If you’re a small business owner starting out with digital marketing, you’re probably starting to think about advertising on Facebook. After all, consumer traffic equals sales. Facebook is a great place to start with several ways to advertise, understand your traffic and convert sales.
Posting on Facebook with no thought to its relevance, though, will take your business nowhere. You need to understand who your audience is and what content they want to see – that’s where analytics comes in. We’ve put together a guide here to take you through the basics of Facebook analytics.
This guide will touch upon pixels, creating adverts, insights and reporting. Let’s get to it.
What is a Facebook pixel?
You may have heard the term ‘pixel’ before. In a nutshell, a pixel is a bit of code that you install on your website. It allows Facebook to track what a user does after clicking on one of your adverts. What page do they land on? What other pages do they click on? Do they reach the checkout page? Do they buy anything and how much money do they spend? This information is vital to understand which adverts are successful in converting sales.
Adding a pixel is ridiculously simple – you can create and manage your pixels with one click from your business manager menu. Once you have added your pixel to your website, you can move onto creating your adverts.
Creating your Facebook adverts
Facebook do a great job of making their platform very user friendly and it requires minimal knowledge of how it works. This suits most small business owners as it’s something you can learn as you go with annotations and explanations available at each stage. You will likely have your objectives and content for each advert ready for testing.
So, a good place to start is with Facebook’s ‘Split Test’ option if you’re still working out which content and call to actions will work best. Otherwise you can experiment with images, carousels and videos and continue to refine your adverts to get the best possible click-through rate and conversion.
One important thing to note at this stage is the difference between the objectives of clicks and landing page views in your adverts. If an advert is optimised for clicks only, Facebook will place your adverts in front of people who are likely to click on the advert for whatever reason. Whether they are browsing, curious, or have a history of clicking on adverts. You will get a higher click through result for your advert if optimised in this way, but you will likely also have a higher bounce rate. (This means people who leave your website from the same page they arrived at before clicking to another page).
If your adverts are optimized for landing page views, Facebook will show your advert to people who have a history of waiting for the page to load. These people will spend time on the page you have sent them to, so they can actually browse what’s on it. You will get a lower click through rate from the advert because it is being shown to fewer, more targeted people – but you will get a higher quality of traffic. These will be people that read the content and browse your websites as Facebook knows who click on an advert to spend time on that page. You can compare the 2 sets of traffic to your Google Analytics data to dive much deeper into how the consumers behave and the quality of the traffic.
Ultimately, the way you structure your ads will influence your insights, so make sure you know exactly how they’re set up so you can derive insights correctly and make decisions.
Now, the fun stuff…
Instead of posting your adverts into a black hole and hoping it gets seen by the people, Facebook prioritizes content so that people see content that they are interested in.
Facebook insights helps you work with the algorithm to make sure you’re getting your content in front of the right people. The insights area gives you a top line overview of your performance, so you can keep an eye on the big picture to make sure you are growing in the right direction. This gives you the core information of page likes, post reach and engagement levels over a seven-day period.
As you monitor these results, see the changes in performance and establish trends – you can dig deeper into each section. The page likes look at things like net likes (new likes vs unlikes), where your likes came from (from your page vs page suggestions), and device type (mobile vs desktop) — and monitors the overall growth of your page.
The post reach addresses how many people see your posts on their newsfeed including organic and paid reach, how people engage with the posts negatively or positively, and lets you match the responses of your posts to the growth of your page over time so you can build on what is working and try and improve on what isn’t.
You then have other areas of insights that can give you plenty more information about your posts such as how people are arriving at your page from within Facebook or external sites, when your fans are online and looking at your content, how much of your videos your fans watch, and the type of people that are engaging/liking/visiting/sharing your content. All of this let’s you develop a better understanding of who your audience is and how to engage with them and convert them from Facebook fans to paying customers.
Facebook in-app analytics can be as top line or as detailed as you need it to be. It all depends on your needs, objectives, posting frequency etc. There are a couple of tools you can use to help see more data and understand how your consumers react to your content so better streamline their brand journey.
One of these is called ‘Event Source Groups’.
This is something that you create based on your objectives and data you want to see in one go. Without these event source groups, apps, pixels, offline events, pages etc all have different and unique IDs. When you create and event source group in your analytics, you are creating a group that allows you to track all these event sources in one go enabling you to see all of your data in the analytics.
This is very handy if you have multiple data sources that each contribute to the traffic and insights you want to learn from, so you’re not missing out on key information that will affect how you build your page and content going forward.
The meat and potatoes, though, is the Facebook’s relatively new turn-key omni-channel reporting platform: Facebook Analytics. This can get very intense and varied so as this is only a beginner’s guide we won’t go into too much detail. But essentially, Facebook Analytics offers you a birds eye view of your entire sales funnel, allowing you to break it down into different cohorts and track their performance across their entire lifetime.
It even allows you to create custom dashboards to track different business metrics. It’s the single best tool out there to manage your customer lifecycle from your Facebook Page, all the way over to your website, checkout & beyond.
One of our favourite reports is the customer lifetime value report which shows you how much each customer is worth to your brand over their entire experience with your brand over exactly that – their lifetime. It’s absolutely essential you know and track this in order to make affordable Facebook ads – aim to have your customer acquisition costs (CAC) be at least 2 or 3 times lower than your lifetime value.
Final Few Tips & Tricks
To finish up, here are a couple of things to bear in mind as you tackle everything Facebook has to offer. Once you have got a better understanding of your data, try these things to help you get more about of the insights and analytics you generate.
- Check the data: The data is always updating so pay attention to what is happening to spot any trends.
- Target posts to relevant audiences: Show your content to the right people who are interested in what you have to offer, not everything to all people as that never works.
- Download the Facebook Pages Manager App: It’s a great tool to monitor everything on the go, make small changes and keep track of what is happening.
- Use an easy to find page name: May seem obvious, but make sure you set your page URL to something easy to remember. Leverage UTM parameters to make your analytics & tracking more detailed and granular.
- Schedule your posts: You know when your audience is online, so post when they are there. Another one that seems obvious but does get overlooked!
Do you need more help understanding Facebook Analytics? Contact us today for a free, no-obligation consultation.