Facebook Ads can be an extremely effective marketing tool when used correctly.
Allowing you to target a specific audience, you can ensure your ads reach exactly the right people in order to successfully increase leads and boost conversions. However, the key to making your ads a success is knowing how to measure your Facebook ads effectively.
Analyzing clicks and impressions
There are a lot of things you need to measure in order to see just how successful your ads are on Facebook. However, two of the most important are clicks and impressions.
Impressions relate to how frequently your ad is shown. The more impressions you have, the more it’s going to help with brand awareness. This is especially important for those looking to launch a new product or reach new customers.
Clicks determine how many people actually clicked on your ad. This helps you establish how much engagement and interest there is in the ads you’re running.
Now, to establish how well your ad is working, you should measure how many clicks it’s receiving and then divide that number by how many impressions it has. This will show you the click through rate – something that’s vital to your ROI.
Make Use of Google Analytics
As well as tracking how your ads are doing on Facebook itself, you might want to make use of Google Analytics too. This shows you how your ads are doing away from the site.
For example, if your Facebook Ad directs the user to your website, you’re going to need to measure what happens once the customer gets there. Google Analytics allows you to see exactly how your Facebook ad campaigns are impacting your business off the social networking site.
Consider lifetime value
Another important thing to look at when measuring your ads is lifetime value of the customer. You need to know that the amount your spending on the ads, compared to their click-through rate is worth it.
When thinking about lifetime value, you need to look at how much the customer is going to earn you for the length of time they remain a customer. If you only look at how much revenue your ad brought in for the first month, you could end up underestimating the actual value of your ad.
Overall, measuring the performance of your Facebook ads is vital if you want to receive best results. It’s definitely worth looking into the Page Insights tool on Facebook itself, as this helps you to see how well your page is doing.