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Running online advertisements through Facebook Ads Manager, also known now as Meta Ads Manager, is a powerful way to reach your target audience. However, to maximize the effectiveness of each ad, you must utilize the available data and spend time analyzing your results. Understanding these metrics and insights are the best way to help you fine-tune your digital campaigns, optimize your business budget, and ultimately achieve the best results. Let’s get started!
Get back to basics
Strategic approaches work best when they begin from the ground up, which is why you should go back to basics when navigating how to approach future Facebook (Meta) campaigns. Start by taking a look at key performance indicators (KPIs) like reach, engagement, clicks, and conversions. These offer a broad overview of how well your campaign is performing.
Dive into the demographics
Believe it or not, Facebook (Meta) provides incredibly valuable insights about your audience. Elements such as age, gender, location, and even the device used when viewing the ad can all be found in the data that displays demographics. Once you identify which segments are responding most often and most positively to your ads, you can tailor future campaigns to appeal to these audiences.
Assess engagement metrics
Engagement metrics such as likes, comments, shares, and click-through rates (CTR) offer great insight into whether your ads are doing well. High engagement means that your content resonates well with your audience. However, if these numbers are low, consider this a great opportunity to tweak your ads to be more creative or display a better message.
Conversion tracking
Conversions for Facebook (Meta) ads refers to elements like the percentage of link clicks from website visitors that resulted in a purchase, signup, or any other form of lead generation. Tracking these types of conversions allows you to better manage the effectiveness of your ads and what’s driving desired actions.
Take another look at ad placement
Facebook (Meta) offers various ad placements, including within a user’s news feed and stories. Take some time to determine which spot will deliver the best results for you by running a campaign in each section and comparing. Then, allocate your budget accordingly based on these insights.
Cost-per-click versus cost-per-conversions
Analyze your ad costs in relation to clicks and conversions. Calculate your cost for each click and cost for each conversion to understand how efficiently you’re spending your budget. This data will help you to make adjustments where needed to best optimize your ad strategy.
Review ad schedule
Spend some time examining which days and times your ads perform best. If you notice a huge difference between engagement and conversion rates during certain times, consider adjusting your schedule through Facebook Ads Manager to maximize results during those peak times.
Analysis is a critical part of revamping your advertising strategy. When you regularly review your ads results, you’re more empowered to make data-driven decisions, optimize your campaigns, and achieve a better return-on-investment (ROI) on your advertising spend. Trek Marketing can help you with all of the above and more.
Are you ready with everything you need to better analyze your Facebook ad results? Drop a comment below if you have any pressing questions.
Alex Wilks has been working as a copywriter and digital marketing strategist since 2018, with added specialties in social media and email marketing. With a Bachelor’s Degree in Journalism and Communication, she is a natural content writer with the ability to connect well with her target audience.