8 Facebook Ads Metrics You Need To Know
Although it may be considered the kind of social network, there are cases when Facebook can be very good for online advertising. This will be because Facebook Ads is that particular platform through which companies, individuals, and small-scale producers can create and manage media campaigns with different purposes: reach new people, engage or boost traffic to their companies, services, and businesses.
Running Facebook Ads campaigns, which mean not only platforms from Facebook but also Instagram, Messenger, and Audience Network, implies that some metrics have to be followed so as to assess the performance of a campaign or rather the ads and directly optimize marketing strategies.
What are metrics?
Metrics are indicators used to evaluate, compare and monitor the performance of processes, activities or products in different areas. In the world of Facebook Ads, they provide objective data that helps to recognize how many people were reached and engaged in certain campaigns, depending on their objective.
Why it’s important to track campaign metrics
In short, tracking the metrics of media campaigns within Facebook Ads is essential to ensure the success and effectiveness of your digital marketing strategies. Performance evaluation, resource optimization, continuous improvement, return on investment measurement, benchmarking, among other reasons, are important to monitor these metrics.
8 Metrics to Understand Facebook Ads
Now that you know how important Facebook Ads campaigns are, it’s also important to understand the metrics used on the platform that make each campaign have a unique goal to achieve. They are essential for evaluating the performance of ads and optimizing your business’s marketing strategies.
1 – Cost per Click (CPC)
Cost per click is simply an average cost per click on the ad. That’s important, allowing the company to determine the cost of bringing in traffic to the website or landing page, to control and optimize a budget for those campaigns. This method can be applied quite often when a business needs to bring customers to a certain page so they can take a specific action-buy something, register, etc
2 – Click Through Rate (CTR)
Ofttimes, used for traffic campaigns, click through rate refers to the number of clicks on your ad after noticing it. It is formed from the aggregation of the click and impression rates. It is important because it measures the relevance and attractiveness of the ad to the target audience.
3 – Cost per Action (CPA)
CPA measures the average price that the publisher pays for users to perform a desired action following exposure to an ad. This can depend upon campaign goals: purchase, registration, downloads, etc. It is a metric calculated by dividing the total cost of the campaign by the total number of actions made.
4 – Return on ad spend (ROAS)
ROAS is simply by name; it computes the value generated in each monetary unit spent on advertising, thus giving an answer to the financial return on campaigns. It would then be a way of analyzing concrete data to justify investments in advertising as well as helping to demonstrate value gained from campaigns to stakeholders.
Also with a self-explanatory name, reach is a metric that is widely used in several campaigns, but there are also campaigns dedicated to it, that is, that use it as the main objective. It is nothing more than the number of unique people who saw the ad, and it is important because it helps to understand how many of them are being impacted by the campaign, giving an idea of the scope of the target audience.
6 – Impressions
Many people end up confusing reach with impressions, however, despite being side by side, impressions are a single metric that shows how many times the ad was displayed. In other words, it indicates how often the ad is being shown, which can help adjust repetition and avoid audience saturation.
7 – Engagement
Engagement is another very important metric that also has campaigns dedicated to it. After all, it shows the total number of user interactions with the ad, including likes, comments, shares and even clicks. High engagement means that the ad has an interest in the content, helping to evaluate the effectiveness of the ad in generating engagement.
8 – Ad relevance
The ad relevance metric comprises three new, more detailed metrics -Quality Score, Engagement Rate, and Conversion Rate. According to the name, this metric measures the ad quality and relevance to your target audience.
