One good thing about Facebook and other social media websites is that you can use them to drive your business forward by using their ads. Several success reports from different individuals claimed to have increased revenue by using Facebook Ads.
One thing you should know when it comes to Facebook ads is the key metrics for Facebook ads. There is no way you can do without it if you are looking to make your Facebook adverts for your business a success. The key metrics for Facebook ads allow you to know the success of your ads.
The key metrics for Facebook ads wouldn’t just show you the Reach of the Facebook ads, the conversion rate, and a lot more.
If you would like to understand everything regarding the key metrics of Facebook ads, this is the perfect article for you. We will discuss everything you should know regarding the key metrics for Facebook ads and much more.
What is Facebook Ads’ KPI?
When it comes to the key metrics for Facebook ads, many people ask many questions. What is the concept of the key metrics for Facebook ads is the first question that comes to their minds.
The key metrics for Facebook ads are relatively simple. However simple it is, it determines your business’s growth in the digital space. It is what we use to monitor the performance of a Facebook campaign.
In simplified terms, it is used to track the results and some other specific details of a Facebook advertisement you run. The key metrics for Facebook are very important for your business if you rely on a Facebook campaign.
Things to Watch Out for with Facebook Ads KPI
When it comes to the key metrics for Facebook ads, there are many things you should watch out for. Below is a list of the things you should always watch out for when you run ads on Facebook
Brand Awareness KPI
This is the first KPI you should remember regarding key metrics for Facebook ads. The brand awareness KPI is just as the name implies; it helps you create awareness for your brand to a targeted audience.
With this KPI, the audience will see your brand more often. And in getting to see your brand, they become more aware and knowledgeable about your business.
There are some key things you should watch out for regarding brand awareness. Below are some of the things you should take note
Brand Lift
This is one thing you should watch out for in the key metrics for Facebook ads. The brand lift under brand awareness is pretty important. What brand lift means is very simple. Brand lift is simply the improvement or increase in the audience’s awareness of your business. It is the rate at which more people know about your brand.
It is usually measured through various things, such as the ability of people to remember and recommend your brand. It is also measured through the audience’s attitude towards your brand.
Impression
This is another KPI you should watch out for if you look at the key metrics for Facebook ads regarding brand awareness. Impressions are things you cannot do with. When we talk about impressions, it simply means the number of times your ads appear to the audience.
It is the number of times your ads appear on the screen of the Facebook audience. It should know that it doesn’t necessarily mean the person viewed it. You should also know that one person can see your ads more than once. Always know there is a difference between impression and the number of people that viewed your ads.
Reach KPI
This is just like an impression. However, it is relatively different. If we are talking about Reach KPI, we are talking about the number of times different individuals view your ads.
The major difference between Reach and impression is that one best viewing ads multiple times can increase the impression. However, the same cannot be done for Reach.
If you are good at Reach KPI regarding key metrics for Facebook ads, you should know how to get the most impression for your ads at the lowest possible cost. This Reach KPI doesn’t look at behaviour or previous history; what it does is to Target your audience even though they show do not show any inclination to buy. Below are the key metrics under the reach KPI for Facebook ads.
Reach
This metric is a very important metric for this KPI and is even more important and better than an impression. You might be wondering how, well, the answer is relatively simple. With the reach KPI, the goal is for your ads to appear on the screen of new or unique people; the goal isn’t for one person to see your ads repeatedly.
Frequency
If we are talking about frequency under the reach KPI, we are talking about the number of times a viewer saw your ads. This is done by dividing your impression by your Reach. For example, if your impression is 10,000 and your Reach is 2000, you will divide the 10,000 by 2000 to get the frequency. This example means your ads were viewed 5 times by an average person.
Unique Click Link
This is another very important metric under the key metrics for Facebook ads when it comes to reaching. The unique click link measures the number of people that clicks your ads when it appears on their screen.
One thing you should know is that it doesn’t measure the number of unique people that clicks your ads; if your ads are clicked 5 times by 1 person, it will record that 5 different individuals clicked your ads.
Traffic KPI
It would be best if you considered this important KPI regarding key metrics for Facebook ads. The traffic KPI measures the number of people visiting your website through the ads posted on Facebook.
One good thing about the traffic KPI is the fact that you can get to measure your conversion rate. You will get to know the number of people interested in your business or website after viewing your ads.
However, this KPI doesn’t measure previous consumer or audience behaviour. It also doesn’t measure what happens after the audience gets to your website.
Regarding traffic KPI, there are some key metrics for Facebook ads under it that you should know. Below are some you should put in mind.
Landing Clicks
This is the first thing you will most likely consider regarding traffic KPI. With the landing clicks, you will get to measure the number of times a person clicked your ads to arrive at your website. You will get to know the number of clicks on your ads.
You should know that landing clicks don’t get to measure the number of unique users that clicks your ads; it only measures the number of links generally.
If your ads get around 10,000 clicks, you should know that it isn’t from 10,00 users as the 10,000 might be from people who repeatedly clicked your ads.
Click-Through Rate
If we are talking about the click-through rate, we are talking about the number of people that clicked your ads concerning the number of people who saw your ads. This is a very important KPI regarding key metrics for Facebook ads. The click-through rate is the number of clicks concerning the number of impressions.
It is very easy to calculate the click-through rate of your Facebook ads. If you like to calculate the click-through rate, divide the number of clicks by the number of impressions. Once you do this, multiply the results by 100 to get the percentage.
Quality Ranking
This is the performance of your ads concerning other ads. It would be best if you considered a very important KPI regarding key metrics for Facebook ads. The quality ranking tells you what your targeted audience thinks about your ads.
If your quality ranking is below average, it means there is a problem with your ads, or you are advertising to the wrong targeted audience.
Engagement KPI
This KPI gives you more information on how people interact with your advert and business. It tells you the impression and views or perception of the people towards your business. This KPI includes the likes, comments, and post shares you get from the ads. This is relevant to your Facebook ads.
Conversion KPI
This is arguably the most important KPI regarding key metrics for Facebook ads. The conversion KPI allows you to measure the ad revenue you generate. The conversion KPI includes formal events, custom events, conversion value, and more.
All these KPIs are very important when it comes to key metrics for Facebook ads. The conversion KPI is very important for your business.
Conclusion
In summary, there are many things you should watch out for when it comes to key metrics for Facebook ads. Different KPIs range from engagement KPIs to conversion KPIs and much more. All of these KPIs have been discussed in this article. Did we miss anything