The recipe for creating the perfect Facebook advertisements lies in precisely tracking your most important KPIs and learning how to improve your success rates in these spheres of your campaign. That is why we have decided to create a template that will include all the necessary metrics for tracking, analyzing, and improving your efforts in this department:
1. Top Level Metrics
Impressions - a.k.a. views, impressions are the standard metric for measuring how well your advertisements are performing on Facebook. The platform tracks ad impression from the very moment the ad appears on the user's screen, regardless of the device they are using.
Reach - Even though reach is often confused with impressions, these two metrics are quite different. Reach is the total number of people who see your content, while impressions are there to show how many times your content has been displayed to your select audience, regardless if they interact with it or not. Think of reach as the number of individuals who have been exposed to your content.
Click-Through-Rate - a.k.a CTR, is the ratio of how often the people who see your ad end up clicking on it. The rate itself is calculated by dividing the number of impressions by the number of clicks. For example, a CTR score of 1 percent means that for every 100 impressions your ad has received, one person has clicked on it.
Cost - This metric is quite self-explanatory. It represents how much money you’re spending on your advertisements. Keeping a close eye on your budget is always important. Campaign budgets can be misleading. Even though online advertisers set budgets as safeguards, in many cases their actual spend goes beyond their budget by 10, 20 or even 30 percent. This might not seem like a big deal to advertisers who spend less, but if you spend a lot of money in this department, you could be severely hurt by false projections.
2. Second Level Metrics
Actions - Simply put, an action can basically be anything that you want it to be. It always represents a desired behavior that you expect from your targeted audiences. It can be a click to your website or specific web pages, it can be a play button on your video, a share, or something completely different.
Actions are often goals, but, in most cases, the total number of completed actions is not really enough to provide a clear understanding of how your process really works, and what you need to do to replicate your success or improve the performance of your future advertisements.
Unique Clicks - Unique clicks are not the same as total clicks. Unique clicks is the number of people who have clicked on your ad. If the same person has interacted numerous of times with your ad, the unique clicks indicator will count it only as a single interaction.
Clicks by Device - This metric display what sort of devices your users are coming from. It’s often used to compare how well certain ads are performing on mobile vs. desktop, and vice versa.
3. Final Level Metrics
Clicks by Age Group - A metric designed to provide the advertiser with insights that will help them better understand their audience. The demographic report is there to help you see which age groups are interacting with your creatives.
Clicks by Gender - This metric is here to display and distinguish between the gender of the people who are clicking on your ads. If, for example, a larger percentage of your interactions are coming from women, maybe you should do your best to further optimize your creatives and targeting that gender.
Placement Overview - As you know, Facebook provides advertisers an option to run their ads on every app and service in the network’s family. This allows advertisers to have more flexibility with their campaigns and reach out to their audience in a tone and manner which they prefer. From this platform, you can place your ads on Facebook (Feed, Instant Articles, In-stream Videos, Right Column), Instagram (Feed, Stories), Audience Network, Messenger (Home, Sponsored Messages). This gives the advertiser a lot of room to plan and execute sets of different strategies with different end goals in mind. Of course, depending on the type of the creative, not all of these placements might be available.
There are basically two ways to use the placement option: automatic or manual. If you’re using manual, you’re in charge of everything, including creating different campaigns with different objectives, like Brand Awareness/Engagement for Facebook and Instagram, and Product Catalogue Sales for the Audience Network.
Monitoring placement overviews is a great way of understanding which Facebook family tree brings you the most fruit. These types of numbers can help you better optimize your campaigns and provide all the necessary details regarding the way of maximizing your efforts and reaching out to your desired audiences.