Facebook ads are arguably the second most powerful type of ads.
(Of course, the guys from Google will probably still be number one for a while.)
In fact, studies have shown that in the United States, a significant amount of referrals come from Facebook Ads. This tool plays an important role in driving traffic.
And, we’re not talking about normal traffic; we’re talking about traffic with intent.
By knowing your Facebook ad metrics, you can strengthen your marketing position, be more efficient with your resources and find out if you’re giving value.
This article will go over 7 Facebook Ads metrics that you should constantly be tracking.
Why are Facebook Ads important?
Facebook is the largest social media network in the world.
This just means that everyone is on it.
They’re engaging with each other, connecting, and even selling services online. It is a platform that your potential customers are using for advice, community involvement, shopping, and more.
Facebook is a robust platform where you can generate leads, build brand awareness, and offer solutions to a larger audience.
If you want extra visibility apart from your current efforts, you’ve got to be running something on Facebook.
Facebook ad metrics help you gather the information you need to figure out if you’re making a difference.
Metrics will determine your status, such as your strongest and weakest areas.
Here are the metrics you should be looking at:
1. Return On Ad Spend (ROAS)
ROAS speaks about the money created for each dollar you spend on advertising.
Let’s face it.
When we use ads, we spend money to make money.
So for each dollar that you invest, you want to make sure that the money comes back to you, and if you’re lucky, with revenue. We need to be looking at this metric to help you determine a sustainable solution for producing traffic to your website.
Your ROAS will help you budget and strategize a cost-efficient way to target your prospects and bring in traffic without hurting your pocket.
2. Audience Demographic
It is essential to know who it is you are speaking to.
Understanding who it is you are targeting, like their age, gender, financial capacity, pain points, and wants, are some of the things to consider when thinking about who your ad is talking to. It is not so much about how many are being reached as it is being sure that you are speaking the language of the prospect.
This is why we prioritize looking at your ideal customer profiles. You need to know who your customer is so that you can reach out to them.
Here’s how you can create an ideal customer profile.
Understanding the demographic of prospects will assist you in customizing and communicating content that they can relate to. We all want to be relatable to build that rapport and trust with prospects. Advertising also focuses on stirring emotions and being able to resonate with people.
One of the metrics to study is how your customer reacts or engages with your advertisement.
The reason that this is important is that it shows how people are directly feeling about your content.
When a person reacts, it means that the content has moved them in such a way that makes them take action. That’s called engagement.
Did they click the like button, share it, or put in a comment?
If you have low engagement, review your communication style or if you are talking to the right target audience.
Note on Organic Traffic
We recommend posting up to three times a week. To boost engagement, consider asking questions, posting at peak hours when customers are most likely online or active, using the Go Live feature on Facebook, or sharing relevant content that customers are looking for.
It is important to determine how much your brand resonates with people.
And this is a great metric to judge it by.
Impressions are the number of times an ad has appeared in front of a customer.
If you have a lot of impressions, but find that your engagement rates and CTR are low, then you have a problem on your hands.
This means that your ad isn’t working on getting the attention that it needs. You’re better off taking down the ad and running an A/B test on something that you’ve improved than spending money on something that isn’t performing to your specifications.
5. Cost Per Click
So you advertised and are hoping that people will reach your website.
How do you confirm that you sparked someone’s interest and attention? It is through the clicks. If they clicked on your advertisement, there was a promise in your ad that drew them in.
For this metric to show the best results, you need to be clear on who you are targeting when creating an ad. Again, we bring up the issue of creating ideal customer profiles.
The goal here is to have a low CPC.
This way, your ad does a great job at converting those impressions into actionable results.
The lower your CPC is, the better your ad is performing at converting those impressions into actions.
In the beginning, you won’t always get a high CPC, but through some experimentation, it’s achievable.
6. Click-Through Rate (CTR)
The CTR metric tells you the percentage of prospects that went to your website after clicking on your ad.
Now, don’t expect a 90 percent CTR.
These numbers are usually low, but you have to pay attention to how they grow over time or how one ad stacks up against another.
You have to be careful when studying this metric because it also depends on the content you put out for the audience to click on.
Let’s take, for example, choosing to release an infographic of your product with all the details of your product, along with a contact number.
If your prospect is convinced, they won’t even have to click on the ad; they’ll just call you right away.
Make sure your ad makes them want to click on your link.
7. Likes and Followers
You have worked on developing your brand awareness. Many have come to like or trust your voice through your content, engagement, or others.
They have seen your advertisements, offers, and sites. Now, they can either like or follow you on Facebook.
Looking into this metric will let you know who is interested in your business. By liking and following you, prospects want to see more of your content or are interested in what you share.
Although this is an important metric, it is not complete as there may be others who will like or follow your page without viewing your content or having minimal knowledge about your brand.
That ends up skewing the data a little bit.
This is a metric that shows you how interested prospects are in getting to know you apart from the product.
However, it’s still a barometer for how successful an ad is even with this.
Takeaways on Facebook Ads Metrics
This is by no means a complete list.
And, there are a lot of other metrics that you can check to see if you’re running an efficient campaign.
However, these are the seven that we use to get a gauge of how an ad gives value to our prospects.
No matter what you release on your different platforms, they still need to give value.
By tracking value, you can be more efficient with your resources.
And, that’s what growth hacking is about.
Remember, you can’t growth hack if you don’t track.