You look at your report and see numbers splashed across the page. Do these numbers look good? More importantly, are they indicators that your ads are working? The answer is merely looking at the right KPIs, having events set up properly on your website, and remember that your marketing channels work together to reach your sales goal.
Proper KPIs Are Dependent On The Ads You’re Running
The important thing is understanding what KPIs to look at to ensure your ad is responding well to your audience. For instance, it would make sense with an ad featuring a traffic objective, you would look at the cost per landing page view and the amount of landing page views it received. On the other hand, this is not as relevant to look at for a branding campaign or video view ad.
Example of campaign objectives and KPIs to review:
If you are running a traffic campaign, examine the: cost per landing page view/cost per result and landing page views. These KPIs will go hand-in-hand: if your landing page views are low, then your cost per landing page view is going to be high. If this is the case, see if the page is working properly, if there are any issues with your targeting, or if the creative is engaging enough to make people click on the ad.
If you are running a video view campaign, examine the: cost per result, percentage of video watched, average time watched. If your video is 30 seconds long and people are only watching 3 seconds of it, that is an indication it’s not performing well based on either targeting or creative.
If you are running a branding campaign, examine the: cost per result, estimated ad recall, impressions, and reach. Branding campaigns serve the purpose of getting your business in front of people’s faces. Make sure that it’s being seen by many people and you’re keeping the cost per result low.
If you are running a catalog sales campaign, examine the: this is dependent on the event objective you chose in the ad set portion. If this was an auto inventory campaign, we typically choose the event to be “view content.” Then from here, we review the view contents, cost per result, and landing page views.
In general, your cost per result is key to having the campaign performing. However, take a deeper dive into each of the other KPIs to see the full view of how the ad is responding.
Are Your Events Setup Correctly?
Now we understand what KPIs to review, take advantage of the events you can set up with Facebook Event Manager. Additionally, make sure these are events that are relevant to your business. Some events Facebook offers are contacts, purchases, leads, add to wishlist, and much more.
You can set this up either through Google Tag Manager or the Event Setup Tool. The Event Setup Tool allows you to track events by the buttons that are on your page or by URLs. Once you set them up, make sure you add those custom columns to your Facebook Analytics window to see the whole picture.
How Long And How Much?
Your ads could be perfect from the targeting to the creative. But consider the duration of the ad, as well as how much money is behind the campaign. The longer the campaign runs, the better it will perform. If you typically run ads for a weekend, you’re better off creating a boosted post than an ad.
When it comes to spending, while it is true you have to pay to play, it does not necessarily mean you have to throw an exorbitant amount of money on social advertising. You always want to make sure you’re spending enough depending on your location, the size of your market, the type of ads you are running, and based on the duration. That’s why in all aspects of social advertising, it is crucial to test to see what works, including ad spend!
Looking At The Overall Digital Strategy
Remember that your strategy does not start and end with social media advertising. You need to implement all digital so that they can work together to produce the results your company needs. Facebook and Instagram can provide that intent to shop! People can convert with Facebook as well. At the same time, the big picture is extremely important. They can see an ad on Facebook, but then see a Google ad that can lead them to convert. Another example is potentially remembering that ad the consumer saw on Facebook and might organically search the company on Google. With the assistance of SEO, SEM, and content creation, it can attribute to conversions and leads in different channels.