Understanding Metrics and utilizing it for expansion

The valuable metric for a reach campaign is the cost per 1,000 people reached.

Traders need to ensure that frequency remains low and should be constantly evaluating relevance and quality scores for ads as Facebook will heavily leverage these creatives over others.

The better the score, the more likely Facebook will favour it and attempt to serve it to as many eyeballs as possible.

1. Understanding Metrics and Determining Insight

2. Strategy, Strategy, Strategy! Awareness Generate interest in a customer’s brand, product or service Consideration Get users thinking about or looking for further information about the customer’s brand, products and services Conversions Encourage users who have already considered the customer’s brand to purchase or use that product or service

3. Funnel Breakdown Brand reach Brand awareness Brand engagement Video views Website traffic Lead forms Connections through messages Responses to a Facebook Event Capture leads Capture sales Awareness Consideration Conversion

4. Awareness Objectives BRAND AWARENESS Brand awareness is just Reach’s weird cousin from Mortdale that we don’t really talk about… REACH Benchmarks: CPM: $4.07 CTR: 0.073% The valuable metric for a reach campaign is the cost per 1,000 people reached . Traders need to ensure that frequency remains low and should be constantly evaluating relevance and quality scores for ads as Facebook will heavily leverage these creatives over others. The better the score, the more likely Facebook will favour it and attempt to serve it to as many eyeballs as possible.

5. Consideration Objectives TRAFFIC Benchmarks: Cost per click: $1.03 CTR: 1.069% Cost per landing page view: $2.09 Depending on the trader selected optimisation point, the main performance metric for traffic campaigns is either CPC or CPLPV . Be mindful when judging the success of creatives under traffic, having the lowest CPC does not necessarily mean it is the best performing. We need to take in to consideration the amount of impressions served as well. If a creative has the largest impression share with a CPC slightly lower than others, it is still deemed one of (if not the) best performing ad due to being favoured by Facebook. When making this conclusion evaluate quality and relevance score as well.

6. Consideration Objectives ENGAGEMENT Benchmark (low sample size): Cost per engagement: $5.73 CPE is the main area to look at for this campaign. ‘Engagement’ is expressed by people commenting, reacting, sharing, or clicking on an ad (not video views). VIDEO VIEWS Benchmarks (low sample size): Cost per 1,000 video views: $36.34 CPM: $22.19 CTR: 0.03% CPC: $1,818.52 The cost per 1,000 video views is obviously the most important measure. A video view needs to be 3 seconds long in order to qualify.

7. Consideration Objectives LEAD GENERATION Benchmark: Cost per lead form fill: $76.57 Lead generations are renowned for their quantity of leads vs. conversions which are known for their higher quality. MESSAGES No benchmark. Cost per message response is the valuable metric (users click on the ad and are greeted with an automated message, they are then required to respond with their own message to be measured as a result). Timing is an extremely important factor in this ad type.

8. Conversion Objectives CONVERSIONS Benchmarks: Cost per main conversion/acquisition: industry specific - ranges from $65 - $1,200 Cost per click: $2.54 CTR: 0.698% CPLPV: $4.57 These are the main driver of tangible results for clients. The main focus is always on the cost per conversion. It’s better to serve 1,000 really expensive impressions that drive excellent results vs. 100,000 cheap impressions to less valuable audiences unlikely to provide results. Ad copies should be attention grabbing and have succinct messaging without looking to sales-y.

9. Conversion Objectives CATALOGUE SALES No benchmarks yet, but similarly to conversion campaigns it can fluctuate depending on product, industry, CRM and market forces. The important metrics to look at are cost per purchase and return on ad spend (ROAS) . It is also extremely important to evaluate the purchase value of each completed purchase as well. Is it better to have five $100 purchases or one $1,000 purchase? Catalogue sales work dynamically, showcasing product specific info.