How to Track and Analyze your Facebook Ad Conversions
What is your goal when you run a Facebook Ad Campaign? Is it to get more likes? Is it to get more impressions? Is it to get more customers?
This depends on the type of service or product that you want to promote at the time of advertisement . A restaurant might want more people to visit their place of business to redeem an offer. A gym might want to get potential customers to call them or maybe have them sign up at their location. An online entrepreneur might want more traffic to his website and capture e-mails.
But after all is said and done, there are certain KPI’s (Key Performance Indicators) that a business owner or entrepreneur should be able to track and analyze in order to measure conversions.
Here are 3 ways you can analyze your ad campaigns:
1. Clicks
If the purpose of your Facebook ad campaign is to capture a customers’ e-mail, information or sell them a product, the key things you want to analyze are:
Click Through Ratio (CTR) - This metric will indicate what percentage of the people who saw your ad actually clicked through and took action.
Cost Per Click (Cost Per Click) - This metric will show you the actual cost of each click that takes place. It allows you to get a better idea on how to budget and what demographic to budget for.
Cost Per Thousand Impressions (CPM) -This willgive you a broader picture as to the value of the cost per each click that you received. For example, if you run a campaign and only get 700 impressions with 100 clicks, if you base it off a CPM, it will give you a clearer picture off 1,000 impressions, in case you want to target and increase your ad budget.
2. Likes
If the purpose of your business is Branding, then likes can be important in your campaigns. If you have gotten the right people to like your Page, therefore, you will instantly know a lot about your Page posts’ audience, helping you to target them with the right content and products.
3. Social Impressions
One of the key factors for any Facebook Business Page is it’s “Social Influence”. This is reflected by your page’s followers. They will demonstrate their opinions, emotions and favorite actions via their posts. If you would like to capture the attention of people who think similarly to your followers, then this is a key statistic you want to look at.
Whatever your goal is in running Facebook ads, you should be able to track your results with Google Analytics or some other type of reporting platform.
Feel free to leave any comments or questions below.
Recent Comments
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Very insightful and useful post localpro ! Thanks for writing it !