There’s no denying that likes, shares, and 5-star reviews can make you feel good about the efforts you’re putting into your business’s online presence. The currency of social media, these so-called “vanity metrics” can be critical indicators of whether your hard work’s paying off.
That said, you can’t rely on vanity metrics alone, especially when you want useful insight into how to shape future marketing and business decisions. Smart WSI Marketing is a Facebook ad management company that can show you how looking beyond vanity metrics ensures your marketing efforts are as successful as you need them to be. Call us today to learn more!
Vanity metrics typically appear great on paper and therefore imply growth and success. Common vanity metric characteristics include:
None of this is to imply vanity metrics are pointless, but it does show that how you use them is what makes the difference in your digital campaigns. If you want your Facebook Ads to produce better audience engagement and increased sales, a Facebook ad management company can help you leverage and understand more meaningful metrics.
Actionable metrics relate to specific business actions with observable results. They enable digital marketers and Facebook ad management companies to align marketing efforts around the metrics that help brands meet their unique business objectives.
As relying on vanity metrics alone can lead to short-sighted decision-making and diminished returns, you need to look for other ways to gauge Facebook Ad performance. Tracking these five metrics is a good start to getting the most out of your digital campaigns.
The Facebook Ads conversion rate is the percentage of click-throughs to your website that result in a conversion, including a purchase, download, or other forms of lead generation. Calculated by dividing conversions by the total number of link clicks and multiplying by 100%, it’s often measured together with other key performance indicators (KPIs) like cost-per-click (CPC) and impressions. It also shows your Facebook ad management company how well your ad is connecting with your target audience and the conversion rate achieved within the demographics you’re reaching.
The frequency metric indicates how many times an ad was viewed, on the average, by an individual. For instance, a frequency of five means that, on average, each person who’s viewed your ad has seen it five times. Experts consider the best Facebook Ad frequency to be three to eight times.
ROAS is the amount of earned revenue for every ad dollar spent. It measures the effectiveness of your Facebook Ad campaigns and is computed by dividing the revenue earned by the total amount spent on a campaign. So, if you spend $3,000 and earn $15,000, you’ve made $5 for every $1 you spent and achieved a five-to-one ratio. A good ROAS for Facebook Ads is between two and four times, but the figure can vary greatly depending on industry, ad placement, and other factors.
Cost-per-click (CPC) helps determine how much each click in a pay-per-click campaign costs your business. Many factors affect the CPC rate, including the ad platform, type of keyword, industry, and more. If a CPC rate is high but your returns are low, it’s possible your Facebook ad management company is targeting the wrong keywords. It could also be a matter of irrelevant ad copy messaging. Either way, it signals something’s not working.
A click-through rate (CTR) is the ratio between the number of people who click on your ads and the amount of time the ad was shown. It measures an ad’s efficiency and effectiveness, keyword relevancy, and traffic drivers. Optimization can directly impact CTR, while impressions and clicks depend primarily on a searcher’s behavior and your ad budget.
Also referred to as cost-per-conversion, the cost-per-action (CPA) represents the price you pay for each action users take on your website because of your Facebook Ad. Typical actions include purchases, app downloads, sign-ups, and other conversion tactics. By tracking user interactions, your Facebook ad management company can optimize your ads so they get as many conversions as possible within your budget.
Of course, these five metrics aren’t the only ones that matter, but they’re a good place to start when you want to gain greater value from your Facebook Ad campaigns.
While many SMBs choose to manage their Facebook advertising internally, a Facebook Ad management company like Smart WSI Marketing has the expertise and experience needed to create campaigns that deliver significant financial results. They can also save you money over the long term and free you to concentrate on what you do best: running and growing your business.
Schedule a consultation with us today to learn more about how we can add substantial value to your Facebook Ads campaign strategies.
Lynne is known for her strategic approach to marketing communications, technologies, and lead generation. She has a passion for education, keeping up with current marketing trends and practices, and helping clients keep ahead of their competition.
You’re a busy business owner. You've got your website up, your social media buzzing, and your products or services are top-notch. But how do you know if your digital marketing efforts are actually paying off? Enter the world of digital marketing analytics for small businesses Read More…
An Owners Guide to Leveraging AI to DIY Your Digital Marketing Strategy for Local Small Businesses
The use of AI in digital marketing is definitely on the rise, and it’s a trend that you’ll need to get on to keep up with your competitors. Below is a list of AI tools that we have researched and tested, and how they can fit into your digital marketing strategy. Read More…
Having a well-defined and tailored digital marketing strategy is essential for the success of any small business. With the right approach, you can effectively reach your target audience, drive traffic to your website, and ultimately increase your conversions and sales. Read More…
These days small businesses rely heavily on effective marketing strategies to thrive in a competitive marketplace. To make informed decisions, it's crucial for these businesses to understand what is working and what's not when it comes to their marketing efforts. Read More…
Are you looking to enhance the online presence of your small business and gain recognition in your community? Look no further! In this in-depth guide, our local search engine optimization company will break down the process of local SEO, focusing on critical components such as Google My Business listings, local keywords, and review management. Read More…
Unleashing the Power of AI: Transforming the Future of Marketing and Communications
The Alberta Machine Intelligence Institute (AMII) recently organized an event exploring the profound impact of Artificial Intelligence (AI) on the future of marketing and communications. Let’s delve into our key takeaways from the event and discuss the potential of AI in shaping the future of marketing and communications. Read More…
How a Full-Service Digital Marketing Agency Leverages Web Design to Increase Your Marketing Returns
It’s not unusual for business owners to think of their websites as mere sales tools. However, your website’s design has an incredible impact on people and profits in ways that go far beyond selling your products and services. Read More…
Why You Shouldn’t Ghost Your Digital Marketing & Advertising Company
When businesses hit a financial rough patch, one of the first spending cuts many make is marketing and advertising. While it can be an
effective short-term solution for freeing up money for other needs, it’s also a gamble with potentially costly consequences.
Are the Robots Coming for Digital Marketers?
The robots are not taking over! Not yet anyway. We’ve spent some time with ChatGPT in particular to learn just how much this AI tool can actually do and how we can leverage it. Read More…
