What are the best KPIs on Facebook Advertising?

We will cover high-level KPIs in social media marketing (Facebook in particular) for managers and business owners in this article. 

We hear these questions a lot:

  • How do I know that our campaigns generated the right results?
  • How do I measure our campaign’s success? 
  • Which KPIs do matter?

Social media advertising is one of the best ways to reach out to your potential customers. But, you have to remember that when it comes to social media, you need to use different tactics and approaches compared to search engine marketing. 

   In search engine marketing, we will work on the search terms, and learn to use highly targeted phrases as our main keywords. We’ll get there by understanding the customers’ intent

facebook-ads-vs-google-ads

In social media, we will follow a different approach. We will try to understand our ideal customers’ behaviours and interests. We will try to fulfill the human entertainment need. We have to remember that people come to social media to communicate with their friends, find out what’s happening to their favourite celebrities and have a good time. 

When we show them an ad on social media, we are using interruptive marketing techniques to get attention. And it is not an easy process if we do not respect their wishes. 

We don’t want to go too deep into how we can create more engaging ads and what can help us have more effective advertising. We want to review the KPIs, which will show us if we are going in the right direction, or if we have to stop and revisit our process.

We use social media, based on Facebook suggestion, for 

  • Awareness
  • Consideration
  • Conversion
facebook-objectives

If you accept this simple categorization, it would be easy to imagine the funnel that these three steps will design. This funnel will define your customers’ journey. Although it doesn’t mean that every one of your customers will follow the same path.

Step one: Awareness

awareness

We use awareness campaigns to generate better and faster custom audiences. It means that their job is not selling any products. They will send traffic to your selected URLs, or they will generate more engagement with your Facebook Page. 

The results of these campaigns would be the best audience for retargeting. But how do we know that they are successful?

You can measure the success of any of your advertising on two different platforms with different aspects: Google Analytics and Facebook Ads Manager. 

Facebook Ads Manager KPIs:

  • Impressions
  • Reach
  • Cost Per Results
  • Post Comments
  • Post Shares
  • Link Clicks

And on Google Analytics:

  • Bounce Rate
  • Pages / Sessions
  • New Users
  • Avg. Session Durations

These are high-level KPIs that you have to review in Brand Awareness Campaigns. If you start retargeting (Consideration) campaigns after this step,  you can measure the quality of new audience lists much better. 

Step two: Consideration

consideration

At this stage, people know the brand and its services. You want to get more close to your potential customers. Offering them a case study, an infographic, a small episode of your training programs, a feature of your software solution, a test product, and some items like these could be part of the plan. 

You can design a specific landing page for any offer that you want to give for free could be a great idea. Sometimes even you can move one step forward and ask for basic information like an email address or a phone number. 

You will try to make trust, give potential customers to test our product or services. You will provide them with the opportunity to learn more about the way that you do the job by sharing case studies with them. And again, we try to gain their trust. 

Facebook Ads Manager KPIs:

  • Reach
  • Cost Per Click/Lead
  • Number of Clicks/Leads
  • CTR

And on Google Analytics:

  • Conversions
  • New Users

The goal at this stage is the number of requests. It is not final sales, but you can use it as an indication that shows you how people react to your messaging and your offers. These campaigns will help you to adjust your messaging and go to the market strategy to reach better customers and step three.

Step three: Conversion

goal-conversion

You sent people to different pages at stages one and two. You created different audience lists which help you to target better and more accurate. Now, it is showtime! 

You need to achieve business goals at this stage. You drove people from top to down to meet your business goals. And remember, as Facebook says, “testing what works, focusing on the goals and outcomes that mean to your business and using the insights you’ve learned to inform future strategies.”

Facebook Ads Manager KPIs:

  • Reach
  • Cost Per Lead
  • Number of Leads
  • Conversion Rate

And on Google Analytics:

  • Conversions

The last, not the least: Campaign Optimization

Optimizing is an ongoing process. You need to have a clear understanding of your plan and what you want to achieve. Allocating a small part of the monthly budget to test new features, new audience lists, and new messaging could be a good idea. If it works, you can scale it, and if not, you can learn some valuable points to apply to the other campaigns. 

Now that you know what you want to accomplish, you’re required to understand how to measure your success. Your campaign objective tells Facebook Ads Manager which results are relevant to you. The right objective will help Facebook to better understand the goals you want to achieve and help you get the most out of your investment.

And remember that all the KPIs that we mentioned here will help you at a high level, to see if your campaigns are generating the results that you want or not. These KPIs are not the optimization elements; they are designed to help you track your campaigns. 

When it goes to optimization, digital marketers know how to keep eyes on the factors that they need to track after any optimization to help them meet the final goals. They know which tools they need to function faster and more accurately. They understand how the auditing process needs different KPIs in comparison with the optimization process.