5 Facebook Metrics That Matter and Why
Creating a strong Facebook/Instagram ad campaign (I am including Instagram as these metrics apply to both) relies on regularly reviewing your ad performance and making changes based on the data. There are so many different ways of measuring data that it can be confusing to know where to start, especially when it’s your business’s money on the line. Often people think “likes” and “comments” are big indicators of a successful campaign, but we’ve identified some money making metrics that hold much more weight for your business.
Frequency
Frequency is the average amount of times someone sees a particular ad. E.g. If your ad has a frequency score of 3, it means of the total people who saw your ad, each person saw it an average of 3 times. This metric is important to make sure you are not fatiguing your audience with the same ad as people will begin to stop paying attention when they have seen an ad too many times. If your ads are getting a frequency score of 4 or more you may want to try and refresh the content or try expanding your audience. A high-frequency score can lead to low relevance score.
Cost per result
The average cost per result from your ad. Whether a ‘result’ for your ad is purchases, website registrations or landing page views it is important to make sure your cost per result is acceptable as a business expense. E.g. I am selling boxes of cupcakes online at $10 each and my profit margin is $5. If my ads are optimised for website purchases and my cost per result is greater than $5 I am actually losing money on each sale. In this case, I would want a cost per result of less than $5 (ideally $2 or less) in order to have a positive return and justify the ad spend.
CTR (Click Through Rate)
The number of times people saw your ad and clicked (total clicks/total impressions). Basically the higher your CTR the more value you are getting out of your ad spend. Remember to take CTR with a grain of salt and always focus on the final conversion at the end of the day. Link clicks are only great if they end up in leads/purchases for your business!
Reach
The number of people who saw your ad at least once. Reach is important as it shows you the total amount of people you are showing your ad to. Reach is the backbone of strong ad performance, the more people you can reach in your target audience the more potential customers you can acquire. Reach is affected by a number of factors that go into Facebook’s algorithm including relevance score and engagement rate. Poor targeting (audience too broad) or unengaging creative can also negatively affect your reach.
Relevance
A rating from 1 to 10 that estimates how well your target audience responds to your ad. You need at least 500 impressions before this score will appear. If you have a low relevance score it means people seeing your ads are not engaged. This could be due to poor ad creative that doesn’t engage your target audience or if you think your ad creative is strong and clear you may need to review your audience to make sure you are specific enough in your audience targeting.
Now that you’re armed with these five crucial Facebook metrics, use them as a guide to make sure you are getting the most out of your campaigns. If you or your business needs guidance with your social media campaign, the social team at StewArt Media are ready to help!
