Hey,
I often get asked, “Which Facebook ads metrics should I focus on?” and “What should I be tracking?“
While I’ve covered the user conversion journey in detail, there’s a chance you might have missed it. So, I’m here to share some absolutely crucial details with you.
Understanding your user conversion journey is the key.
If you’re not tracking the right metrics, you’re essentially flying blind, not knowing what’s working and what needs improvement. And let’s be honest; no one wants to waste marketing efforts and budget.
To avoid that, let’s dive into the Facebook ad metrics that you should be tracking:
P.S. Track these metrics sequentially to identify any pitfalls in your user’s purchase journey from start to finish.
P.P.S. Some of these metrics aren’t readily available on Facebook Ads, so you’ll need to create them yourself.
1. CPM (cost per mile):
– Indicates the likelihood of people stopping their scroll to view your ad.
– The lower, the better.
To improve it:
- Use bright colors.
- Implement pattern interrupts.
- Employ amateur graphics.
2. Thumbstop Ratio:
– Calculated as 3-sec video views/impressions x 100.
– Ideally, it should be above 30%.
To enhance it:
- Use the ‘Mr. Beast’ style and hooks.
- Make bold, negative, or controversial claims.
- Utilize transitions, animations, and sound effects.
3. Hold Rate:
– Calculated as 15-sec video views / 3-sec video views x 100.
– Ideally, this should be above 35%.
To enhance it:
- Use storytelling.
- Change scene sequences.
- Add B-rolls and jump cuts.
4. CTR (Link Click):
– Indicates whether the ad provides a compelling reason to click.
– Ideally, it should be above 1%.
To improve it:
- Introduce FOMO and exclusivity.
- Keep the message simple.
- Utilize social proof.
5. CPC (Link Click):
– Essentially, it’s calculated by dividing CPM by CTR (link clicks).
– The lower, the better.
– On its own, it indicates if either CPM or CTR is off, and improving these improves CPC as a result.
6. CPLV (Cost Per Landing Page View):
– This measures the cost per landing page view (not available by default in the dashboard).
– This metric, along with CPC, is significant. It should be similar to CPC.
– However, if CPLV is more than 20% higher than CPC, it may indicate:
- An issue or misleading element in the creative.
- Possible traffic fraud.
- Slow website load speed.
7. Cost Per Add to Cart:
– This metric measures the cost of each add-to-cart action and indicates if your product page is persuasive enough.
– It varies for every business depending on the CPA, but obviously, the lower, the better.LOL
To improve it, here’s what you can do:
- Increase congruency between ads and the landing page.
- Introduce a few testimonials.
- Implement FOMO (Fear of Missing Out) indicators.
By keeping an eye on these seven key metrics – both default and custom-made – you’ll be better equipped to assess your ads’ performance.
For a deeper dive into the user conversion journey, check out: https://sannidhyabaweja.com/complete-user-conversion-journey-guide/
Looking forward to hearing about your successes and insights!