facebook ad campaign is a success are the number of referrals. Basically, through this metric you’ll learn how many referrals you receive via your Facebook ads.

However, please note that sometimes the total number of clicks you get for the social media post can vary from the total number of visitors you get on your website. So this is how we’ve understood this.

Imagine, you’ve recently posted an ad for your Facebook’s target audience. They click on it. But the moment they see that a separate browser page is opening, they close it. Now when you see this through analytics data, you Facebook ad did get a click (Kudos!). But your website did not receive that visitor and did not show up in the numbers because they closed the browser window.

#5: Ad Bounce Rate

We feel that bounce rate can help you analyze the success of your Facebook ad easily. How does this work? – might be your next question. So, let’s see how this works.

Imagine, you created an ad on Facebook to promote your upcoming product launch. People click on the visit to website button and do not close the browser page. Awesome! You’ve got a visitor on your website.
But hang on.

Don’t jump onto the celebratory mood. This is where you need to step back and see if these visitors are browsing through your website or not. Do check if they stay on your website for long. If not and just leave within a few seconds, then that’s a problem. It means what you maybe offering could be irrelevant to their search or they lose interest the moment they land on your website.

Be it any reason, tracking the bounce rate of your website will truly help you understand the type of content you need to share via social media ads.

#6: Ad Conversion Rate

You’d obviously like to know how many visitors converted into paying customers after going through your ad, right?

If yes, then it is important that you keep track of the conversion rate. Honestly, as an online marketing company we find conversion rate quite a pivotal metric to track. You could track the conversion rate of your Facebook paid ads through:

  1. The advertising platform (Facebook)
  2. The website’s analytics (via Google Analytics)

It will basically give you an idea of how many visitors actually converted and ended up on your customer list.

#7: Ad Return on Investment

Finally, do check the ROI your social media campaign helps your brand to make. You need to know if your efforts towards the paid campaigns are helping you make any money or not.

To calculate this metric, you do not need to use manual methods. Platforms like Facebook help you see your campaign’s ROI through its duration.

In a nutshell, you will get an idea about whether your ads are helping you make any revenue or not.

In The End…

We’d like to conclude by saying that it is crucial for any business (irrespective of size) to see how their ads are working and if they are worth investing in or not. Plus, it is a good practice to see how your social media ads are performing and whether they target the right audience or not.

In short, you can stop investing in any campaign that does bring revenue for your business and come up with a strategy that helps you actively engage with target audience faster!

Leave a Reply

Looking for Professional Approach and Quality Services?

Copyright © Social Mast 2020