We all know that Facebook is a great way to connect with your customers and even acquire new ones. But, if you can’t see the effect of your brand’s Facebook page, it can feel like posting into the void.
The first step to improving any marketing process is to measure it. This gives you an idea of which of your posts are performing well, which ads are giving you the best return and how to improve your results.
In this article we’ll be going over the most important metrics for Facebook and why they matter for your business.
Table of contents
- Page likes and vanity metrics
- Link Clicks – Click Through Rate (CTR)
- Cost per action (CPA)
1. Page likes and vanity metrics
To start off, it’s important to know what metrics are NOT so important on Facebook.
It can be easy to get caught up in the number of people following your page and how many likes each post gets . This is normal as it is the most visible number on your profile and if your competition has a few thousand page likes – you’ll want the same.
However, over the years the ability to game the system with bought likes has diminished this metric. As a brand, your objective on social media is to generate leads and make money. This could be through promoting your products, creating leads or increasing brand awareness and moving customers down the sales funnel.
None of this is achieved by getting a large un-focused following through gimmicks, unrelated content or the ultimate faux-pas bought likes.
Straight off the bat, the number of page likes or post likes are only relevant if they are interested in doing business with you.
The reach of each post is the number of users who actually see your content.
Since Facebook’s algorithm update a few years ago, it can be hard for brands to organically be seen by large numbers of people, without paid ads. This can limit your dreams of going viral with great content alone but reach is still an important metric to take into consideration. This is because it can give you clues as to when the best time to post is, what kind of content is relevant to your audience and who is looking at your content.
In the Insights menu you can see reach under “posts”. It will display your organic/ paid reach and whether your posts were viewed by fans or non fans.
If your reach is low this could be because your content is not relevant to your target audience or you need to do more to publicise your page. High quality and consistent posts will improve this metric.
Engagement is an important one to consider when marketing on Facebook as it represents the amount of people who actually take an action on your posts. This could be liking, commenting, sharing or even zooming in on a picture or pressing play/pause on a video.
The reason this is so important is that posts with high engagement will rank higher in the algorithm and therefore be served to more users. This is because for Facebook, high engagement equals quality content.
You can take engagement alongside the post’s reach to identify what really works with your audience. For example, a post with high reach but low engagement would indicate a lot of people just scrolling past. Not what you want with your content that took time and effort to make and promote. There are a number of ways to push engagement:
- Questions: Ask your audience what they think about something or try and spark a debate with an opinion. Careful not to alienate people or that will work against you.
- Host competitions: Give some exposure for your products by offering a competition or giveaway and encourage answers in the comments. Be sure to check the competition rules to make sure you don’t run into problems. And steer clear of ‘tag a friend’ competitions because Facebook is known for downgrading these in the algorithm.
- Call to action: If you want your audience to click a link or play a video then make sure you are asking them to do so. Sometimes the correct ask can vastly improve engagement on your posts.
Every audience is different and if you are creative, there can be heaps of ways that you can improve engagement. If your posts are suffering from lack of engagement consider changing your strategy to appeal to your audience.
4. Link Clicks – Click Through Rate (CTR)
As part of your online marketing efforts you should identify your “buyer’s journey”.
This is the path your potential customers will take from first hearing about your brand, right through to buying, signing up or becoming a lead. Your Facebook marketing strategy should factor into this, along with other social media platforms. If you are getting a large number of engaged fans on your Facebook page, you should be moving them down the journey to your landing page, online store or however else you are converting customers.
Link clicks are an important part of this as it signifies that a user has enough interest to move to the next stage.
You can find the link clicks metric directly on the insights for each individual post.
Your click through rate demonstrates how effective your post was in attracting a potential client to take action. This metric is especially important if you are paying to boost your posts because a low CTR means that your ad is likely not well targeted to your demographic, or the content is not compelling enough to capture customers. Either way, it’s an important one to keep an eye on.
5. Cost per action (CPA)
If you are running ads on Facebook then one important metric to keep an eye on is the cost per action.
Simply, this is how much it costs you to get a user to take an action on your site. This could be something like signing up to a newsletter, downloading your app or making a purchase in your store. You can see this metric in the Facebook ads manager.
Ideally, you want a low CPA because this means for each dollar you spend on marketing you are getting more of the desired results. A high CPA means that your paid ads are being served to people who aren’t taking action.
If you want to see the best return on your ad spend then you want to make sure that your ads are well targeted to your customers demographic or location and that they are compelling enough to make the user convert into a customer.
You want to make sure what your business spends on social media pays off. This is especially true in the world of small business where time and money are tight. Look at your business goals and see how you can use Facebook, Instagram and other channels to help achieve them.
Vonto’s free business analysis app integrates with your Facebook, Instagram and Google Analytics to give you daily insights as to what is working and what needs attention. Leaving you with more time to work on your next project. Download it today to see how Vonto can help you.