Meta: Without continuously tracking Facebook Ads metrics, you do not know which ads are doing well and which need to be improved or deleted from your campaigns!
7+ Key Facebook Ads Metrics You Need to Track
It is always said that one Facebook Ad cannot fit all audiences. You have to track your ads’ performance and learn lessons to optimize your ads over time. This is an important component to secure the success of your Facebook Marketing strategy!
Nonetheless, you obviously do not have the time and effort to keep an eye on all Facebook Ads metrics – here are 7 key metrics to consider!
#1. Cost per result (CPR)
The cost per result metric, as its name implies, determines how much money you are spending on a Facebook Ad to achieve a desired action from the audience, e.g. clicking a button to view more; signing up for your newsletters, or completing a deal.
Ideally, you should neither pay too much nor too little – the average value for all industries and niches is around $1.72.
#2. Ads impression
Defined by Facebook, an Ad impression refers to the number of times your ad instance appears on screen for the first time. If you check the Ads’ impressions, you have an idea of the audiences’ preferred viewing patterns to reach them better.
According to Databox’s report on Facebook Ads Benchmarks by Industry:
- Average impressions for B2B companies per month are 199.28K
- For B2C companies, the average value of Facebook Ads impressions is 245.22K
#3. Ads frequency
The frequency of Ads indicates how many times a single Facebook user sees your ad in a certain period.
Although it is an estimated metric – it means some audiences can view your business much more often than others, the report of Ads Frequency tells you how frequently you have to show your Ads to get them noticed and drive audiences to take action.
#4. Ads click
Whenever any Facebook user clicks your ads, they are interested in what your business is promoting and are likely to visit your website for actions.
The more clicks are better!
Just remember, an Ad click is not just a simple click. Facebook reports different types of clicks:
- Link clicks: how many times when users click on links within the ad and go to destinations on or off the Facebook platform
- Outbound clicks: the number of clicks that takes your Facebook Ad audiences off Facebook-owned properties.
- Click-through rate (CTR): the calculation of how many link clicks compared to the Ads’ impressions.
#5. Conversion rate
The conversion rate of Facebook ads is calculated by the percentage of link clicks resulting in conversion from your Ads such as a newsletter signup, a sale, or any other form of lead generation.
On average, the conversion rate should be around 10% or more to help run profitable Facebook Ads!
#6. Return on Ad Spend (ROAS)
The metric reveals the revenue coming from the Ads divided by how much you spend on your Ads. It will depend on the Facebook Ads’ profit margins. A higher return on Ad spend shows that your Facebook Ads are more profitable.
You can use an additional tool – Facebook CBO, to optimize your budget and spending!
#7. Relevance score
The relevance score on Facebook is a value on a scale of 1-10 that shows how effectively your Facebook ad is performing among your target audience based on three measurements:
- The quality ranking
- Engagement rate ranking
- Conversion rate ranking
After 500 impressions, Facebook will assign a relevancy value to the ad, with 10 being the highest.
In a nutshell
The above key Facebook Ads metrics are fundamental ones for you to customize metrics to evaluate your success on your campaigns!
