Continuing our getting started guide for Facebook Ads, Boost Media overviews what you need to know to get started with Facebook conversion tracking, and performance reporting. If you haven’t already, check out the first installment of this series where we cover Facebook Ad objectives, budget, and campaign management practices; the second installment, where we review Facebook Ads targeting options; and the third installment where we focus on creative for Facebook Ads.
How do I measure Facebook Ad performance?
Depending on your program objectives, you may need to implement the Facebook Pixel to track conversions. If your goal is something like getting more eyeballs on your brand or growing followers on Facebook, you can skip to the next section on Facebook Ads reporting. If you’d like to track lower-funnel conversion metrics, read on.
The Facebook Pixel enables you to track actions on your website after someone has clicked on a Facebook Ad. You can use it to capture purchases, sign-ups, or leads, attributing those events to the specific ad that drove the click to the site. With help from a developer to get your site set up to pass a dynamic variable to the Facebook Pixel, you can also track revenue to measure ROAS (Return on Ad Spend) from Facebook Ads.
Custom audiences and remarketing
You can set up the Facebook Pixel to create Website Custom Audiences for remarketing to people after they’ve visited specific pages on your website.
Mobile app conversions
For those using Facebook Ads to drive mobile app downloads and engagement, you’ll want to install App Events. For more on Facebook mobile app advertising, get started with Boost’s quick tips, plus this Q&A on how to use Facebook and Instagram Ads to improve mobile app engagement.
How do I know if my Facebook Ads are working?
There are many different metrics to look at in Facebook reporting. It’s easy to go down rabbit holes worrying about how many Likes you got, or how many people saw your ad. Before you dive into Facebook reporting, revisit your campaign objectives and KPIs. If your goal is to drive video views, focus on that metric. If your goal is ROAS, focus on revenue, conversions, and cost.
You can see basic reporting in the Facebook Ads Manager or Power Editor.
Reporting data can be used not only to understand what happened but also to inform your targeting and creative strategy. For example, you may identify through your reporting that Lookalike targeting drives a stronger conversion rate, while Interest targeting is best used to expand reach.
Where to go from here
With a total of 1.71 billion monthly active Facebook users as of the end of Q2 2016, the social network is far too great of an opportunity to overlook or take lightly. By applying carefully thought out techniques for conversions, and by being smart about interpreting and acting on reporting, you have the potential to catch the attention of some of this massive audience via Facebook Advertising. Stay tuned for next week’s final installment of Boost’s guide to getting started with Facebook Ads where we will cover additional Facebook Ads tools and advanced features to be aware of.