Regardless of how much you like your Facebook ad, you need to constantly analyze it in order to make corrections. Read my article if you want to know how effective your Facebook ads are!
Facebook automatically provides you with a large set of metrics. Some of them are really important, others give you a general impression. Within a day after the launch of advertising, you receive the first data for analysis.
When you look closely at the ad reports, you can see what worked and what didn't.
Let's take a look at what metrics you need to focus on to gauge the performance of your ad.
1.Real lead price
The first thing I want to draw your attention to is the price of a lead.
It is important to know that Facebook has the ability to choose what counts as a lead.
You can choose between one-page visit or one form filled and the lead price in these different situations would differ as well.
For example, we can receive 100 visits to the thank you page and count them as leads or we can receive 55 forms filled and count them as leads. The price would differ. You can check what is considered a lead either from Facebook settings or in CRM system
Second important point is that a mistake in a form filled can occur. In this situation we don’t have correct information about the lead but Facebook still consider it when giving a statistic.
How to check this on Facebook?
-Go to Event Manager
-Enter your website address
-And we see what events are configured on the page
-To check, go to "Testing Events" and re-enter the site address
-Click on submit an empty form and get an error
-Analyze your results
2.Look alike audience strategy
Based on experience, there is no more effective setting than showing ads to those audience who is similar to your customers. You can upload a database of customers who did purchase before with their emails or phone numbers.
To begin with, set the similarity coefficient to 1% - this way you will ensure that the audience is shown as similar to your customers as possible.
3.Divide into placements and sites
It is important to separate your ads into placements and sites, and not use automatic ad spots.
This is so you can see where the bids are cheaper. You can also create different formats of an ad for different display locations - feeds and stories in Instagram.
4.Conversions is more effective strategy
If you want to receive as many leads as possible instead of traffic to your website, then choose objective of your ad as "Conversions".
The "Conversion" strategy will allow Facebook to show more and more ads every day only to those who are more likely to leave a request.
These were the basic tips for better audit of your advertising activities. Now you know how to create ads, target and analyze the results of your ad campaigns.
Create advertising campaigns and do it effectively! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.
Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the CEO of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.