Facebook Ads: 8 Ways to Analyze Paid Social Media
Ever thought about how you can evaluate the influence of Facebook Ads in boosting the growth of your business? Is your spending on Facebook Marketing Packages in Pakistan acquiring a noteworthy valuable ROI or are you just wasting your assets on a Social Media Marketing Services in Pakistan strategy that isn’t functioning well for your business?
To accomplish success in any Facebook Ads campaign, there are significant social media metrics that every business needs to track. In this article, Xcentric Services will be highlighting eight ways through which businesses can benefit from while analyzing their Facebook Ads.
It benefits if you consider using a tool with a comprehensive Facebook Ads dashboard to keep track of the whole strategy, but the measurements are accessible openly in the platform, too. So let’s get started and see how you can analyze this paid social media marketing strategy.
1. Analyze Ads Reach and Impressions
The initial step is to manage the number of audiences that view your paid ads. To measure this, you need to observe your Facebook Ads reach and the number of impressions it wins. However, reach and impressions are different metrics that marketers seldom confuse. While Ad reach is the total number of people that saw your add, Ads impression are the number of time a person saw your Ad, either twice or thrice. And the more impressions you get, the more awareness is accumulated with your Ad.
However, a business needs to be careful of the ads fatigue. It is a situation where a particular viewer sees an Ad multiple times while scrolling by the Facebook Feed. Hence, decreasing the number of conversions your Ads would generate, while there’s a notable waste of your resources. So to make sure that your audience isn’t annoyed with the same Ad popping up again and again, and you don’t end up with an expensive campaign that didn’t generate you any profit, take these steps to combat Facebook Ads fatigue;
- Pause Ads with High Frequency – Once Facebook Ads drive to a high frequency of impressions, consider pausing them. However, if you’re operating tons of Facebook Ads together, pausing manually isn’t an effective deal. Hence, use Facebook’s automated rules from the Facebook Ads Manager. Create a new rule for all your active Facebook Ads, and voila, you’re all set to limit the Ads activity. Though here’s a snapshot of what creating a rule looks like;
- Place new Facebook Ads – Considering that you are pausing your Ads with high impression frequency, you would require to design new Facebook Ads, to keep generating revenue.
2. Calculate the Ads Engagement Rate
Engagement metrics are performance indicators that demonstrate a business how their user interacted with their Facebook Ads content. Some of them which you can evaluate include; Likes, shares, comments, and reactions to Ads.
However, the decision that a business should dwell on engagement metrics or not is entirely dependent on the Facebook Marketing Services in Pakistan campaign objectives. Thought here’s one thing we’re sure about; Facebook algorithm marks an Ad with more engagement as worth viewing, hence, leading it to success.
3. Track Social Media Referrals
Google Analytics has made development more apparent for marketers. With it, businesses can accurately analyze the number of referrals they get from social media. And when you’re running a Facebook Ads campaign, knowing the number of referrals you’re getting from the platform is essential because it helps in gauging the performance of Ads.
However, the referral values a business receives from Facebook’s inbuilt analytics tool can be misleading, because it might show added traffic than your site receives. While Facebook analytics count every click as a referral, even when the Ad didn’t load completely, Google Analytics shows a real picture of a brand’s referral rate.
4. Never calculated the Click-Through Rate? DO IT NOW!
Click-through rate (CTR) is interpreted as the ratio of Ad clicks to impressions. It helps a business determine the effectiveness of their Ads. However, if your Ads are observing high impressions with lower CTR, it indicates you are performing something reverse. Possibly your advertisement cast is off, or the service you are contributing isn’t worthy enough to drive the users to click.
Pro Tip – To boost the CTR of your ads, you must create such an advertisement content that offers a distinct value proposition. And for this, you need to know what your audience wants to see; All through consistently offering value to the right target audience by using powerful visuals and a worthy Ads copy.
5. Is your Return on Ad Spend higher?
Return on Ad spend is characterized as revenue divided by Ad cost. The greater the return on your advertising spends, the added conversion you get. Fundamentally, ROAS answers the question; if a business puts X amount of dollars on a Facebook Ad, how much would it get back?
This is an imperative question to investigate because if your advertisements aren’t producing profitable dividends, then it isn’t worth it. A business should target a positive ROAS value, which indicates that it is making more dollars than it is spending on advertising.
TIP – When measuring ROAS, examine your Facebook Ads budget and click-through rate and get at least 100 clicks before measuring ROAS.
6. Estimate Conversion Rates
Conversion introduces to the precise action taken by a viewer on your website. However, the conversion metric would modify depending on an Ads objective. Though there’s one thing to note – Capturing a huge amount of clicks does not assure high conversion rates. Possibly, the user might just click your ad and not take any desired action. But perhaps, you can still take these actions to get them in action;
- Design Eye-Catchy Visuals
- Place a precise Ad Copy
- Add a precise Call-To-Action
7. CPC and CPM – Real Efficiency Indicators
Facebook proposes several measures to be charged for advertisements. The most customary ones used are;
- Cost Per Click (CPC)
- Cost Per Mile (CPM)
With CPM, businesses are charged for every thousand impressions their Facebook Ads get. However, the downside is that a business has to pay, regardless of the Ads performance. Though with CPC, a business only pays for every click their Ads get.
Even though Facebook Advertisement is cheaper than Instagram Marketing Services in Pakistan and LinkedIn Advertising, a business can still slide down and lose their dollars easily if they don’t track these Ad performance indicators.
8. What’s your Follower and Page Like count on Facebook?
Your Facebook Page Likes are the representation of the viewers that have opted to follow your business. Those are the viewers who see your posts in their feed automatically. Businesses can also take this further by examining their page’s like trends over a period. This will involve a division of unlike, organic likes, and paid likes. Page likes reveal you the reach of your Facebook audience, so if it’s not driving up, you’re either missing the same number of likes that you’re winning, or people aren’t following you at all. Here’s a snapshot of the follower count of Xcentric Services;
Analyzing Facebook Ads achievement is not something you do on the fly. There are numerous metrics that a business needs to consider. But, it is up to you to decide which metrics are most relevant to your brand.
While it is simple to interpret metrics such as reach, impressions, and engagement, a business needs to take out time to measure KPIs like CPC, CPM and conversion rates.
Periodically analyzing metrics would assist you to decide if you are getting a convinced ROI from your Facebook Ads campaign. However, if you’re not sure that you’ll be consistent with analyzing these metrics, being a Digital Marketing Agency in Chicago, we’d suggest, get some Facebook Marketing Services in Chicago.