How To Measure Your Ads Performance Using Facebook Ads Manager?

Methods To Succeed In Facebook Ads

Set The Campaign Goal

Each ad campaign must have a goal. The goal of the Facebook ad campaign could be anything, including clicks, likes, video play, and so on. Once the goal is determined, the users need to develop an exclusive formula to measure campaign success. For example, if the marketer wishes to direct the audience towards the website, they can purchase a cost per link click. Also, they can buy “cost per like” if they wish to promote the page. Boostability can lend its hands to launch engaging ad campaigns.

Unique Formula

No two businesses are accurately similar, and therefore, each should create a unique formula to measure the success of their campaign. Facebook offers nearly forty-five metrics to count along with the ads report. There are many variables to be considered before creating a formula. The marketer must evaluate the same to make their campaign successful. Though marketers share their CPC, CTR, and CPM, these metrics do not convey the whole story. A good CTR and CPC don’t matter if the campaign does not generate any conversions.

The marketers who are serious about managing their Facebook ad campaigns need to keep up with the following metrics.

ROI Calculation

The sole reason for investing in Facebook ads is to gain some kind of return on investment from them. ROI matters a lot more than other metrics such as impressions, clicks, and reach. The marketer needs to sum up the total revenue gathered from the campaign and divide it by the total amount spent on the ad to calculate ROI. Any of the custom reporting views set up by the marketer helps in calculating ROI.

Also, if the marketer promotes multiple products, then it is essential to calculate ROI individually from each of the products. Because the purchase value for each product varies according to the price range. Particularly, if the marketer is into the e-commerce industry, this method of calculating ROI is of great value to promote a product or service with a fixed price.

Privacy Conditions

Facebook users are more concerned about their private information. It is understood that more users are activating their privacy settings and filtering the type of ads they are receiving. These privacy considerations may alter the relationship between brands and Facebook users. The users can specifically indulge in any category to learn about the type of ads they receive. This approach supports in examining which advertisers are utilizing the best practices on Facebook. You can check blogs from Boostability to know how much social media users are concerned about privacy.

Troubleshooting Red Flags

Low Impressions

• The ads may not be displayed to many people if the marketer proceeds with the narrow targeting. Targeting is done through ad set level, so the marketer can view the audience size and estimated reach.
• The marketer can also schedule the schedule assigned for an ad and make changes by including additional days and times.
• Also, every brand needs to ensure that their ads do not violate the policies mentioned on Facebook. For example, if the ad consists of too many texts, it won’t be displayed to too many users through Facebook runs the ad.

Low Click Through Rates

When a low click-through rate is reported, it may be because the ads are not attractive to the target audience. Therefore it is essential to develop an ad copy that is creative and relevant to the target audience.

Non-Converting Ads

Marketers need to ensure that they are using the best methods to examine top-converting benefits. If the marketer succeeded in driving traffic to the website through an awareness campaign, there is no significant conversion. The marketer needs to develop a compelling landing page.

Avoid Comparing With Competitors

Any specific brand or marketer compares its performance over others. It may be self-satisfying to know if the ads rank above your competitors. Instead of measuring the ad performances against other brands, ensure to maintain the consistency of the ad campaigns. In this way, the marketers can understand what works for them and optimize the ad campaigns. Optimizing campaigns individually will help in gathering better results.

Enhance Relevance Reporting

This approach tells the marketer how relevant the ad is for people who are watching and also enables them to make changes to their ad and audience. The essential metrics to determine relevance includes quality ranking, engagement rate ranking, and conversion rate ranking. In the quality ranking, the quality of the ad is compared with promotions focussing on the same audience. The engagement rate ranking helps to compare the engagement rates of other ads with the same target audience.