Why should you be using a dashboard to monitor Facebook Ads?
There is a wealth of insight hidden beneath your Facebook activity and it is in your analytics. The posts shared by users, the engagement garnered from followers, and the interactions on your ad copy all make up for data that you need to monitor.
By utilizing a dashboard like AgencyAnalytics you can effortlessly track everything you need. Accessing and monitoring your Facebook Ads campaigns in a single platform unifies jumbled up numbers and insights into an understandable piece. The platform will help you understand your audience better, assist you to create stellar strategies and reveal how well your campaign is doing.
We also have a Facebook Ads report template available if you'd prefer to send periodical updates to clients.
What's Included In Our Facebook Ads Dashboard Template
Conversions are the end goals of your Facebook advertising campaign after a prospect views and clicks on your ad. There are different forms of conversions and it all depends on your client's goal.
This metric generally involves the prospect clicking on call-to-actions (CTA) at various stages of the consumer's journey that you have mapped out. Facebook Ads can only track online conversions like website form fills or button clicks.
It is possibly the most important metric and helps you decipher important thing about the performance of a campaign.
Suppose you have a high CTR on your Facebook Ad CTA, but when visitors come on your landing page they do not convert. This will expose your landing page as the leak. Your next course of action would be to find out why your landing page CTA isn't pulling in conversions. Can you see how this metric reveals the problem?
2. Cost Per Conversion
Are your Facebook Ads paying off? Cost per conversion (aka cost per action) is the metric that will show you. It is one thing to pay for impressions or clicks but another thing entirely to be able to measure your costs in lieu of a specific action.
Generally it's important to set a cost per conversion that your client is happy with. Once you have that goal in mind it's important to constantly monitor and report this number to clients, so they know you're not over spending with their ad account.
How many times have Facebook users seen your ad? This is the query your impression metric will answer. It is important to note that impressions and reach are two different things. Your impressions data shows you the number of times users have seen your ad, even if one person has viewed it multiple times.
It does not just take into account unique views but the total number of views.
The impression metric is a crucial one to the success of your campaign because it gives you a clear view of how many times Facebook has displayed your ads to users. If your impressions is sky high but you have no clicks or conversions, you know you need to act.
Reach in FB ads refers to the number of Facebook users that have viewed your content. It's different from impressions as it only counts the number of unique user that see the ad, regardless of how many times they see it.
In order to know how well your marketing campaign is doing, you need to know how many people you have reached out to and what percentage of your audience have engaged with your offer.
Reach doesn't mean too much by itself but should be paired with other metrics to give you an idea of performance.
Ad frequency is a crucial Facebook metric that is ignored by most advertisers. It is the number of times each user (on average) has seen an ad. It's calculated as = impressions/reach.
If people are being served the same ad over and over again without engaging, you know it's probably a dud. Frequency plays a big role in how Facebook serves ads because they want to display as few ads as possible for the most number of clicks. If your frequency is high, FB is displaying your ads a ton to the same person.
You need to closely watch your frequency data on your dashboard. If you serve your audience the same ad continuously, you need to change things up.
A great way to decrease ad frequency is to serve numerous versions of your Facebook ads. Rework the visuals or write-up of each version.
One of the major goals of most FB ad campaigns is clicks. When people click on your ad, they're showing interest in your offer and may be on the path to convert.
The aim is often to get users to your landing page, but that's not always the case with Facebook ads. There are multiple kinds of clicks and each one denotes a different form of interaction. There are over 10 different types including: click to websites, click to call, maps clicks, etc.
When optimizing a campaign it's important to segment the different types of clicks. When reporting to a client though, you may just want to keep it simple and just display all clicks. It's easy to overwhelm clients with unnecessary information.
7. CTR (Click Through Rate)
CTR shows you the percentage of consumers who have viewed your ad (impression) and clicked it. It can be calculated as = Clicks/Impressions.
This is such an important metric to keep your eye on as it can affect your campaigns relevance score. If your Facebook ads are receiving impressions void of clicks, Facebook concludes that your target audience does not see your ad as relevant.
You need to ensure that your ad is being clicked, otherwise Facebook will stop serving your ad. Having a high CTR is vital for an efficient campaign.
A low click-through-rate, which is any percentage below the average Facebook Ad CTR of 0.9%, happens when your target audience is simply viewing your ad without taking any action.
The outcome of this is that you will end up paying higher for clicks and report a horrible ad performance.
So keep a close eye on CTR with your Facebook Ads dashboard and report improvements to your clients.
8. CPC (Cost Per Click)
CPC is your cost per click and can be calculated as = Cost/Clicks. Tracking your CPC metric is a crucial way to get the most out of your ad budget. It's one of the best barometers to see if your FB campaigns are becoming more expensive, or cheaper, over time.
When your ads gain impressions with low click-through-rate you will end up getting fewer impressions and higher CPC pricing. Without monitoring this metric, you can end up spending a fortune and still fail to meet expected targets.
Engagement reveals the number of times Facebook users took actions on your posts. These actions could be sharing your post, posting a comment, clicking a link or making a reaction.
Engagements show that your target audience approves of the ads that you're showing them.
The post engagement metric is also an excellent way to analyze the performance of different variations of your ads. If you are in the process of finding out what works best with your audience, this is a metric to keep a close watch on.
A post with low engagements tells you that your audience is searching for something else. Now, if the other variation gets high engagement, it's a pointer that the ad is a perfect fit for your target audience.
10. 3 Second Video Views
Unlike other video ad platforms, Facebook video Ads reports impressions only when users see the ad in motion.
With this metric, you can get data on your audience???s content approval, based on the 3-second view. Even though it generally takes multiple touches to convert consumers, this metric offers a first clue as to who to retarget and who to ignore.
It could also point to the fact that your video content needs reworking. If the majority of viewers are exiting after just 3 seconds, and not hitting 10 seconds, you know you need to fix something.