Are you using Facebook ads to promote your business? Are you seeing success with those ads?
If you find yourself frustrated by Facebook ads, you likely aren’t measuring the key metrics of your campaign and using them as a guide to alter your ads so they perform better.
I am going to give you some key statistics you should be measuring as well as some tips on how to improve your Facebook campaigns.
Tip #1: Measure the CTR and Relevancy Score of Your Ads
One of the most important metrics when it comes to your Facebook ads is Click Through Rate (CTR), especially Link Click Throughs. This officially means “the percentage of times people saw your ad and performed a link click.”
So when someone sees your ad (an impression), are they clicking through to your website/landing page or are they just scrolling past it in their news feed?
The rule of thumb is anything higher than 1% is above average. I generally shoot for 2% or above, but if you are below 1%, you need to alter your ad ASAP.
Either your targeting and demographics aren’t correct, or you ad’s creative just isn’t resonating.
You can access this key metric by going to your ads manager and clicking “performance and clicks” in the columns drop down menu.
The other metric you really want to pay attention to is the Relevancy Score. This metric can be found at the ad level of your campaign.
Officially, the relevance score is “a rating from 1 to 10 that estimates how well your target audience is responding to your ad.”
So, if you have a strong creative that is targeted to the right people, you should have a high relevance score. I aim for 8 and over when it comes to relevance score. When that number is high, Facebook will generally serve the ad to more people for a cheaper cost per result.
That means you need to utilize video, short and compelling headlines, call to actions and convincing text that catches people’s attention.
Remember, the relevance score won’t be calculated until you have at least 500 impressions on your ad.
Tip #2: Pay Attention to Who Your Ads are Reaching
Another great way to improve your campaign is to review the demographics of who your ad is reaching.
Facebook allows you to see the gender, age range and location of who your ad is reaching, as well as what platform and device they are seeing your ad on.
So, if you notice that your cost per result is significantly lower for 25-34 males vs. 25-34 females, then you may want to consider serving your ad to just 25-34 males.
If you see your ad is performing best on Facebook mobile news feed, but horrible on Instagram, you may want to edit your placements and uncheck Instagram from who your ad is going to.
Maybe you ad does a lot better on mobile (which is usually the case), so it’s worth it to shut off desktop placements.
By reviewing your demographics and what is working and not working for you, you can guide your current and future ads to perform better.
Tip #3- Peep Your Competition
Wouldn’t it be great to know what your competition is doing on Facebook? Fortunately, you can!
Facebook added the option to view every advertisers campaigns on Facebook. While you can’t see how much they are spending or who they are targeting, you can view the actual ad.
So, you can see if they are using video vs. image, short vs. long form text, what type of imagery, what type of call to action, etc.
This is invaluable information that can provide you inspiration for your ads and allow you to create better ads than your competition.
All you have to do is go to a Facebook page and click “info and ads” on the left hand column and if the page has any active ads, you will be able to view them.
I highly suggest utilizing this feature so you can see what the competition is doing and how you can improve on that.
These tips are meant to review the performance of your Facebook ad campaigns and use the knowledge to improve them.
Start utilizing the insights that Facebook provides to make smart decisions on your campaigns and ultimately see better results.
Visit www.smartypantzmarketing.com or e-mail me at email@example.com if you have any questions.