New month, new Evolve with Envida! In this lesson, we’re going over ads and reporting vocabulary, and how we use metrics to monitor our campaigns.
What You’ll Learn:
- Identifying key performance indicators (KPIs) to monitor engagement
- The importance of measuring ad performance
- The power of targeted advertising
How to Identify Key KPIs on Facebook
- Page Likes – the number of users who have liked your page.
- Post Reach – the number of unique users who have seen a specific post that you put out.
- Impressions – unlike reach, multiple impressions can be counted for one user seeing your piece of content multiple times, so reach is more unique.
- Engagement – the number of reactions, comments, shares, and views that any piece of content receives.
- Video Views – the number of times users have viewed your video.
- Post Engagement – the number of reactions, comments and shares on a specific post that is put on your page.
- Demographics – age, gender, location, language, certain interests, or behaviors that your target audience might be exhibiting.
The Importance of Measuring Ad Performance
These are the 11 major KPIs that we measure to determine success for a specific campaign:
- Reach – the number of unique users who have seen your ad.
- Impressions – the total number of times your ad was shown.
- Clicks – the number of times someone clicked on your ad. This can be clicks on the text, the image, or link clicks. Even clicking on the comment section, Facebook will count it as a click.
- Click Through Rate (CTR) – the percentage of people who saw your ad and clicked on it.
- Cost Per Click (CPC) – the average cost you will pay for a click on each ad.
- Leads – the number of times people took a desired action. In our case, the desired action would be filling out an interest form after clicking on one of our ads.
- Conversion Rate – the percentage of people who clicked on your ad and completed a desired action, whether that’s landing pages, an interest form, signup forms, etc.
- Cost Per Lead (CPL) – the average cost you will pay for each lead.
- Engagement – the number of reactions, comments or shares that a specific ad received.
- Frequency – the number of times your ad was shown to each person. You want your frequency to be between 1 and 2. Anything above that is going to result in spamming the target audience, which will lead to lower ad quality and fewer clicks.
- Cost Per Thousand– the cost of reaching 1,000 users or viewers.
The Power of Targeted Advertising:
The power of targeted advertising lies in its ability to deliver personalized and relevant messages to potential customers. By doing this, communities reach their target audience more effectively, increasing engagement and conversions, and ultimately driving business growth. We use targeted advertising to deliver relevant, useful ads to our target audiences that we think will pique their interest and that they might act on. Targeted advertising also helps you avoid spamming your audience and wasting marketing dollars on an audience that might not be interested in the ad.