Now that you have read about how to monitor your ads, you can start measuring their success! Wait, you haven’t read about monitoring your ads yet? Then get your keester over there and do it!
So, how can I tell if an ad is performing well?
Let It Ride
Before you can analyze your ads’ performance, let them run for at least a couple days. This way you have enough information to get a realistic idea of how each ad is performing. Once you have a decent sample size, you can monitor them using the Facebook ads manager and analytics.
Understanding the Facebook Ads Manager
Luckily, Facebook makes it pretty easy to see how your ads are doing.
- 1 – Actions: Here you can see what actions have been taken as a result of each specific ad. It shows you the important stuff like page likes, post engagement, page engagement, link clicks, etc.
- 2 – Reports: Here you can find detailed reports about performance, demographics, and more for an in-depth understanding of how your campaigns are doing.
- 3 – Ad Level Reporting: Here you can find a breakdown of your ads performance. You can keep track of your bid, how much each click or impression is costing you, your total cost, the click-through rate, the amount of clicks, and more. This is a good place to start if you are trying to figure out how the ad is preforming.
- 4 – Response Graph: Here you can track the performance of your campaign’s clicks, click-through rate, impressions, and actions over time. This will give you a decent overview of what changes should be made to keep things up to date!
Analyzing The Data
First you need to ask yourself, what am I trying to achieve with this campaign? Then measure how well each ad is performing accordingly. If you are trying to get likes, it doesn’t make any sense to measure the ad’s success based on clicks. Likewise, if your goal is to get people to download something, it doesn’t make sense to just look at the data provided in the ads manager. You would have to go a step further and track how many people downloaded your stuff (there are programs that can keep track of this for you).
Goal: Get ad clicks
Measurement: So you just want people to click on your ad, and end up .. wherever. If you’re using CPC (cost per click) bidding, the easiest way to measure performance is by looking at which ad has a higher CTR or click-through rate. The more clicks an ad gets, the more successful it is, and less you will be spending per click. Here are some general CTR guidelines:
- Optimal CTR: 0.11%-0.16%
- Above Average CTR: 0.07%-0.09%
- Average CTR: 0.04%-0.05%
- Below Average CTR: 0.02%-0.03%
- Poor CTR: 0.01%
Goal: Obtain more page likes
Measurement: There’s a feature on the Facebook ads manager that lets you see different aspects of your ad’s performance. Under the “actions” tab (which is the default) you can see how many page likes were generated from the ad under the total actions, along with link clicks, photo views, and more in a full actions report (refer back to item 1 above – “actions”).
Goal: Getting people to fill out a lead generation form / download something
Measurement: This is where it gets a little trickier. Just because people are clicking on your ad, doesn’t mean people are filling out the form you want them to, or downloading your wicked awesome eBook. If your this is your goal, the conversion rate is what you need to be paying attention to. Keep a close eye on how many new contacts or downloads you get from each ad. You need to track how many people actually make it all the way through the sequence you have set up. You can do this by using an analytic tool (like Google analytics), which is a whole other blog post in itself.
Go Forth And Measure
Okay guys! So now you have the basics on monitoring and measuring your Facebook ads. Get out there, be diligent, test and have some fun with it.