5 Steps to Reviewing Your Facebook Ad Performance
You’ve published your Facebook ad campaign. Now what?
If you’re like most, you check it off your to-do list and focus on other things while it runs. But the truth is, if you’re not analyzing data and optimizing it shortly after it starts running, you’re going to lose money, clicks, conversions and more.
No matter how awesome you think your campaign is, you need to monitor it (or have us do this for you) to see how it’s performing and when it’s time to revise it.
Here’s how to analyze your Facebook ad campaign in 5 simple steps…
- See who’s viewing and engaging with your content.
One of the first things you’ll want to review is who is viewing your ads. You can measure this by looking at reach and impressions. Reach is the number of people who saw your content, whereas impressions is thenumber of times people saw your content, even if it’s the same person twice. So, if an ad was shown to 100 people who viewed it twice, then you’d have 200 impressions, but your reach would be 100.
You’ll also want to look at the ratio of impressions to reach. You want to make sure one person didn’t see your ad 10+ times because then your campaign becomes more expensive. When the algorithm thinks your ad isn’t relevant, you have to pay more to reach your audience.
Engagement rates are also important to the algorithm. The more likes, clicks, comments or shares you have signals that your content is engaging and gives Facebook more reason to display your ad to your audience.
- Look at your click-through rate.
The click-through rate (CTR) for your ad campaigns indicates the quality of your ads. The more people who view your ad and click the link, the more engaging it becomes. If you’re paying per impressions in your campaign, a high CTR saves you money. Facebook gives awesome creative tips on how to make your ads more engaging. Consider using vertical videos, shortening text and adding movement to your ads to make them stand out.
- Track website analytics.
Reviewing website traffic is particularly important when you’re running social campaigns. Start diving into your web analytics to see the number of referrals you’re getting per campaign. Once you have an idea of how many new visitors you’re attracting, look at bounce rates and conversion rates. Review what happens after people click on your ad and visit your website. Are people spending time on your site, or closing the tab quickly? If they’re leaving fast, this means you have a high bounce rate—NOT something you want.
The goal is always to have high conversion rates, or a percentage of visitors who turn into paying customers.
Conversion rates are important to review because your goal is to increase conversions by running your ad campaigns.
- Calculate the cost of conversions.
Once you know your conversion rate, you can determine whether advertising on Facebook (or any social platform for that matter) is a good investment. Calculate the cost per conversion by dividing the total amount spent by the total number of conversions. For example, if you spend $200 to get 10 new customers, your cost per conversion is $20.
- Determine the ROI.
The return on investment (ROI) is usually available on social platforms where they will have a section to show you your campaign’s ROI throughout the run time. If your ROI percentage is positive, you’re making more money than you’re spending, however if it’s negative, you could be wasting money.
If it’s negative, consider revising the campaign by:
- Editing the ads (copy or design)
- Changing the target audience
- Adjusting the campaign objective and goals
Monitoring your social campaigns goes much further than looking at ROI or website traffic. We help clients set up, monitor and revise digital ad campaigns to maximize ROI, conversion rates and more.
Don’t miss out on monitoring your next digital campaign. Let us do the daily work for you!