How to measure the performance of your Facebook Ads with KPIs?
Facebook Ads is one of the most interesting ways to advertise on social networks. In addition to the social media’s large user base, its advertising platform offers you a multitude of choices for your ads. You can give free rein to your creativity to convince and seduce Internet users.
But above all, Facebook Ads gives you access to high-performance tools to create effective campaigns that are relevant to your objectives. Find out how to measure your performance on Facebook Ads:
Facebook Business Manager: the advertising manager
Facebook Business Manager is the platform’s tool for managing all of your advertising campaigns, whether they are ongoing, completed or upcoming. It is therefore an indispensable tool for centralising your Facebook ad campaigns and, above all, for accessing the reports and statistics that result from them.
Fortunately, this Facebook ad manager is very well done. Optimised over the years, you will find all the data you need to optimise your future Facebook campaigns.
Many options are available to you to adjust before and after the launch of your ad campaign. You will be able to select the advertising objectives to achieve the desired results. This campaign objective will determine many other variables: the possible ad formats, your budget, etc.
Set your objectives for your Facebook Ads campaigns:
Facebook Ads offers you several types of campaigns on its platform: awareness, consideration, conversion. With each type come several advertising objectives. Each one will allow you to achieve a specific goal, from improving your visibility to conversion and generating qualified traffic to your website. Let’s discover them together:
On Facebook Ads, you can run an awareness campaign. There are two objectives: brand awareness and coverage. With the first, the ad campaign will aim to improve your brand awareness.
With the second, the objective of the campaign will be to reach the largest number of internet users for a specific audience. The latter campaigns are very effective, especially in retargeting or remarketing.
For consideration campaigns, you will have a wide choice of very specific advertising objectives. As a reminder, the campaigns have different uses: to make your targets aware of your solutions, your brand, your content, your products or services.
You can choose from the following objectives:
Traffic to generate qualified traffic on your site at a lower cost.
Interaction to increase “Likes” on your Facebook page, responses to an event, or interactions with your publications, like, comments or shares for example.
Install apps to get the most downloads of your mobile app from target users.
Video views to maximise the number of views of your video content.
Lead generation to generate leads directly on the platform, without friction, and thanks to a customizable and integrated form.
Messages to generate contacts through Messenger, Facebook’s messaging tool.
Each of these consideration objectives will serve a specific purpose for your business and brand. Some will be the first steps in bringing a community together. Others will help bring some of your target audience into your conversion, or sales, tunnel.
For your conversion campaigns, you can choose from 3 objectives: Conversions, Catalogue Sales and Point of Sale Traffic. The first one is a flagship advertising objective of the Facebook Ads platform. Its purpose is to generate conversions on your website at a lower cost. The Facebook Ads algorithms will therefore seek to optimise the cost of conversion as much as possible.
As for the other two, the Catalogue Sale objective is intended for advertisers who have created a catalogue on Facebook. You can then promote the products in this catalogue via this campaign objective.
For Point of Sale Traffic, it is obviously relevant for companies with physical shops or shops. You can therefore create Facebook ads to direct your target audience to these points of sale. Specific call-to-action buttons are available for this purpose: directions, call, message, learn more, buy or order.
Measuring your Facebook ads with KPIs:
Each advertising objective has its own KPIs to track. These KPIs, for Key Performance Indicators, allow you to measure the performance of your advertising campaign and to analyse it. This way you will know if you have reached your own marketing objectives, especially in terms of return on investment. Thanks to these KPIs, you will also be able to better regulate and adjust your future campaigns on Facebook
What is a KPI?
As mentioned earlier, a KPI is a key performance indicator. It allows you to measure the performance of your paid ads on Facebook. Your KPIs are usually connected to the campaign objectives you have set.
What KPIs should you track to analyse your Facebook Ads campaigns?
Not all campaigns can be analysed or monitored using the same KPIs. They vary according to the selected objective. With Facebook Ads, you will be able to measure various performance indicators: impression, coverage and reach, interaction and engagement, conversion rate and leads generated.
There are several KPIs that may be interesting to track depending on your Facebook Ads campaigns:
Click-through rate or CTR: refers to the number of clicks on an ad compared to the number of views.
Cost per click or CPC: is the cost paid by the advertiser for each click made on the ad.
Return on ad spend or ROAS: this performance indicator is obviously one of the most important. It allows you to measure the revenue generated for each euro spent on advertising. It is therefore very similar to the return on investment.
Cost per action or CPA: refers to the price paid for a given action.
Cost per thousand or CPM: the cost per thousand impressions is the price paid for that number of times your ads are displayed.
To track and measure the performance of your Facebook Ads marketing campaigns, you can use the services of our web marketing agency Doko. We will assist you from A to Z, from the definition of your objectives and the associated key performance indicators to the optimisation of your future campaigns.