Are You Going Far Enough?
You may have already taken the dive into paid Facebook ad campaigns, but are you doing everything you can to maximize your return on investment? If you’re not doing these 5 things to measure the success of your Facebook ad campaign, you could be missing out.
Identify Your KPIs
Your key performance indicators are the metrics essential for the success of your business. Get information from your KPIs using the Facebook Insights tool.
KPIS vary from company to company, but here are some social media KPIs worth considering:
- Your organic reach. These are the people who have actually visited your Facebook fan page to view its content (as opposed seeing content through a friend, which is a measure of viral reach).
- Engagement. These are the people who like or share your content, a sure sign that your content campaign is effective. It helps to target thought leaders.
- Your Click-Through-Rate. This goes a step beyond your reach and gives you an idea of who is actually interacting with your content, like watching videos or reading articles.
Use Facebook Ads Manager
Facebook offers a handy primer on using their ads manager to measure the success of your marketing campaign. Download the manager app for iOs or Android to get started. Your ads manager data can be customized by date range and objective. Your performance column gives you access to important information, like:
- Video views or percent watched
- Website actions
- Clicks, and more.
Facebook Ads Manager allows you to customize reports based on your KPIs and objectives. For example, if you’re interested in measuring the number of conversions from a particular ad campaign, simply select the “customize columns” from the dropdown menu and select which metrics mean the most to you, like conversions. These metrics will appear in your reporting table.
After you’ve selected your reporting metrics, schedule, view, and share reports to show stakeholders what’s working and what needs a tune-up.
Determine Your ROI
Viewing reports from your specified time range and chosen KPIs allows you to measure your return on investment. If your ad campaign is showing good conversions and extended reach and click-through-rates, you’re doing something right. Track your social ROI to see if your campaign met its objectives: garnered enough likes, encouraged enough conversions, or increased the virality of your posts enough to merit running it again.
What Are Your Key Takeaways?
Use free Facebook tools like Insights and Ad Manager to see what parts of your ad campaign and social media presence as a whole are working. Insights, in particular, is handy for seeing what kinds of content are working and what’s not. Rerun your campaigns and content that show a strong ROI, and nix (or alter) those that don’t.
Ad campaigns on Facebook are often worth the investment but only if they’re measured properly. Follow these five steps to maximize your investment in your marketing initiatives – learn what works, and know when it’s time to retarget.