👍You’ve installed the Facebook Pixel.
👍You’ve decided on your campaign objective.
👍You’ve written the best copy possible.
👍Your ad is live!
Facebook gives you a tonne of data and stats to look at, and if you’re not experienced running Facebook ads, it can be a bit overwhelming and hard to work out if your ad is performing well. Most importantly though, it allows you to see if your ad is having problems and how to troubleshoot those problems.
When you have a good understanding of the data, then you can make smart, proactive decisions to get your Return on Ad Spend (ROAS) up! The higher that is, the more money you’re making from your ad which is really what this whole thing is about 💰💰💰💰
So, for simplicity, my suggestion is that you really only need to focus on these three key metrics.
How many people take the required action. With a lead or conversion campaign, this would be the people that are submitting their personal information.
➡️ Amount Spent
Speaks for itself really, this is the total amount that has been spent on this particular ad so far.
➡️ Cost per result
This is the amount of leads/results divided by the total Amount Spent. This is an important metric because we want the cost per result to be as low as possible. That said the acceptable range for this figure varies massively depending on your Return On Investment (ROI).
A lead for someone that wants to sell their house, for example, will be significantly more expensive than someone that wants a free course. However, the ROI will justify that more expensive lead.
If these numbers are working well, then job done! Your ad is performing well. 🎉🎉🎉
If they are not then we need to dig into a few more of the numbers:
This is how many people have seen your ad. If this number is high then it means your ad is just repeatedly being shown to the same people again and again. The closer this figure is to one, the better.
This is your cost per 1000 impressions. An important thing to note here is that an impression is just the number of times your ad has been displayed. If your frequency is high, then those impressions could just be the same few people being bombarded by your ad! A rough benchmark to aim for would be $10-$15, but again that can vary depending on what it is you’re generating leads for.
➡️ Relevancy Score
This will only show after 500 impressions. It is a score out of 10 and the average is around 6-7. If your ad is performing below 6 then this could be an indicator that the ad itself isn’t a great fit for your target audience. That said, if those three key metrics are delivering results then don’t change it! You’re getting the results and the return you want and that’s what matters, not creating the perfect Facebook ad.
I hope that helps clear things up! What problems do you have with your own Facebook ad data? If anyone has any questions or needs any help just leave a comment and I’ll see how I can help 😊