This blog post is part 1 of a 13-part series on '13 Steps to Becoming a Killer Facebook Ads Strategist.' This series is running weekly from June 9 - September 1.
Now that our ads have been running for at least a few days, it's time to look at some of our reporting to determine which ad is working best. We will go into Ads Manager to look at all the details. First, a word about KPI's. Key Performance Indicators allow us to align our objectives with reporting.
Your ad may be a way for you to drive traffic to your website so that you can retarget those people later for a new product. Let's say your budget for this may be $50 and you hope to get 1000 visitors to your website. You didn't make any sales or get any new subscribers, but the metric you are after (KPI) is traffic. Your next campaign may be to generate revenue from those 1000 people. Do you see how this works? What you pay attention to in the reporting process will be different each time.
I'm sending people to a webinar in the hopes they will learn so much from the class that they will want to purchase the entire program at $127. However, I know that I need to be patient and willing to spend money up front before someone buys from me. By sending them to the webinar to register, I will collect pixel traffic information as well as email addresses when people register. So I may be willing to spend a lot to get those first few sales, knowing that I will get to retarget an ad to them and nurture them through an automated email sequence.
The KPI's will help us save time and money. I'll have to determine how much money I want to spend on my ads before I stop them and test another metric.
Let's get started! You can see my ads are running and I've got some good basic information to look at. Amy's ad hasn't been running as long as the Small Business Ad and I also have a larger budget for the Small Business Ad as well. Amy's ad is only costing me $1.05 per click, so it would be easy for me to turn off the Small Business Ad if cost was the only metric I looked at.
But I want to look at other things as well. If I look at clicks as a conversion rate, I'll find that both of these ads are converting the same at a low .007% - not great! Also, my relevancy score is only at 1 out of 10 and these ads have a negative rating, meaning people may have hid my ad or just didn't take any action at all. Eeeek!
However, I still want to keep my ads running because I have had a total of 92 clicks to my webinar registration page. That tells me that there are some people interested in email marketing.
When I started my ad, visitors to my registration page from just organic reach through my social channels was at 159. Today, it's at: 322. This traffic isn't all from the ad of course, but I know my ad is creating traffic. I also have the Facebook Pixel linked to this webinar, so when I get up to around 1000 visitors, I can create another more detailed ad for the people who clicked over.
I have also had an increase in registrations for people taking the class, which means I now have their email addresses so I can continue developing a relationship with them. Yay! Inside my webinar, I also have a questionnaire asking people what their email list building goals are and which industry they are in. I've had more people fill out the Q since running these ads.
Even though I have some negative aspects to this ad, I'm going to keep running it and testing other audiences. I'll also need to test my registration page and make sure it makes sense and is attractive for people to want to join the class. There is so much to this, but knowing that I have everything set up properly, I'll be able to crack the code.
How about you. Make sure to track all the metrics that are important to you without getting overwhelmed. Strategically outlining exactly what you want your ad to do for you is essential in the overall picture of ads.
You are now a killer facebook ads strategist! Look at you go. Next week is the final post in this series and it's all about what happens when someone opts in, makes a purchase or attends our event as a result of our ads. See you then!