Facebook marketing is great with respect to its potential customer reach, however, it could be disastrous if you neglect the importance of monitoring the performance of your Facebook marketing. Chances are you might be investing a lot of time and money with little return. For this monitoring need, the website provides Page Insights for Facebook Page, and Ads Reporting for Facebook Ads. Page Insights tells you how many people saw, liked, commented on, and shared your page. The tool can be accessed from your Facebook Page’s Admin Menu. Ads Reporting tells your how many people saw your ad, and how much you have spent on it, etc.
Facebook also provides Conversion Pixel for monitoring the traffic from your Facebook ad to your
website. As you can see, Page Insight and Ads Reporting measuring the impact of your Facebook ad on the number of views. However, these tools cannot tell how many of these views really converted into business opportunities. To address the issue of over-reliance on clicks, you can place this code called Conversion Pixel on your website and your ad. The code will let you know the actions people take after viewing your ad. Conversion Pixel could also be use for ad optimization. You could use the pixel to study the conversion rate of different ad versions, and find out the one that is best for you.
After getting the data via the above tools provided by Facebook, you could then move forward to analyze the Return On Investment (ROI) of your Facebook marketing campaign. There has been some studies on this. One of them you might want to refer to is “Facebook Advertising / Marketing: Best Metrics, ROI, Business Value” by Avinash Kaushik.
Have you ever used any of these measurement tools? How do you feel it?
Kaushik, A. (2016). Facebook Advertising / Marketing: Best Metrics, ROI, Business Value. Retrieved from http://www.kaushik.net/avinash/facebook-advertising-marketing-best-metrics-roi-business-value/