How can you calculate the impact of Facebook ads in driving the growth of your business?
Is your ad spend reaping a significant positive ROI or are you just wasting your resources on a marketing strategy that isn’t working for you?
To achieve success in any advertisement campaign, there are key social media metrics that you need to track. In this article, we’re highlighting nine ways that you can analyze your Facebook ads performance.
It helps if you use a tool with a complete Facebook ads dashboard to keep track of everything, but the measurements are available directly in the platform, too.
Let’s get started.
1. Monitor Reach and Impressions
The first step is to determine the number of people that see your paid ads. To calculate this, you need to monitor your ad reach and the number of impressions it receives.
Reach and impressions are two distinct metrics that marketers sometimes confuse, but they mean different things.
Your ad reach is the total number of people that saw your ad. For example, if your Facebook ad was shown to 50 users, your ad reach would be 50.
Impressions are the number of times people saw your ad, even if the same person saw the ad twice. The higher the number of impressions your ad gets, the more awareness it garners.
For example, if 50 Facebook users were shown your ads and they viewed it twice, the number of impressions would be 100.
While it is important that your ads get a significant number of impressions, you need to be wary of ad fatigue.
Ad fatigue is a situation where one user sees an ad multiple times while scrolling through the feed. For example, if your ad was shown to 500 people and it has 5,000 impressions, that would mean that the average user saw your ad 10 times.
A single user seeing an ad multiple times would reduce the amount of conversion your ads would generate. For instance, if your Facebook ad was shown 10 times to a user that has already been converted, it would be a waste of resources.
It would be better for the paid ads to be distributed evenly to users who haven’t viewed the ad before, or the ones who have viewed it once and need further convincing.
Not only can ad fatigue annoy your audience, but it can make your entire campaign expensive. So, what steps can you take to combat Facebook ad fatigue?
Automatically pause paid ads with high frequency
Once your Facebook ads reach a high frequency of impressions, you should pause the ads.
If you are running a ton of Facebook paid ads simultaneously, it would be tedious to do this manually. You can use Facebook’s automated rules to automate the process.
To create a Facebook automated rule, go to the Facebook Ads Manager, then click on Automated Rules under Create & Manage.
The next step is to click the green Create Rule button. Next, you apply the rule to All Active Ads and the action would be Turn Off Ads.
Under Conditions, you can choose when to turn off high-frequency ads. You can set the Frequency and Impressions limits to fit the parameters of your business and account activity.
Here is an example of what a rule looks like:
Create new Facebook ads and new audiences
Since you are pausing ads with high frequency, you would need to create new Facebook ads so you can keep generating revenue.
Creating a new ad isn’t difficult. You can do the following to get started quickly:
- Change CTAs
- Change ad copy or headlines
- Use new images or videos in the ad content
- Change the image background
These are the steps you can use to create a new audience:
- Create a new audience based on customer behavior
- Create lookalike audiences based on key metrics like engagement, time spent, purchasing power, etc.
- Create new audiences by uploading customers from a file or directly syncing your CRM