10 Key Facebook Ads Metrics to Track
Facebook ad metrics, the be-all and end-all of Facebook advertising. It's the data that your clients are eager to know, as it will ultimately determine the success of their campaign. Needless to say, it's a pretty big deal.
When tracking your Facebook ad metrics, you’ll be able to understand the following:
- What are people doing after seeing your ad?
- How many users are actually clicking on it?
- What's your ad campaign's overall return on investment (ROI)?
What are Facebook Ad Metrics?
Ok, before we jump into the specifics, let's define what exactly Facebook ad metrics are. In simple terms, Facebook metrics are measurements used to track and analyze your Facebook ad's performance. These ad campaign insights can gauge its effectiveness and overall impact on your target audience.
Some of the most important Facebook ad metrics include:
- Click-through Rate (CTR)
- Cost per Click (CPC)
- Conversion Rate
- Cost per Conversion (CPC)
- Return on Ad Spend (ROAS) and more.
If you're new to Facebook advertising, don’t worry. We'll break them down for you and explain which ones to track and why.
What Type of Facebook Ads Metrics Should Should Track
Performance metrics measure the actual outcomes and impact of your campaigns, providing valuable insights into the tangible results generated from your advertising efforts.
- Conversion Rate
- Cost per Conversion (CPC)
- Return on Ad Spend (ROAS)
- Ad Spend
Engagement metrics measure how well your ads are resonating with your target audience, which include:
- CTR (Click-Through Rate)
- Engagement rate (Likes, comments, shares and reactions)
Delivery metrics provide insights into how your ads are being delivered and viewed by your target audience. The more relevant Facebook deems your ads, the more favorable they will be delivered and thus, you'll get a lower cost per result.
- Cost per Thousand (CPM)
Tracking these metrics provides a comprehensive overview of your campaign’s overall performance. Furthermore, metrics tend to go hand in hand, meaning that as one improves, so does the other. For instance, optimizing your Ads to reach more people will increase the number of impressions and potentially your CTR too.
Just remember that not all metrics are equally important for every type of campaign. For example, brand awareness campaigns would prioritize tracking engagement metrics over performance metrics.
Conversions measure the number of people who complete a desired action after seeing your ad, be it a purchase, sign-up or download.
On Facebook, you can track various conversion events, like:
- Purchase: This is when a customer buys something from your site.
- Lead: Someone might express interest in your product by filling out a form.
- Complete Registration: If your goal is to increase sign-ups for a webinar or a community, this is your conversion.
- Add to Cart: Even if they don't buy immediately, adding a product to the cart is a step towards conversion.
- Add to Wishlist: This indicates interest and could lead to future sales.
The average Facebook conversion rate for Facebook ads is 9.21%, across all industries. So any conversion rate higher than that is considered good.
CPC (Cost Per Conversion)
CPC tells you how much you are paying per conversion. It's calculated by dividing the total amount spent on the ad campaign by the number of conversions.
On average, CPCs on Facebook are around $0.30 to around $4. If you're hovering between $5 and $10, you may want to re-evaluate your targeting or ad creative.
Return on Ad Spend (ROAS)
ROAS measures your total ad revenue against the total ad spend or: Revenue / Ad Spend.
If you're earning more from your ads than you're spending, then your ROAS is positive.
For example, if you spend $100 on Facebook ads and make $500 in sales, your ROAS is 5:1 or 500%. Ideally, you want your ROAS to be higher than 1:1. That means for every dollar spent on ads, you're making more than a dollar in revenue.
A good ROAS can vary depending on your industry, advertising goals, and profit margins, but anything above 4:1 or 400% is considered a strong return. Some industries may have higher ROAS benchmarks, so always do your research and compare against others in your field.
Total Ad Spend
Ad spend refers to the total amount of money you've allocated for your ad campaign. This includes all costs associated with your ads, including ad creative services, and ongoing management fees.
Ideally, you'll always want to stay within your project’s budget. If you’ve gone over this amount, it's an indication that your ads aren't performing as well as they should be. Consider re-evaluating your targeting and ad creative to optimize your ad spend.
The goal for most Facebook ads is to get users to click on the ad. From there, it's up to you where you want them to go - your website, an app store page, a landing page for lead generation, etc.
If you find people are clicking on your ads, you're halfway there. It means your ad creative and messaging is compelling enough to get users' attention. But, if you're getting clicks and not conversions, it's time to re-evaluate your landing page or offer.
CTR (Click-through Rate)
CTR (Click-through Rate) is the number of clicks divided by the number of impressions, expressed as a percentage. And ofcourse, the higher the CTR, the better.
It's important to focus on CTR because it provides valuable insights beyond just the number of clicks. Sure,100 clicks sounds great, but if they were delivered to 10,000 people versus an ad that received only 50 clicks but was shown to 1000 people, the second ad actually had a higher CTR.
According to multiple sources, the average CTR for Facebook ads is around 0.9%. This number may vary depending on your industry, target audience, and ad creative.
Post engagement measures how many people are interacting with your ad, whether it's through likes, comments, shares, or clicks on the ad itself.
However, to get a better understanding of your engagement, you can use the engagement rate formula. This lets you compare the level of engagement your ad is receiving relative to the number of people who have seen it.
Engagement Rate (%) = (Likes + Comments + Shares) / Reach * 100
So if your ad has a reach of 1000 and received 50 likes, 10 comments, and 5 shares, your engagement rate would be (50 + 10 + 5) / 1000 * 100 = 6.5%.
This metric shows how well your ad is resonating with your target audience. Higher engagement levels indicate that people are not ignoring your ads, but are actively interacting with it. This can lead to increased brand awareness, website traffic, and ultimately conversions.
Impressions refer to the number of times your ad has been seen by users. This metric is important because it shows how many potential customers have been exposed to your adverts.
However, impressions shouldn't be confused with reach. Reach shows how many different people have seen your ad, while impressions show the total number of times it has been seen. So, if your ad has been shown to one person five times, that would count as five impressions but only one reach.
Impressions are particularly important among brand awareness campaigns targeting top-of- funnel audiences. The goal here isn't strictly to drive conversions but rather to introduce your brand to unaware potential customers.
CPM (Cost Per 1000 Impressions)
CPM refers to the cost of one thousand impressions. It's calculated by dividing the total ad spend by the number of impressions and then multiplying by 1000.
CPM allows you to compare different ad placement costs. If, for example, your ads are running on both Facebook and Instagram, you’ll see which platform is delivering the most cost-effective impressions.
Frequency refers to the average number of times a person has seen your ad.
This metric helps you determine whether or not audiences are getting tired of seeing your ad too many times. If frequency is high and you're not getting clicks, it may be time to refresh or rotate new creatives.
Facebook users can set an ad frequency cap to avoid showing them too frequently. You don't want to bombard potential customers with the same ad over and over again, as it can lead to ad fatigue and decreased effectiveness.
How to Track Your Facebook Ad Metrics
Now that you know what Facebook ad metrics to prioritize, how do you actually track them? The good news is that Facebook makes it easy with their Ads Manager tool.
To find your ad’s metrics, do the following:
- Log in and go to Facebook Ads Manager.
- Click on 'View charts' on your chosen ad campaign.
- Click Campaigns, Ad sets or Ads.
- You'll then be able to see visual representation of your ads performance and delivery
Alternatively, you can simply click on the 'Performance' column and select which ad metrics i.e delivery, Performance and clicks you want to view. You'll then see a breakdown of metrics for all ads in your ad account.
You can also customize your columns and choose which metrics you want to view.
Additional Tips to Track Your Facebook Ad Metrics
Consider these additional tips when tracking your Facebook ad metrics:
- Use third-party tools: Ad reporting tools like Metrics Watch, Ad Espresso, and Hootsuite offer automation features and other more advanced analytics features. They also provide periodic updates and suggestions for ad optimization.
- Compare metrics from different times: If you have long-running ad campaigns or previous ad campaigns with similar objectives, start to compare your metrics from different time periods. This will help you understand trends and make more informed decisions for future campaigns.
- Utilize UTM parameters: If you're directing traffic from your Facebook ads to a specific landing page or website, consider using UTM parameters in your URLs. This will allow you to track the source and medium of your website traffic coming from Facebook.
- Install Facebook Pixel: Make sure you install the Facebook pixel on your website to track your ads conversions. You'll also gain data on your website visitors and their actions, allowing you to create custom audiences and more targeted ad campaigns.
- Monitor your metrics regularly: Don't wait until the end of your ad campaign to check your metrics. Check them throughout your campaign’s duration to make any adjustments in real-time.
- Set benchmark goals: It's important to have a baseline for your ad metrics so you can track and improve over time. Set realistic benchmarks based on past performance or industry standards.
- A/B test your ads: Don't settle for just one ad design or copy. Use Facebook's A/B testing feature to test different variations and see which performs best.
- Prioritize your metrics: Remember that your ad objective determines which metrics are most important to track. Don't get overwhelmed by trying to track every single metric, focus on the ones that align with your campaign goals.
- Use automated rules: Facebook offers a feature called ‘automated rules’ which allows you to set certain conditions for your ads. These include pausing or increasing budget when a certain metric is reached, allowing you to save time and optimize your ads for better performance.
Summing Things Up
Facebook ads aren't going anywhere anytime soon, so it helps to know which metrics to track to optimize your ad campaigns. By focusing on the metrics in our list, you'll know how your ads are performing and what changes you can make to improve their success.
Remember to regularly monitor your metrics, set realistic benchmarks, and use Facebook's tools to your advantage. With these tips in mind, you'll create effective and successful Facebook ad campaigns in no time!
Frequently Asked Questions
What metrics do Facebook ads measure?
Some of the key metrics that Facebook measures for ad campaigns include impressions, clicks, click-through rate, cost per click, cost per impression, conversion rate, and return on ad spend. However, Facebook can also track video views, landing page views, engagement rate, frequency, reach, and other metrics not mentioned on our list.
What are the most important Facebook metrics?
The most important Facebook metrics to track will depend on your campaign objectives. As a general rule of thumb, you should monitor click-through rate, cost per click, conversion rate, and return on ad spend as you’ll gain a well-rounded understanding of your ad performance with these metrics.
How frequently should you monitor your Facebook ads metrics?
The frequency of monitoring your Facebook ads metrics will depend on the length of your campaign and its goals. If you have a short-term campaign with a specific goal, it's best to monitor your metrics daily or at least every couple of days.
For longer campaigns, weekly monitoring may be sufficient. However, if you notice any significant changes in your metrics, you should check in more frequently thereafter to see if that trend continues.
How do I see my impressions on Facebook?
You'll find ad impressions in the campaigns tab after going to your Ads Manager. From there, you'll have access to a wide range of metrics to view, including impressions. If your impressions are on the rise, it indicates that your ad has been optimized to reach a larger audience.
What is the ROAS metric on Facebook?
The ROAS metric on Facebook stands for "Return on Ad Spend." It measures the amount of money earned from your ad campaign compared to how much you spent on it.
A good ROAS for Facebook ads ranges somewhere between 2X to 4X. This means that for every dollar spent on ads, you can expect to earn $2 to $4 in return. However, the optimal ROAS will vary depending on your industry and campaign goals.
What is the KPI for advertising?
KPIs in advertising are Key Performance Indicators, which help measure the success of an advertising campaign. These vary depending on your campaign's goals but can include metrics such as impressions, clicks, conversion rates, and return on ad spend.
What is an example of a KPI for Facebook?
KPI examples on Facebook can include your total number of ad clicks, the number of post likes and reactions your ad received and how many people your ad reached, and so on. These metrics and more can help you track the performance of your Facebook ad campaign.
Why is it important to track Facebook ads metrics?
Tracking Facebook ads metrics allows you to see your advertising campaign’s performance in real-time. If your metrics are improving, it shows that your Facebook ads are well-optimized and deemed relevant by Facebook.
Just remember that your bottom line is to get a good return on investment (ROI) for your Facebook ad campaigns. While receiving a high CTR or a high number of impressions are great signs, it doesn't necessarily translate to a profitable ROI. That is why it's crucial to track and analyze various metrics to ensure that your Facebook ad strategy is effective in achieving your overall business goals.