What Facebook Ads metrics and KPI’s are most important for your Facebook advertising campaigns?
Well, I’m going to break down which metrics and which KPIs we track and measure no matter whether we’re working with eCommerce clients or lead generation clients.
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If you’re running Facebook ads right now and you’re wondering which metrics and which KPIs matter the most, then stay tuned, because I’m going to dive in and show you everything you need to know and that you can set up so that you get the best results and the best information all the time from your Facebook ads.
I’m going to show you how to set that up in your ads manager so that you can see all the columns you want and all the data that you need to make those important decisions on which campaigns are performing and which aren’t.
Plus as a bonus, I’m going to show you this little hidden gem that we use all the time in the agency so that we can track and review historical changes so that we can see how our ads are performing over time and compare different time periods.
We use all of these strategies and setups in the agency when we’re managing our own clients, so you’re going to learn the best practices that we’ve employed and that we’ve set up so that you can have the same success. In this video, I’d like to cover both eCommerce and lead gen.
So first of all, let’s dive into the eCommerce set up for your metrics and KPIs that matter the most.
Okay, so the first step for eCommerce, let’s dive into your ads manager and look at the campaign level. Now, the columns that are shown here contain what we believe are the most important KPIs to track, measure, and report on.
So these columns that you can see here are reach, frequency, purchases, the purchase ROAS, or the return on the ad spend, the purchase conversion value, the cost per result, the amount you spent. We also include the unique link clicks, the cost per link click, the unique click through rate, unique add to cart, the cost per unique add to cart, and the CPM, or the cost per thousand impressions.
Now, for lead generation, it’s a little bit different.
So let’s dive into the column set I think you should set up if you’re running lead generation campaigns.
The columns for lead generation campaigns that we use are reach, impressions, frequency, the results, the cost per result, the amount spent, the CPM or the cost per thousand impressions, link clicks, the cost per link click, and the click through rate on the links.
Setting up columns in Facebook Ads Manager
Okay, so now we want to set up those columns in your ads manager, and it’s actually pretty simple to do, and there’s a way to save it as a preset so that you don’t have to keep doing it every time you log into Facebook.
All you need to do is simply come into your ads manager, click on the columns dropdown, then click customize columns. From here, you simply want to select all the columns you want showing and using drag and drop with your mouse, you can reorder the columns in a way that best suits you.
So some of the metrics also allow you to see the difference between your unique, your costs, and your unique cost. So when it comes to items for eCommerce as an example where we look at adds to cart, we like to use the unique adds to cart and the unique cost to adds to cart because it just gives us more accurate data. Once you’ve got your columns how you want them, simply click the save as preset checkbox and give the preset a name.
Then hit apply and you’re done.
Now all your columns are showing exactly how you want them.
Okay, so I said I was going to share a bonus with you. This is what I was talking about…
You probably already know how to set your date range so that you can see the last week or this month or a specific date period. But did you know that you can also compare results for the previous period?
To do this, you simply click on the date range, then choose the date range you want, then toggle the compare switch at the top and press update.
Now, each column has a little arrow next to it so that you can expand the columns to see the comparison between each period.
This lets you analyse trends to see if campaigns are improving or declining. And it’s also really helpful if you’ve done seasonal offers or perhaps shopping events or Christmas or some kind of event that would have changed your data over time.
So I really hope you liked that look into the Facebook ads KPI, how to set up the metrics and how to view the dashboard so you can see the metrics that matter for each campaign type.