Wonder How Your Facebook Marketing Campaign is Performing? 3 Basic Things You Must Understand About Your Analytics
In the busy world of digital marketing today, everyone is on social media. Whether it’s Facebook, Instagram, LinkedIn or TikTok, businesses have tried to make their presence felt in the digital world. However, when it comes to evaluating your performance on social media, some of you may still be struggling to understand how well (or how bad) you’re doing. In this article, I’ll be covering Facebook as the social media marketing tool. While there are many confusing analytics available through your social media campaign reports, here are the basic things you should understand about your performance.
Reach and Impressions
Facebook defines Reach as the number of unique people your content has been received by. It means that if the reach is 10,000 then 10,000 unique people have at least seen your content. Impressions, on the other hand, are the number of times people have seen your content. Hence, if your reach is 10,000, then your impressions should be more than that (say, 15,000 impressions). This means that out of the 10,000 people who viewed your content, some of them saw them more than once.
Although it is always great to have a wide reach (especially if your objective is to create awareness), it is often secondary depending on if your objectives are for more audience engagement, increase website traffic or generating more sales leads. If you are targeting more sales leads, a lower reach is better if your Click-Through-Rate is higher since it means that more people are clicking through even though with less reach.
Click-Through-Rate (CTR) is the percentile of which people take the action of clicking through your campaign content. Meaning that if out of 10,000 people who see your content and 500 people click your button to contact you or to go to your website, then your CTR is 5% (500/10,000 x 100%). Is 5% good or bad? Sites like WordStream can often be used as a reference for benchmarking your social media campaign performance. The average CTR across all industries is 0.9%. This means that 5% is REALLY GOOD! However, you should also check on the average CTR based on YOUR industry. For example, in the Technology industry, the average CTR is 1.04%. This means your 5% is still way above the industry average CTR for Technology.
Conversion Rate (CVR)
Conversion rates refer to the number of people who follow through with a particular set of actions that are determined by you and your campaign objectives. For instance, if your objective is to generate more sales leads, then your conversion rate is the number of people who become a genuine prospect as a result of visiting your website coming from Facebook. Hence, if 500 people visited your website by clicking your Facebook content and 10 of them contacted you with a genuine interest in your products, then your CVR would be 2% (10/500 x 100%).
Now, is this good? According to WordStream, the industry standard for Technology is 2.31%. This means that your CVR is lower than the industry standard (which is a bad thing) and you know this is an area you must improve.
Being clear of your objectives will tell you whether your Facebook marketing campaign is working or not. If you want to create awareness for your brand, products or services, then a higher reach is something you will want to achieve. If an increase in website traffic is your aim, then consider emphasizing how to achieve a higher CTR (with less reach). If leads are your game, then you will have to focus on your CTR AND CVR.
Got questions? Ask ahead. There are more to cover on this topic. Stay tuned!
Written by Dr. Mohd Amir Mat Omar