The good news is that Ads Manager has ALL the data you could ever need to analyze the performance of your campaigns.
And the bad news?
Making proper sense of all these metrics is confusing…
How do you know what to look for?
Which ads are doing well and which ones are struggling?
And perhaps most importantly, how to use these metrics to diagnose specific problems all throughout your funnel?
These questions have a bigger impact than you probably think – and not understanding the true meaning behind your metrics can easily make or break the profitability of your campaigns, and even warp the reality of what’s truly going on with your ads…
On the other hand, properly analyzing Facebook Ads data within Ads Manager can definitely empower you to confidently make data-driven decisions and grow your business to new levels!
So to make things easier, I like to group various metrics based on the RELATIVE importance they each play at every step of the sales funnel.
This way, it’s easier to know exactly what to focus on primarily for each campaign.
And thus, we have:
-cost per video view (3-sec, 10-sec video views, thru-plays)
-cost per messenger sign-ups
-relevance score (1-2 bad / 3-6 okay / 6+ great) → the higher this is, the lower the CPC & higher the click-through rate
IF problem –> Improve ad copy, creative, or audiences
MIDDLE-OF-FUNNEL METRICS: these are all about driving site visitors
-cost per click (spend/unique link clicks – Avg $1-4.
In 2018, this was $1.72)
-click through rate (unique link clicks/impressions – Avg 1-2%)
-cost per lead (spend/leads – Can range from $5-75 PER lead)
-lead form conversion rates (leads/lead form visitors – depends on the landing page)
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Let’s start with the absolute basics. Visual salience is defined as “The distinct subjective perceptual quality which makes some items in the world stand out from their neighbors and immediately grab our attention.”